It's been over three years since credit markets started shaking with the early tremors of the subprime crisis, and two years since that spread into a marketwide collapse. Prosecutors, regulators, Congress and journalists have spent the year uncovering the financial shenanigans that brought the market to its knees.
Today's New York Times includes a short story (prominently featured online at 9 am) trumpeting the "big profit" Goldman Sachs is reporting. The NYT notes that some analysts may see this as a sign of a recovering economy.
But read in the context of Matt Taibbi's recent Rolling Stone expose of the decades of profiteering at Goldman Sachs,
in which the company has taken money from all Americans over the course
of the last five or six economic crashes, it looks more like GS has
just taken us for yet another ride, thanks to its friends throughout
the financial industry, government, and "independent" financial