By Allison MacDonald
Just when we all thought Goldman Sachs was an angelic institution devoted to preserving the American Dream - oh wait, I’m thinking of McDonalds. Goldman Sachs is the soulless company whose proprietary trading and predatory lending practices helped tank the economy in 2008. Anyhow, this week, Goldman executive, Greg Smith wrote an op-ed in the Times scathingly accusing Goldman of “ripping off” clients. How did this news fare for Goldman? Well, they lost about $2 billion in market value this week, so that pretty much says it all. But will it have a lasting effect on how Wall Street does business?
The New Yorker’s John Cassidy says that while it may be a big threat to Goldman’s business, it’s unlikely that Goldman will wake up and change its practices, at least not for a while.
And: If you have any reason to doubt Greg Smith, check out the 13 charges the Securities and Exchange Commission has brought against Goldman in the past ten years.
Can Goldman Sachs survive this?
Should We Stay or Should We Go?
Let’s face it: we need to get out of Afghanistan like my roommate’s boyfriend needs to get off my couch.
Foreign Policy’s Josh Rogin outlines the possible strategies from both the left and the right. Biden wants a withdrawal, Lindsay Graham thinks we should “cut the cord,” and the White House wants to stay the course. Newt Gingrich said the mission might not be “doable.” Not doable? Newt, your number one mission a few weeks ago was creating a colony on the moon!
Is it time to leave Afghanistan? What more are we hoping to accomplish there?