Max Keiser doesn't like Goldman Sachs very much.
Over the top? Maybe a bit. But it's a lot less over the top than all those commentators and analysts who were assuring us that everything was okay in late 2007. And they still have their shows and their columns and their general respectability. Meanwhile, Keiser's assault on Goldman Sachs will be Internet samizdat, much like Matt Taibbi's article on the company. And why? It's not because the substance is out of bounds. It's because the tone is. Keiser is angry. And as Mike Rorty writes, we're uncomfortable with the language of anger:
Is there room for outrage? I always find this frustrating in economic technocratic talk, where outrage/disgust/shaming is dampened by having to focus in terms of “bad incentives.” There’s a schizophrenia in the way we talk about this, that capitalism on one hand is a benevolent invisible hand guiding us all together, and also amoral tiger who of course was going to rip your throat out if you don’t lock its cage properly.
Getting a little hyperbolic, it’s like someone has broken into our house and is looting everything in sight. How do we “set up his incentives” so that he leaves without the treasury in tow? Setting up the terms for discourse in economic rationality speak is only going to allow us to answer the question of “why didn’t we lock the door?” Good question, of course. But we have problems right now that rightfully deserve shock and anger.
July 17, 2009; 6:12 PM ET
Save & Share: Previous: There's No Such Thing as "Non-Defense Discretionary Spending"
Next: Good News Out of Massachusetts
Posted by: SqueakyRat | July 17, 2009 6:38 PM | Report abuse
Posted by: SqueakyRat | July 17, 2009 6:39 PM | Report abuse
Posted by: endaround | July 17, 2009 7:13 PM | Report abuse
Posted by: wapomadness | July 17, 2009 8:03 PM | Report abuse
Posted by: glewiss | July 17, 2009 8:37 PM | Report abuse
Posted by: JimPortlandOR | July 17, 2009 9:05 PM | Report abuse
Posted by: dside | July 17, 2009 9:14 PM | Report abuse
Posted by: theorajones1 | July 17, 2009 9:43 PM | Report abuse
Posted by: michaelterra | July 18, 2009 3:22 AM | Report abuse
Posted by: anne3 | July 19, 2009 2:27 PM | Report abuse
Posted by: BlueTwo1 | July 20, 2009 12:36 AM | Report abuse
The comments to this entry are closed.