Posted on Apr 28, 2010
By E.J. Dionne
Maybe the next time someone calls Barack Obama a socialist, the president shouldn’t issue a denial. He might instead urge his accuser to read the hearing transcript of this week’s congressional testimony from the Goldman Sachs guys in their beautiful suits.
Capitalism has not taken a hit like this since Mr. Potter made his appearance as the evil banker in “It’s a Wonderful Life.” No leftist polemicist could come up with as damning a description of contemporary capitalism as the contents of an e-mail that Goldman’s Fabrice “Fabulous Fab” Tourre sent to his girlfriend.
“Well,” he wrote, “what if we created a ‘thing’, which has no purpose, which is absolutely conceptual and highly theoretical and which nobody knows how to price?”
Perhaps Fab once read the Karl Marx who wrote: “The more abstract money is, the
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