Where does government end and the private sector begin? It reminds me of Ellen Ripley and the space marines stumbling upon the human/alien amorphous blob in “Aliens” (nerd alert!). It’s convoluted, to say the least. So what to make, or rather whom to blame, for Goldman Sachs’s recent success?
James Stewart’s piece in The Wall Street Journal makes a convincing case that we shouldn’t hate them for making money. Hate’s a strong word, and being a solid free-market guy, I would usually have no problem with their success. As Stewart rightly notes, they paid back their TARP funds; funds they were forced to take at usurious rates in a deal they couldn’t refuse.