Too Big to Fail - June 12, 2012

[cheld]

Originally Posted by MichaelR

I guess it depends on what you mean by "offhand". SEC Commissioner Cox makes a semi-serious joke about how everyone at the Treasury Department comes from Goldman, and Asst. Sec. Davis launches into her standard defense, noting that Paulson sold all his interests in Goldman before taking the job as Secretary. Then she catches herself and apologizes, saying they're all very sensitive about the Goldman connection.

The scene takes place at an airfield where Paulson has chartered a plane on his personal credit card, because he's in a hurry. And there are other references to his former position at Goldman.

Yeah I thought I remember it being in an airfield.

Anyway, the film makes little-to-no mention of the multiple infractions and crimes committed by the IBs even before the crisis became front page news. Goldman alone was fined and/or implicated for laddering, spinning, commodities manipulation, naked shorting and more. The "housing bubble" was a smokescreen.