The Matt Taibbi-Charlie Gasparino slugfest over Goldman Sachs continues: after a short silence, Taibbi has written a lengthy rebuttal to Gasparino’s Daily Beast takedown about GS’s role in the U.S. economy.
Here’s the intro:
“The odd thing about Gasparino’s piece is that he makes noise at the outset like it’s going to be this thorough rebuttal of everything I wrote about Goldman Sachs, yet it goes on to agree with almost everything in that piece. He agrees that Goldman is a “government-protected bank” (which is a pretty major part of what I’m arguing in the article), that it has amped up its risk appetite since the bailouts, and that it is making a fortune thanks to its post-bailout access to a mountain of cheap money.
Gasparino chooses to disagree with me mainly in the area of things I never said, which is an interesting way of arguing – one that Goldman Sachs itself, incidentally, is quite proficient at. The goalpost-moving and passage-massaging in his piece ranges from subtle to frank and undisguised.”
After taking down Gasparino point by point, Taibbi throws this parting jab at financial journalism:
“The thing that’s really irksome about all these lengthy defenses of Goldman by mainstream financial reporters is how passionate they all are in rushing to the aid of this ultra-powerful bank. As someone said to me recently, you’d think they were responding to an article written about them. There’s a faintly detectable air of wounded corporate loyalty here that in the kindest possible interpretation is just really weird. It gets even weirder when you see how flimsy some of these defenses are.”
Regardless, this might be the last from Taibbi: “I promise, this’ll be the end on the Goldman stuff for a while. I’m sure you’re all tired of it. I am.”
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