Page 226 - Scapegoat News Today

Goldman or do you think that they are just sort of a scapegoat for the overall frustration and resentment and outrage toward wall street going on in the country right now is. >> well, i im sure there are elements of both, the resentiment towards goldman because it is the preeminent investment bank in the world, and also a lingering resentment at the whole investment banking community, but i think goldman must know that the perception of misbehavior is almost as damaging as the actual conviction ...

>> i love it. they put in $2 million into their local economy. they are big-town heros. how about that? thank you. >> gregg: all right. some shocking new details coming in through e-mails on the goldman sachs fraud case. were going to tell you about those and a look at whether the employee at the center of that is being used as a scapegoat.

You know, so as a result of that, were not really to blame. >> thats right. goldman sachs has put out that defense, tried to blame essentially the victim in the case and goldman sachs has also put out the defense that they lost money on this trade trying to show that really it wasnt a product that was designed to fail. as more and more of thats correct e-mails are coming out, it comes out that goldman sachs had hedged its position on the trade, so ultimately we may see that goldman did not lose ...

Made that they shouldnt rush ahead, they should draw this fight out all summer? >> thats an interesting idea. i think the timeline is such and the substance tive policy changes are important enough that they need to get it done, right? and i think they think politically an accomplishment is better than something that doesnt get accomplished and is blocked. but you raise a good point. the other subtext really important to note here is its not entirely clear to me that everyone in the democratic c...

So today, my administration is proposing a sweeping overhaul of the financial regulatory system. a transformation on a scale not seen since the reform that followed the great depression. >> glenn: reforms, believe me, that will lead to reforms that have never been seen at this scale ever in the history of mankind. taxes and regulation will not lead us out of this crisis. the administration wont even discuss the real causes of the crisis. why hasnt anybody gone to jail? you know what? were now af...

So today, my administration is proposing a sweeping overhaul of the financial regulatory system. a transformation on a scale not seen since the reform that followed the great depression. >> glenn: reforms, believe me, that will lead to reforms that have never been seen at this scale ever in the history of mankind. taxes and regulation will not lead us out of this crisis. the administration wont even discuss the real causes of the crisis. why hasnt anybody gone to jail? you know what? were now af...

Texting, how much youre spending on facebook to get an idea of what youre doing. this is for both teens and parents. blame your parents. you know, parents are a great way to sort of be the scapegoat. if youre online and you dont want to be online anymore and youre feeling pressure from your friends, say, gosh, you know, my mom is making me get off. im sorry i have to go talk to them or i have to go to dinner. great excuse. >> brill want. excellent. i have learned things, armed with new informati...

That we had a huge escalation in housing prices that was unsustainable, that most of the housing market was basically could not afford housing -- >> why the hearings with lehman and the former head lambasted there. well see more with goldman and they want to regroup the citigroup guys. on and on we go. to what he said? >> its a way of politically finding a scapegoat, which is destructive to the financial world. a lot of people were at risk. if you want to take an example, a huge number of people...

>> i am completely optimistic, and believe in the marrow of my bones that i am going to find something thats good for me, and my wife and children. >> publicly, the chinese dismiss the obama administrations calls to let its currency rise. and chinese officials insist, the u.s. is using beijing as a scapegoat for its own economic troubles. chinese premier recently scolded president obama and called americas attitude today protectionist, and said the u.s. has too many of its own problems to interf...

And 40%. chinese officials insist the u.s. is using beijing as a scapegoat for the economic troubles. u.s. lawmakers are trying to pressure the administration to get tougher with china, but currency analysts mark chance le doesnt see adjusting the yuan as the answer to the problem. >> if we slap a tax on chinese imports to the u.s. to compensate us for the unfair currency, who are we punishing? we are punishing gm, we are punishing apple and dell because they produce goods in china and export th...