Admiring the Rich for Getting Richer

Goldman Sachs has no lack of defenders

LLoyd Blankfein of Goldman Sachs--Photo Credit: Flickr Creative Commons/World Economic Forum

“Beset by accusations of securities fraud, Goldman Sachs nevertheless showed Tuesday that it was still very good at what it does best: making money.” So began an April 20 New York Times online article. By the time the story went to print, the lead had changed, to suggest that the fraud charges do, in fact, somewhat overshadow a strong quarterly earnings report. But the original lead seemed to more honestly reflect corporate media’s stance toward financial industry titans: a kind of awed admiration at the way they make bank, even when “beset.” NPR’s Morning Edition (4/20/10) host Steve Inskeep likewise […]