A Better East Texas: Goldman Sachs - KLTV.com - Tyler, Longview, Jacksonville |ETX News

A Better East Texas: Goldman Sachs

Officers from the investment firm Goldman Sachs testified before Congress and what an interesting show that was. Ten plus hours of grilling that ultimately had them confirming that they were zealous in their pursuit of profit, they saw signs that the financial industry was on shaky ground but they largely either ignored the signs or figured out a way to make money from the system's failure. And there was Congress trying to pin the entire financial meltdown on one or two companies to the point that they even micro-targeted a single Goldman-Sachs employee. Now here is the problem, the federal government – Congress – makes the rules by which Goldman Sachs operates. The testimony of the Goldman Sachs officers claims that they did not break any rules.  So Congress needs to change the rules on how this industry operates. But the catch 22 here is that our economy is driven mostly by greed and Goldman Sachs did a heck of a job of being greedy. They may not have broken any laws but they did not operate with any sense of obligation to a greater good. Congress will institute some reforms to try to keep this from happening again but the truth is, is that as long as people think they need millionaire or even billionaire status, this type of meltdown will always be a possibility. Perhaps the greatest reform would indeed be one that dealt with morality rather than money – and that would make for a Better East Texas.

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