Dick Bove
Charles Krauthammer
Bubba (surprisingly insightful)
Hopefully few people wasted their time watching the Senate hearings yesterday on Goldman Sachs. I wasted an hour yesterday watching Lloyd Blankfein answer questions. Little productive came out of these hearings other than the Senators demonstrating their ignorance on the financial markets and Goldman doing their best to avoid addressing the concerns. Both sides looked bad. The hearings only served to increase my fear that those attempting to regulate the financial markets don't understand the financial markets and are likely to do more harm than good. This doesn't mean we should leave the status quo in place. But we need less demagoguery and a smaller, more carefully thought out bill than the 1,400 page plus monstrosity that is in committee now. The Fannie and Freddie problem needs to be addressed sooner rather than later, and quite frankly is a more serious issue and poses more danger to the taxpayer than this Goldman circus.
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