Gluttony Gospel.
It’s an old lesson: God rewards the enterprising. And that’s the case that several Market Masters, including Goldman Sach’s shameless leader Lloyd Blankenfein, who proclaimed sketchy trading practices as “God’s work,” have successfully made since Wall Street pushed the national economy into a pit some 18 months ago. I say successfully because, despite ample commentary about the travesties of current trading methods and the decline of Wall Street’s popularity among some segments of the public, there doesn’t seem to be enough popular anti-Wall Street sentiment to force necessary government regulation (if government can’t regulate corporations, via public impetus, who can?). We’re still in thrall to the mythology that market regulation is antithetical to America’s premise. Free markets, innovation and yes, God’s reward, all inform our long-time approach to unfettered capitalism. Continue Reading →