Anyone else enjoy Fareed Zakaria's Epic Fail on his CNN GPS show? Besides allowing Geithner a chance to spin his success and frame criticism against him as originating from "myths" ... I laughed pretty good at that one. Zakaria opened his show with an analogy in which he tried to explain to we rubes that what Goldman Sachs is in hot water for is little more nefarious than a bookie taking bets on a sporting event. I don't think any sports bettor would want a Bookie like Goldman Sachs.
Zakaria was saying that what you have in the Goldman Sachs business was Goldman taking bets from all sides and some bettors were just more astute than others. If Zakaria's analogy was honest, he would have included the key point ... that the Bookie knew that the Sporting Event was rigged and was actively soliciting bets in favor of the team that was preordained to lose.
I'll give Zakaria the benefit of the doubt and say his analogy was just sloppy and really bad as stated.
Read the Article at HuffingtonPost
No comments:
Post a Comment