Click on the song near end of this out-take from the article — it says it all!
“That investigative journalists have consistently been way ahead of the authorities, the S.E.C. included, in uncovering Wall Street’s foul play, is a scandal. If this culture remains in place, the whole crisis will have gone to waste.
“As a reminder of the unchastened status quo, Blankfein remains the gift that keeps on giving. On Thursday, The Financial Times reported that he had been calling clients to argue that the S.E.C. case against Goldman would ultimately “hurt America.” The opposing point of view was presented by Ira Glass on his radio show “This American Life” this month. With reporters from the nonprofit journalistic organization ProPublica, it told the story of another hedge fund, Magnetar, that gamed the housing bubble. Bankers who worked on Magnetar deals walked away with their huge bonuses well before disaster struck — or, as the program put it, “bankers made money even when they were buying things that eventually blew up the bank.” Not to mention the economy. And it was all legal.
“To award the audience a bonus, “This American Life” concluded with a Broadway song commissioned from a co- author of the satirical musical “Avenue Q.” Titled “Bet Against the American Dream,” it distills a complex financial saga to its essence: Those who shorted the housing market shorted the country.
“Go online, listen to it and laugh. But the fact remains that those who truly hurt America are laughing harder still, all the way to the bank.”