The Editors of the WSJ agreed today ("The Goldman Two Step", pg A14) that Goldman should not be allowed to payback the TARP money right now. There appears to be a growing consensus on this issue. And, it all seems to revolve around the essential problem that Goldman has been deemed "too big to fail", therefore we must bail out counter-parties of Goldman, and provide cheap bank financing, and an implied backstop for them.
BUT . . . they get to continue to trade on their "own" account (with your money) and they get to pay themselves however they want (last year $4.7 BILLION - over 950 Goldmanites were paid over $1 MILLION in 2008, the year of the financial meltdown).
Now, THAT is a pretty sweet deal. Even a child understands that "Heads I Win, Tails You Lose" is a bad deal. Do you think Congress will figure it out?
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