The New General Motors

What's Good for Goldman Sachs

To love Geithner’s plan, you have to embrace his philosophy that what’s good for Wall Street is good for America.

--Margaret Carlson, "Geithner Deals Wall Street a Can’t-Lose Hand"; Bloomberg (3/26/09)

What's good for the country is good for General Motors, and what' s good for General Motors is good for the country.

--Charles Wilson, General Motors CEO (1952)

So today's General Motors is Goldman Sachs?

Unfortunately, the updated equation is wrong on two counts: 1) what's good for Goldman Sachs seems to be very bad for the rest of the country; and 2) what's good for the country . . . seems to be irrelevant to Goldman Sachs.