Tho especially aided by a revolving door between GS and regulatory agencies, none of this could happen under a government which sought to eliminate privilege where possible and tax it where it cannot be avoided.   Taibbi doesn’t seem to be aware of this latter point, or maybe it just isn’t as interesting to focus on policy solutions as to discuss evil persons and their organizations.

A rather weak response from Goldman Sachs is reported here, the good news being that

in the wake of the events of the past year or two, Goldman’s partners have pretty much lost their appetite for going into public service.

But as long as privilege thrives, some will find ways to manipulate it to their advantage.