Dana Blankenhorn, “and I say this as someone who has been part of the financial press for 30 years”:
The difference between what Bernie Madoff did and what Hank Paulson did at Goldman Sachs, what John Thain did at Merrill Lynch or what Jamie Dimon did at J.P. Morgan is that Madoff was more cost-efficient. Madoff just pretended to invest for his Ponzi scheme. Paulson and Thain and Dimon used the government to pretend their scheme was real.
All while CNBC cheered them on.
We need to stop identifying with the crooks and concentrate on bringing them to justice.