Wednesday, April 28, 2010

Zero Money

It just occurred to me that what Goldman Sachs tried to do with those risky derivatives was the same thing Max Bialystock and Leo Bloom tried to do with "Springtime For Hitler" in "The Producers" -- come up with a product so bad it was guaranteed to fail, thus reaping huge rewards for themselves. The difference is that Lloyd Blankfein wasn't wearing a cardboard belt.

Several readers tell me I'm late to this analogy, which occurred to Ira Glass and his colleagues at NPR's "This American Life," who did a whole show on the financial crisis three weeks ago, including a song performed by Nathan Lane soundalike John Treacy Eagan, with Christian Borle...