What's That, Lassie? Timmy's About to Be Thrown Down the Well?

For a long time, it was George W. Bush’s fault because he left us with a wrecked economy. But that’s getting a little old. So, after the Democrats lost the Kennedy endowed chair in the U.S. Senate, everything is the fault of, uh, the banks!

Don’t get me wrong. I think many of the banks are too big to “bail” again. And I strongly support regulation that prohibits even the appearance that a bank taking federally insured deposits is playing in the stock market.

But do I think Goldman Sachs is the devil? No. Many investors like Goldman Sachs; it makes money.

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If the President can’t be wrong, and the Administration made mistakes trying to fix the economy, and let the banks get away with murder, and there’s only room in the Administration for one guy who is never wrong . . .

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View TaxAnalysts' Chris Bergin's opinion in its entirety on TAX.com.