Goldman Sachs Hearings: It's A Sham

From Glenn Beck:
Faith, hope and charity: We used to seek God's blessings on the country, we used to pursue maximum freedom to solve problems and we'd rely on one another in times of need.
Now we're being pushed towards what progressives have always found hope in: Dependency on regulations and administrations. Average Americans find that approach to be red tape. Our Founding Fathers found it to be slavery.
So it kind shocks me when there's no outcry to news stories like this one reported in the Financial Times over the weekend: The "U.S. is preparing to pivot from domestic regulatory reform to push for a tough new international capital regime."
Excuse me?
We're talking about the foundation of international financial regulations and global governing. It's a trial balloon being floated out there and I guess it was a success because the response was complete and total silence.
Is it just me who thinks this is a bad idea? Am I alone? I guess so, because even Republicans are OK with this one. How could that happen? Easy: It's those evil, greedy Sith lord Wall Street executives! Like the ones at Goldman Sachs, who are appearing before the almighty Senate Tuesday to get grilled by the Senate Permanent Subcommittee on Investigations (sounds scary) about their so-called attempts to manipulate and profit off the crash of the housing market.
They'll get chewed out and made an example of by people like Chris Dodd, who joined in the chorus of Goldman haters on "Meet the Press" on Sunday:
SEN. CHRIS DODD, D-CONN.: Here we are, 17 months after someone broke into our house in effect and robbed us... and we still haven't changed the locks on the doors.
LARRY SUMMERS, WHITE HOUSE ECONOMIC ADVISER: These off-balance sheet, nontransparent vehicles with what people call implicit guarantees, invite these kinds of problems.
SEN. RICHARD SHELBY, R-ALA.: We have to end once and for all the casino atmosphere on Wall Street, where they're gambling, basically, on synthetic ideas and so forth — with somebody else's money.
You're right, Chris: You have to change those locks. But the other thing to make sure of is that the people you are calling to change the locks aren't the same ones who were involved with the robbery in the first place.
Yes, Dodd and his buddies will chew out Goldman, but if they are the root of all evil, why do these people all still work in the administration?

• William C. Dudley, president of the Federal Reserve Bank of New York; was a partner and managing director at Goldman

• Gary Gensler, chairman of the Commodity Futures Trading Commission; spent 18 years at Goldman

• Mark Patterson, chief of staff to Tim Geithner; former Goldman lobbyist

• Philip Murphy; nominated for ambassador to Germany; former Goldman executive

• Diana Farrell; deputy director of the National Economic Council; formerly with Goldman

• Emil Michael; White House fellow; former investment banker with Goldman
There's just a few. And if Goldman really are the bad guys, we have bigger problems than just regulation, because we have to talk about global warming as well.
I got a tip from a watchdog — and by the way, if you are new to the program and don't know what a watchdog is, that's you. We've got millions of watchdogs e-mailing in tips and stories big and small and we welcome every single one of them. We get to as many as we can and even report on some of them, like this one about the Chicago Climate Exchange.
In case you didn't know the Chicago Climate Exchange existed — it does and it started trading in 2003. It's billed as: "North America's only cap-and-trade system for all six greenhouse gases, with global affiliates and projects worldwide." Members agree to a voluntary but legally binding agreement to "meet annual Green House Gas emission reduction targets."
What's cap-and-trade? A scheme designed to transfer wealth from the companies that have to the companies that have not through the regulation of invisible gases. Remember, it was ENRON who lobbied heavily for this type of system, because they knew how to swindle a profit out of it.
Environmentalists like Obama want this system because it will make prices skyrocket and people will be forced to use less energy. But I don't want to put words in his mouth, I'll let him say it: