Daily Archives: April 7, 2010

John Gapper

Studying the claims made by Goldman Sachs about whether it would have collapsed if the US government had not bailed out the financial system, and invested $10bn in Goldman itself, is like Kremlinology in the days of the Soviet Union – every word counts.

So the use of the term “indispensable” by Lloyd Blankfein and Gary Cohn sent me to my dictionary to check the exact meaning of the word. Both men have previously denied, or at least cast doubt upon, the idea that Goldman needed to be rescued. Read more