Running a gambling casino is actually a pretty simple, straightforward and honest business. You're closely regulated by the state gambling commission. But if you're Goldman Sachs, you can load the dice.
It was the Perry Mason moment in the unraveling of what was left of Goldman Sachs' reputation. Only in this case, it involved a grizzled former prosecutor, Sen. Carl Levin, rather than a genial defense attorney.
Criminal behavior. No trust. Reputation destroyed. No customers. I expect Goldman Sachs to be out of business by the end of this year and maybe before the November election. That's just my opinion, of course.
What Summers, Dodd, and apparently the president continue to not get is that massive concentrations of wealth and power do equally massive amounts of damage over time to both a democracy and to the markets.