The public is getting an education on how the stock markets work. The Goldman execs are being asked awkward questions, the over-riding one being "Does Goldman Sachs owe a duty to its clients?"
This question is a little like "Have you stopped beating your wife?" Right now I’m watching an explanation of the meaning of hedging and going short, an attempt to shed light on the mysteries of Wall Street. The real question is one concerning a built-in conflict of interest. "Does Goldman Sachs owe a duty to itself". Goldman Sachs has clients, and also makes markets. The result is inevitable.
A comment on the usefulness of Subcommittee probes: I’d like to see the entire Supreme Court arrayed in front of a Congressional subcommittee. I’d like to see them asked questions about what lies behind their frequent determination that a plea before them be dismissed without explanation, just a bald-faced straight denial. One of their own, a lawyer, sits confined in a jail cell for over a year (read below). He has pled before this court of last resort that he be released immediately, over the objections of Judge Yaffe, whose sentence is suffused with the demands of self-interest, on behalf of all of the Los Angeles judges. And Justice Ginsburg (a woman) is silent.
We need to revise the rules. The court of last resort is, and should be, the lawmakers who sit on the Hill. And the White House.