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Rush Limbaugh

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RUSH: There’s a piece of news out there that’s a very teachable moment and I want to start with this. The stock market is down about 148 points in the last hour. Now, the reason the market is down is because the Securities and Exchange Commission which is a part of the regime — this is the teachable moment — the SEC has filed civil charges against Goldman Sachs for essentially profiting on the subprime mortgage crisis knowing full well that the housing market was gonna bubble up and crunch and they were playing both sides, profiting on both sides of it. The suit from the SEC basically shows that Goldman Sachs and others knew that the housing market was gonna crash, they kept selling these mortgage-backed securities on the one hand and then they bet against them on the other hand. They were going short.

This was not the result of any unfettered capitalism, folks. This was not unfettered capitalism. This crash is the result of Barney Frank, Chris Dodd, Franklin Raines, Jamie Gorelick and all these other liberals and their elitist buddies on Wall Street who knew what was going on in the subprime mortgage crisis, gaming the system to enrich themselves. From Clinton, Barney Frank, Chris Dodd on, they created an unsustainable mortgage situation and then other liberals enriched themselves by betting against it at Goldman Sachs, and that’s what this suit is all about. Now, you might say why today? Because there’s a story out there that Goldman Sachs is fully in support of the financial regulatory reform bill. My friends, here’s the teachable moment. Obama wants this story out there.

He wants Wall Street to be thought of as a bunch of thieves, as a bunch of creeps, as a bunch of elitists, so he can get his financial regulatory reform bill passed, and, lo and behold, what happens, the SEC, an arm of the regime, launches a civil suit against Goldman Sachs. The other teachable moment of this is that it’s the government always screwing things up. This is the liberals in government working with the liberals at Goldman Sachs to profit from all this and then enrich themselves and what do they do? They blame the free market for it. They end up blaming capitalism for this. This was an inside hit job all the way. And so now Goldman is going to have to take a little pain here and be the public face of evil, mean, greedy Wall Street so that Obama can get some energy behind his financial regulatory reform bill which he desperately wants. So that’s the teachable moment today.

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