The Senate sub-committee hearing on Just How Evil Is Goldman Sachs, ongoing for a few hours now, is numbing and ridiculous and unintelligible. Alternately I have the impression that the people asking the questions and the people giving the answers have no idea what they're talking about. The constant use, by the questioning politicians, of the idea and model of "gambling" in relation to what Goldman Sachs does is somewhat disturbing. Goldman Sachs is, at heart, a math organization. What happens there is that thousands of incredibly bright math-oriented folks are modeling and running numbers constantly, and when the numbers seem worthwhile, choices are made. It's like gambling only if [...]