As a big fan of what Naked Capitalism provides, I try to read everything that Yves Smith and her guest bloggers contribute. I was particularly impressed with the scrappiness of Mike Morgan’s site. Now we hear that Goldman Sachs is attempting to muscle his blog into nonexistence using the Wall Street law firm Chadbourne & Parke. Well I spent the better part of an afternoon going through the content of Mr. Morgan’s site, and though it is highly critical of Goldman Sachs, it is entirely consistent with the free exercise of a little thing here in America called the First Amendment.

Thomas Paine, when accused of libel, said  “If, to expose the fraud and imposition of monarchy . . . to promote universal peace, civilization, and commerce, and to break the chains of political superstition, and raise degraded man to his proper rank; if these things be libellous . . . let the name of libeller be engraved on my tomb”.

In fact, if only a portion of what Mr. Morgan has exposed is true, then the rats in question have violated the 14th  Goldman Sachs Business Principle.

My suggestion to anyone reading this is to rally behind Mr. Morgan. Believe it or not, we need more Underdogs.


And to Mr. Blankfein at Goldman, move on, dude. This kind of cheap shot makes you look like a rat.