Goldman Sachs CEO Lloyd Bankfein has apologized for Goldman Sachs role in the meltdown:

“We participated in things that were clearly wrong and have reason to regret,” Blankfein, 55, said at a conference in New York hosted by the Directorship magazine. “We apologize.”

Notice, of course, that the wrong doing is completely unspecified, but still, given the fact that arrogance is a part of the DNA of that great vampire squid wrapped around the face of humanity,^* Goldman Sachs, there are really only two possibilities here:

• Someone has pictures of Bankfein sodomizing an underage goat.
• They are really scared that the villagers with pitch forks are on the way to Congress to change things.

If they are worried about the latter, they have a far more optimistic view of the American public, and American politics, than I do.

^*Alas, I cannot claim credit for this bon mot, it was coined by the great Matt Taibbi, in his article on the massive criminal conspiracy investment firm, The Great American Bubble Machine.