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Dobbs challenges Goldman Sachs chairman to a duel.

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"Dobbs challenges Goldman Sachs chairman to a duel."

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On his CNN show this week, host Lou Dobbs discussed the new Economy.com report that 8.8 million American homeowners are now “underwater” — meaning they owe more on their homes that the homes are worth. Dobbs then took issue with Goldman Sachs chairman Lloyd Blankfein, who had earlier suggested Dobbs’ prognosis of a worsening economy was false. Dobbs proceeded to challenge Blankfein to tell it to his face:

Perhaps Lloyd would like to come on here and show me the error of my ways and educate me perhaps from his lofty Wall Street perch on how millions of Americans are faring and what their prospects are. Lloyd, you certainly — I would love to have you do it. I would love to have you come on and talk to my face, not to my back, partner. I know it’s not the way you do it on Wall Street there, hot shot, but try it here. Come on down. Open invitation.

Watch it:

[flv http://video.thinkprogress.org/2008/02/dobbswar.320.240.flv]

Transcript:

DOBBS: A couple of things. About how many homes are now estimated in this country to be under water? That is, people owing more than their homes are worth? And secondly, what percentage of the homes?

ROMANS: According to Moody’s Econony.com, it’s 8.8 million right now, and Goldman Sachs looking out for the rest of the year, it its chief U.S. economist said they’re expect 30 percent, that would be 15 million homeowners.

DOBBS: The Goldman Sachs economists?

ROMANS: Yes.

DOBBS: I wonder if the CEO of Goldman Sachs, Lloyd Blankfein knows the chief economist because this is the same moron who was complaining about the fact apparently, according to Liz Smith that I have a few questions and concerns about this economy and he sees the economy as just fine.

Perhaps Lloyd would like to come on here and show me the error of my ways and educate me perhaps from his lofty Wall Street perch on how millions of Americans are faring and what their prospects are. Lloyd, you certainly — I would love to have you do it. I would love to have you come on and talk to my face, not to my back, partner. I know it’s not the way you do it on Wall Street there, hot shot, but try it here. Come on down. Open invitation.

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