GIVE IT BACK GOLDMAN!

[Joanne98]

Wall Street Welfare Queen Average
Bonuses $1.0 Million Per Employee

The Money Party at Work


Michael Collins


There are a number of stories out there about Goldman Sachs gaining unfair advantage in the financial markets. One concerns a former employee who allegedly swiped a special program to maximize automated stock trades. Questions were raised about the propriety of this since Goldman is hauling in tons of cash on a daily basis while others struggle. A variation of this story involves speculation that Goldman gets insider information through some internet scheme and uses that to maximize their haul.

But the biggest outrage is what's happened in public.

We Made Goldman Sachs what it is Today

If it weren't for our tax dollars and the cash flow that citizens provide for the United States Treasury, Goldman Sachs would have joined Bear Sterns and Lehman Brothers in the graveyard of financial high flyers.

But they were saved. Bush Secretary of the Treasury Henry Paulson came to the rescue when he assured that one of Goldman Sachs most important customers, the AIG group, survived a financial mess of its own creation.

Our original contribution was in the $20 billion range but then our elected representatives helped Goldman even more when they jacked up the subsidy to $85 billion. That's enough money to hire a workforce of one million people at a salary of $60,000 a year, plus benefits.

Had AIG tanked, Goldman would have been in very serious trouble. In September 2008, Paulson, a former CEO of Goldman met with Tim Geithner, soon to be President Obama's Secretary of the Treasury, when Geithner headed up the New York Federal Reserve Bank. Goldman's CEO was "the only Wall Street chief executive" at the critical meeting.

This back room meeting was exposed by Gretchen Morgenson in an outstanding New York Times article: "Although it was not widely known, Goldman, a Wall Street stalwart that had seemed immune to its rivals' woes, was A.I.G.'s largest trading partner ... A collapse of the insurer threatened to leave a hole of as much as $20 billion in Goldman's side, several of these people said." Sept. 27, 2008


While Lehman Brothers got nothing, AIG got some serious cash and survived, thus assuring Goldman's survival. Secretary Paulson and then New York Fed president Geithner came through with the guarantees. When Paulson left with Bush, Geithner showed up to take Paulson's place at Treasury. The beat goes on.

It's The Money Party at work. They have no permanent friends or permanent enemies, just permanent interests. Goldman's interest was turning a sow's ear, the financial collapse that they helped create, into a silk purse. Mission accomplished.

Goldman's chief financial officer attributed the $39 million a day income to the firm's reputation for "very, very strong culture of risk management." Is he kidding? Their success is based on that $85 billion of our money that saved their asses. Goldman's average $1.0 million per employee bonuses wouldn't exist were it not for citizens paying for their survival.

Continued>>>>
http://www.opednews.com/articles/GIVE-IT-BACK-GOLDMAN-by-Michael-Collins-090716-926.html

[stray cat]

1. I thought they already had?

[Hydra]

2. Watch the Jon Stewart Vid, he sums it up well

Them giving back the tarp money is like the bank robber handing over his change purse and saying "That's all I took!"

[Hugin]

3. Paid back a bailout they never admitted getting in the first place?

As per Unka Hank laundering it via AIG as a back door payoff at 100 cents/dollar?

Last I heard they reported it as profit!

:rofl:

All I can say is... LINK PLEASE!

[autorank]

9. I was referring to the bonuses but also the larger issue of insider preference

Goldman got $10 bil I believe and gave it back. But what they really got was survival since WE bailed out
AIG for $85 billion. Goldman got $12.9 bil. of that bailout plus stayed alive because AIG, their biggest
customer/trading partner stayed in business.

What a load of garbage this is. How much did Saint Buffet put in to Goldman? What share did he get?
How much did we put in (including the $85 bil. to AIG? What share did we get?

Welfare for the ultra rich and survival of the fittest for the rest of us.

It's all about The Money Party winning every single battle.

[Tansy_Gold]

4. Another of them has been appointed to a high level position in the

Odollah administration.

Ain't nothin' gonna happen, folks. Nothin' at all 'cept they's gonna suck even more outta our pockets and stash it in theirs. We ain't gettin' health care, we ain't gettin' mortgage relief, we ain't gettin' jobs. They is takin' it all, every goddess-damned one of 'em.

Obama, Odollah. It's all he ever cared about, from day one. Bein' like one o' them rich folks. Color don't matter, 'cept maybe green or gold.

What a fucking liar. Ain't done one thing to prove he ain't.





Tansy Gold

[inna]

8. Odollah?

huh?

http://www.google.com/search?hl=en&as_q=+Odollah&as_epq=&as_oq=&as_eq=&num=10&lr=&as_filetype=&ft=i&as_sitesearch=&as_qdr=all&as_rights=&as_occt=any&cr=&as_nlo=&as_nhi=&safe=images

[Wednesdays]

5. K&R

:kick:

[formercia]

6. Goldman Sachs is sucking the financial lifeblood out of the US

and giving it to their employees and stockholders. A pox on their house.

[Joanne98]

7. EXACTLY! It's a giant vampire squid!

[autorank]

10. Joann98 THANKS for posting this. IIt's our "friends" The Money Party

The Money Party in action.