Comments on: Goldman Sachs Doing God’s Work?

By: Ezekiel

Ezekiel — Fri, 13 Nov 2009 16:52:27 +0000

THE LLOYD’s Prayer
Our Chairman,
Who Art At Goldman,
Blankfein Be Thy Name.
The Rally’s Come. God’s Work Be Done
On Earth As There’s No Fear Of Correction.
Give Us This Day Our Daily Gains,
And Bankrupt Our Competitors
As You Taught Lehman and Bear Their Lessons.
And Bring Us Not Under Indictment.
For Thine Is The Treasury,
The House And The Senate
Forever and Ever.
Goldman.

By: fiscalliberal

fiscalliberal — Tue, 10 Nov 2009 20:40:40 +0000

I would credit Goldman in that they recognized the mortgage securities were toxic and suspended purchases. However according to the McClatchy article, they sold the assets to investors knowing they were toxic and then bought insurance against them. Now – Treasury and the Fed paid Goldmand and the foreign banks 100% par on the AIG insurance.

So – tell me that Goldman did not recieve direct support to bail out their bad decisions.

Larry – they can extol the objectives you cite in their defense, but ths fact of the matter is it all went bad and one has to say, their they did not know what the risk was. It is the role of a manager to assess, take and manage risk. One has to wonder about their moral credibility

These guy’s need to face criminal charges for the havoc they confered on their employee’s and the citizens of this country. As soon as I hear people invoking God or Patriotism, I say watch out. Dick Cheney and George Bush said patriots were doing God’s work in Iraq. How did that work out. I contend the went there for oil and in the end, got none of it. What was the ROI on that.

By: Matt

Matt — Tue, 10 Nov 2009 18:32:08 +0000

THANK YOU Larry. AMEN sir. I was curious as to your thoughts on this story. I have no problem whatsoever with Goldman Sachs trying to maximize profits and grow their company. As long as they are not receiving and asking for government welfare/bailouts, I also think they can pay their executives and employees as much as they want. But to say that they’re doing “God’s work” is definitely arrogant and just outrageous. Christianity has nothing to do with maximizing profits and maximizing financial wealth at any cost. I would tell Mr. Blankfein that if he is truly upset and hurt by all of the recent criticism, then he should never have accepted one penny of bailout money in any form from TARP or the Fed or the Treasury or the AIG bailout. He also shouldn’t have been on the phone every day with Hank Paulson during September of 2008.