Comments on: Just How Sorry is Goldman Sachs?

By: tim jones

tim jones — Thu, 19 Nov 2009 04:52:00 +0000

And one more important point:

Let’s face facts: the only way any firm can generate the kind of gargantuan profits, year after year, that GS generates is via INSIDER INFO.

Sure is nice to have a GS proxy (Rubin, Paulson, Geithner) sitting in the US Treasury, year after year, passing inside info to the Boys at GS head office, huh?

Let’s just pray that these GS slimebags are thwarted in taking control of the State of California via their latest proxy, Meg Whitman, who sat on GS Board of Directors and stole millions, thanks to inside info passed to her regarding GS sponsored tech IPO’s.

By: tim jones

tim jones — Thu, 19 Nov 2009 04:44:55 +0000

Isn’t it sweet that this Blankfein slimebag is giving $500 million to small businesses as a means of indicating how “sorry” he is for years of malfeasance?

That happens to be $500 million of YOUR money, stolen via derivatives schemes concocted by Goldman and/or TARP money skimmed off the top.

In 2006, Goldman Sachs paid its approx 300 partners approx. $15 BILLION dollars in bonus money alone, so their little “gift” of $500 million is like a tiny fraction of money they STOLE from USA investors through phony profits generated via multi-years of their derivatives schemes, notably shorting the housing market, shorting the gold/silver market, shorting tech stocks back in 2000, etc.

Until those GS weasels are indicted and incarcerated, then their little “token” gestures of “compensation” for past crimes are entirely laughable and truly contemptible.

By: Lori

Lori — Wed, 18 Nov 2009 19:24:52 +0000

Do not forget that the gold sachs backdoor bailout also bailed out international’s with American Taxpayer dollars!

http://www.economicpolicyjournal.com/2009/11/aig-bailout-not-only-bailed-out-goldman.html

If they are sorry they should make restitution!

By: Larry Doyle

Larry Doyle — Wed, 18 Nov 2009 16:22:46 +0000

In regard to the $500 million, don’t think for a second that GS and/or Buffett are doing that for anything less than a profit opportunity.

By: Petricone456

Petricone456 — Wed, 18 Nov 2009 16:04:45 +0000

Blankfein has Helicopter Ben and Turbo Tim Geithner’s playbook and his firm is making a ton of money as a result…

Take a look at home much money GS has been making from ‘interest income’ recently versus a few years back. There is billions in incremental profit that GS is making by levering all that free taxpayer money on its repo desk to lock in historically wide spreads on Treasuries, agency MBS, etc…

Oh yeah, and that ‘weak dollar’ business we’re all talking about (its explained on page 1 of the Helicopter / Turbo playbook) kind of helps Goldman’s Fixed Income, Currency, Commodities (FICC) trading.

One would think you’d never need to apologize for doing ‘God’s work’. However, I think the American public might be more willing to accept a Blankfein apology if GS dug a a lot deeper into its pocket and offered up more than $500 million to aid small businesses.

By: fiscalliberal

fiscalliberal — Wed, 18 Nov 2009 13:37:48 +0000

First of all, we have not heard from any of the surviving banks in terms of how they would change the system to prevent another fisaco like this. They want to continue as is.

Furthermore, I would suggest they did not run over Geitner. He and Paulson were complicent with Goldman. If you read Sorkin’s book and others, Geitner and Paulson had no trouble in dictating to Bear Stearns, Lehman and Merrill. However they ended paying off Goldman. You look at the results and the telephone logs in that period and how can you conclude anything different.

More over Goldman was in the room while the decisions on AIG bailout were made – I have heard a lot of industry people on CNBG saying this was highly irregular.

By: Bill

Bill — Wed, 18 Nov 2009 04:38:29 +0000

You can read Galbraith’s The Great Crash to see how these freebooters and privateers at Goldman engaged in the same sort of thing then that Blankfein now apologizes for in the most recent raping of the financial sector. They’ll sail on, however, because they have bought and paid for the assholes in Washington who purportedly represent the interest of the public.