Comments on: Just How Sorry is Goldman Sachs? http://wallstreetpit.com/12220-just-how-sorry-is-goldman-sachs Tue, 22 May 2012 19:21:52 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: tim jones http://wallstreetpit.com/12220-just-how-sorry-is-goldman-sachs#comment-81493 tim jones Thu, 19 Nov 2009 05:03:58 +0000 http://wallstreetpit.com/?p=12220#comment-81493 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. 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. 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.

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: Frank Fitton http://wallstreetpit.com/12220-just-how-sorry-is-goldman-sachs#comment-81475 Frank Fitton Thu, 19 Nov 2009 01:59:42 +0000 http://wallstreetpit.com/?p=12220#comment-81475 The $500 million though is really a drop in the bucket compared to the kinds of numbers this company throws around. Its almost insulting in a way, but at this point we are the dog underneath the table and are willing to take whatever scrapes these people want to toss our way. So are we supposed to get excited about this? I wouldn’t exactly say that, but I wouldn’t completely scoff at it either. They didn’t have any reason or were mandated to do this in anyway. Of course its a blatant PR move, but its not a bad one. Its really in their best interest too for as the economy soars so do their profits. Its really just a win win situation for everyone involved. Some more money possibly in line with the kind of money they’ve been paying out in bonuses would have been nice, but who are we really to complain. I don’t really blame Goldman Sachs for the financial crisis, they were simply going about their businesses. Looking back at it, things could have been done differently of course, but hindsight is always 20-20. Its refreshing to see someone step up to the plate and admit that they didn’t handle things as well as they could have. Is it sincere? Probably not, but at this point its all we’re going to get and its better than nothing. Check out my blog on the Goldman Sach's penance offering at.... http://www.thedebtgazette.com/2009/11/goldman-500-million-penance/ The $500 million though is really a drop in the bucket compared to the kinds of numbers this company throws around. Its almost insulting in a way, but at this point we are the dog underneath the table and are willing to take whatever scrapes these people want to toss our way.

So are we supposed to get excited about this? I wouldn’t exactly say that, but I wouldn’t completely scoff at it either. They didn’t have any reason or were mandated to do this in anyway. Of course its a blatant PR move, but its not a bad one. Its really in their best interest too for as the economy soars so do their profits. Its really just a win win situation for everyone involved. Some more money possibly in line with the kind of money they’ve been paying out in bonuses would have been nice, but who are we really to complain.

I don’t really blame Goldman Sachs for the financial crisis, they were simply going about their businesses. Looking back at it, things could have been done differently of course, but hindsight is always 20-20. Its refreshing to see someone step up to the plate and admit that they didn’t handle things as well as they could have. Is it sincere? Probably not, but at this point its all we’re going to get and its better than nothing.

Check out my blog on the Goldman Sach’s penance offering at…. http://www.thedebtgazette.com/2009/11/goldman-500-million-penance/

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