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Everything that is wrong with America can be related back to Goldman Sachs short it
- Thread starter retaildaytrader
- Start date
Quote from wmb:
But really, the douche knows the real douchebags dont give a shit about anybody or anything only the frickin buck they can make off the tax payers dime! this company is going first and fast!
you're just plain wrong. now I'm not saying everyone on wall st. is an angel, but every bank was REQUIRED to take TARP money - even the ones that didn't want/need it. The only reason GS had anything to do with "taxpayer money" is becuase the Fed FORCED THEM TO TAKE IT. There is a reason they were the first to pay it back, as soon as the Feds allowed TARP money to be payed back.
Just because someone is successful doesn't mean they're doing anything illegal/shady. People tend to work-backwards from success until they find something they don't understand, then it's automatically "shady" or "wrong" or "must be illegal!!1!!" - I'm just tired of the uneducated and inexperienced assuming the worst. They use bits-and-pieces of things they have read to concoct some wrong-doing when there was none. GS has always made a lot of money, the smartest guys want to work there and always have.
Quote from krazykarl:
you're just plain wrong. now I'm not saying everyone on wall st. is an angel, but every bank was REQUIRED to take TARP money - even the ones that didn't want/need it. The only reason GS had anything to do with "taxpayer money" is becuase the Fed FORCED THEM TO TAKE IT. There is a reason they were the first to pay it back, as soon as the Feds allowed TARP money to be payed back.
Blankfein himself aknowledged GS would not have survived without government assistance.
Quote from Debaser82:
Blankfein himself aknowledged GS would not have survived without government assistance.
Link please. Here is video of LB saying the exact opposite:
http://money.cnn.com/video/fortune/2009/10/16/f_sl_blankfein_goldman_pay.fortune/
The thing I like about video is that you can't take comments out of context.
Quote from krazykarl:
Link please. Here is video of LB saying the exact opposite:
http://money.cnn.com/video/fortune/2009/10/16/f_sl_blankfein_goldman_pay.fortune/
http://www.elitetrader.com/vb/showthread.php?s=&threadid=177530&highlight=blankfein
I do not miss any opportunity to express my appreciation for what the governments and central banks have done.
We can not live without a healthy system. In the days after the collapse of Lehman Brothers, when everyone was panicking, we received $5 billion from Warren Buffett and then raised $5 billion from public equity investors. But, we couldn't make ourselves healthier than the system. Those who fail to recognize that the aid given by governments to the financial system benefited everyone are DELUDING themselves.
Quote from Debaser82:
http://www.elitetrader.com/vb/showthread.php?s=&threadid=177530&highlight=blankfein
I do not miss any opportunity to express my appreciation for what the governments and central banks have done.
We can not live without a healthy system. In the days after the collapse of Lehman Brothers, when everyone was panicking, we received $5 billion from Warren Buffett and then raised $5 billion from public equity investors. But, we couldn't make ourselves healthier than the system. Those who fail to recognize that the aid given by governments to the financial system benefited everyone are DELUDING themselves.
LB is talking about the economy, not GS. That's like saying humans can't live without the Sun. Duh. If the army had to take to the streets businesses all over would be destroyed; that would be a pretty unhealthy system. If the economy was annihilated there would be no need for banks, again, pretty unhealthy system.
LB says nothing in your link about GS not surviving without taking TARP money. GS had over 15 billion of capital ready to be infused from the private capital markets, but instead they got 10B in TARP funds rammed down their throats for good reason: so everyone had confidence in the system. If any [major]bank didn't take TARP money people would instantly know who the strong banks were and who the weak banks were. This would have crushed the weak banks and caused more problems.
Quote from krazykarl:
LB is talking about the economy, not GS. That's like saying humans can't live without the Sun. Duh. If the army had to take to the streets businesses all over would be destroyed; that would be a pretty unhealthy system. If the economy was annihilated there would be no need for banks, again, pretty unhealthy system.
LB says nothing in your link about GS not surviving without taking TARP money. GS had over 15 billion of capital ready to be infused from the private capital markets, but instead they got 10B in TARP funds rammed down their throats for good reason: so everyone had confidence in the system. If any [major]bank didn't take TARP money people would instantly know who the strong banks were and who the weak banks were. This would have crushed the weak banks and caused more problems.
If they benefited from the bail out of their weaker peers they benefited themselves period.
The rest is semantics.
Good call, retaildaytrader. I got over a buck per share today off the beanie hat wearing bastards. I could have had 5, but I'm not a pig like GS.