Goldman Sachs: Pic of the day

Why do people bitch and moan about GS?

We're a capitalist system with inherent weakness in the entire political process from the functional retard voter to functional retards in the media pandering to the above mentioned functional retard voter.

So why is it a mystery those who are smarter and more well organized will eventually rise to control everything ?
 
Quote from FB123:

I never said that Goldman would have gone down if AIG went down, I said if the government hadn't stepped in and shored up the whole system after Lehman failed then Goldman probably would have gone down too. In any case if you actually believe that load of crap about unbridled greed being good for all of us, then you really are a complete moron. Maybe there are firms out there that are ethically and morally sound, but GS sure as hell isn't one of them.

In any case, you keep on living in dream-land. If you are too dumb to see that the whole system was set up this way from Day 1 for the benefit of the rich and powerful and that the whole game is rigged, then there is nothing I can do for you. It doesn't really doesn't matter very much anyways, since none of us are going to change it... I've probably already wasted too much time on this useless topic as it is.
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Registered: Aug 2009


No one mentioned "unbridled greed". And no, there are no ethically sound firms.....anywhere....

You've missed the point almost entirely. Who cares if it was setup this way from Day 1? The fact remains those that innovate, invent and are successful can go form rags to riches even today. THAT's the promise of America: that anyone can become successful. Please note that not everyone will or is entitled to!
 
Quote from fkbsuhites:

Why do people bitch and moan about GS?

We're a capitalist system with inherent weakness in the entire political process from the functional retard voter to functional retards in the media pandering to the above mentioned functional retard voter.

So why is it a mystery those who are smarter and more well organized will eventually rise to control everything ?
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Why do people bitch and moan about people who bitch and moan about GS?

The anger towards the man behind the curtain is just as predictable and cyclical then the man behind the curtain himself.

Get over it.
 
Quote from krazykarl:

Registered: Aug 2009


No one mentioned "unbridled greed". And no, there are no ethically sound firms.....anywhere....

You've missed the point almost entirely. Who cares if it was setup this way from Day 1? The fact remains those that innovate, invent and are successful can go form rags to riches even today. THAT's the promise of America: that anyone can become successful. Please note that not everyone will or is entitled to!
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I don't disagree with the notion that western society affords people the ability to rise above their station through hard work and talent, and that this is good. But at the highest levels, this principle does not apply. Once you get past a certain point, it is not about merit or how hard you work any more, it is about who you know. The people that earn those massive bonuses at GS and other firms are not getting that money because they deserve it for all their hard work - they are getting paid those exorbitant sums because they have rigged the system to allow them to do that, at the expense and risk of everyone else. So that's where the free enterprise model kind of breaks down, because the playing field is not even remotely level any more at that point. They own the system, and they are stealing wealth from everybody else. Anyways, as I have said a dozen times before, none of this matters since we can't change it, so there isn't much point in continuing the discussion.
 
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I'm in the same business as they are. Making money from money. I don't care if GS gets another Trillion or so. If they do, they deserve it because they play the game better.

It all started with Reaganomics and retard voters re-electing guys like Tom DeLay, Phil Gramm and Chris Dodd into positions of power.

Moralizing is for the average fool voter who let's the fox into the hen house then wonders why he has no hens.

Enjoy their new SEC chief.




Quote from Debaser82:

Why do people bitch and moan about people who bitch and moan about GS?

The anger towards the man behind the curtain is just as predictable and cyclical then the man behind the curtain himself.

Get over it.
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walk us through it, smartass.

You think you can lend out what you borrow at zero? Well look at BoA and Citi results then you see clearly what losses they had to write off on the back of their credit card business. So much to the responsible American consumer, LOL!!!

Not sure who looks more stupid now...



Quote from GTS:

Seriously? Can you be this stupid?
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Quote from asiaprop:

walk us through it, smartass.

You think you can lend out what you borrow at zero? Well look at BoA and Citi results then you see clearly what losses they had to write off on the back of their credit card business. So much to the responsible American consumer, LOL!!!

Not sure who looks more stupid now...
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Strawman.

Goldman made a ton betting on derivatives, but was only paid because Uncle Sugar plowed hundreds of billions into counterparties of Goldman that would have surely folded or come up light.

Also, Goldman was an "investment bank," and not exposed to the RMBSs that BAC and Citi were - does this make BAC and Citi dumber, as a relative matter? Absolutely, but it doesn't play into your propaganda that Goldman didn't receive favoritism and wouldn't have been mortally wounded without taxpayer $$$ and special rules allotted.

Fact: Goldman is a welfare queen. It's very survival depended on a massive injection, both direct and indirect, of taxpayer redistributed dollars by the Federal Reserve and Treasury, in concert.

Fact: Hank Paulson, ex-CEO of Goldman, had over 200 million in Goldman options swaying in the wind during the financial crisis, and during the time he helped craft policy picking Wall Street winners and losers, deciding who would get what.
 
Quote from asiaprop:

walk us through it, smartass.

You think you can lend out what you borrow at zero? Well look at BoA and Citi results then you see clearly what losses they had to write off on the back of their credit card business. So much to the responsible American consumer, LOL!!!

Not sure who looks more stupid now...
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You truly think that there was no marketing at all to persuade the American consumer to spend spend spend? People are encouraged to spend and rack up credit card bills. Do you think it's in the interest of CC companies for everyone to pay their bill in whole every month or carry a balance over with some nice fat interest rates?

Banks have become crack dealers, pure and simple. Unfortunately most people when they take that first plasticky hit are hooked for life. I'm not saying people aren't stupid, they are, but since we know this we should arrest the pushers, because the addicts can't seem to help themselves and this dynamic is only good for the drug dealer in the end.
 
Quote from wutang:

You truly think that there was no marketing at all to persuade the American consumer to spend spend spend? People are encouraged to spend and rack up credit card bills. Do you think it's in the interest of CC companies for everyone to pay their bill in whole every month or carry a balance over with some nice fat interest rates?

Banks have become crack dealers, pure and simple. Unfortunately most people when they take that first plasticky hit are hooked for life. I'm not saying people aren't stupid, they are, but since we know this we should arrest the pushers, because the addicts can't seem to help themselves and this dynamic is only good for the drug dealer in the end.
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Do you remember what Bush said after 9/11? Go spend some money. Approx. 70% of GDP is consumer spending. That may have changed after the downturn in the last 12 months.
 
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