A topical collection of shitheadery ...

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Goldman Sachs

ap_goldman_sachs_070810_mn It's good to take risks. That's what the financial d-bags have being doing to rake in record profits. That's how they paid themselves million2 a year and that's how they gave multi-million dollar bonuses to their top frat boy gamblers of the firm.

They did it before and they fucked up and we bailed them out and now their taking our money and hedging their bets again. This time they won - $2 billion in second quarter earnings - woo hoo, ride 'em cowboy. But let's ask this question: What if they hadn't. What if the risks they took with our money went belly up again? Then what?

Who pays then? And why are they being allowed to gamble bailout money. These are the same asshats who refuse to negotiate mortgages, who layoff employees in tough economic times, and spend $1.4 million a day on lobbying efforts to deregualte even more.

The same effers who caused this cluster fuck - ungrateful arrogant pricks.

Articles on GS

Taibbi and others - GritTV

Taibbi interviewed on GritTV

"They frankly own the place," Dick Durbin said back in April referring to the power that banks hold over policy decisions in Washington. If they own the place, presumably they can make the rules. But as Goldman Sachs brings in record profits and prepares to dole out handsome bonuses to employees and executives, many are lauding the company's willingness to take risks. So is Goldman Sachs, dubbed by many 'Government Sachs,' a risk taker or a coup maker? And what will it take to confront what may be the most powerful lobby in American history?

Click here to go to blip

CNN Interview

Goldman Sachs bites Uncle Sam

A good overview of just how Goldman is screwing us. Check out the interview in the video. There's a good chance what they did was in fact illegal. Let's see if they're too big to go to jail. I know the answer to that.

"Goldman, flush with cash and profits, is squabbling with the Treasury about how much it should pay taxpayers to buy back the stock purchase warrants it gave the government as part of the TARP deal. Talk about tacky."

Taiibbi TV

Taibbi Talks

Taibbi Matt taibbi on Break Room Live about Goldman Sachs.

"I think what happened was that Wall Street traditionally had at least a minimum level of societal concern and ethics, and that just disappeared in the mid-90s. And now its completely gone."

Max Keiser

Goldman Sachs Are Scum

Goldman Sachs owes us each about $10,000 in warrants. This last winfall was as a result of our benevolance and we should be getting some of that money back. Finally here's someone (Max Keiser) saying what we're all feeling. What the administration should be saying.

“They are literally stealing a hundred million dollars a day. Goldman Sachs is stealing every day on the floor of the exchange. They should be in the Hague, they should be taken on financial terrorism charges. They should all be thrown in jail”

Click for video:

Taibbi

The real price of Goldman’s giganto-profits

"So what’s wrong with Goldman posting $3.44 billion in second-quarter profits, what’s wrong with the company so far earmarking $11.4 billion in compensation for its employees? What’s wrong is that this is not free-market earnings but an almost pure state subsidy."

Clusterstock

This Time Matt Taibbi Nails Goldman And The Bailout
“Goldman will surely deny that its risk-taking is subsidized by the taxpayer -- but then so did Fannie Mae and Freddie Mac, right up to the bitter end. An implicit government guarantee is only free until it's not, and when the bill comes due it tends to be huge. So for the moment, Goldman Sachs -- or should we say Goldie Mac? -- enjoys the best of both worlds.
Read More >>

New York Times

The Joy of Sachs

ts-krugman-190 Krugman finally and atypically swats Goldman. Maybe the guys, like Klugman, who were blown away by the seemingly genius ability of these theives are starting to get a little disillusioned by the arogance and hubris they exhibit in their actions.

"...it shows that Wall Street’s bad habits — above all, the system of compensation that helped cause the financial crisis — have not gone away."

Arianna Huffington

The Wall Street Journal Goes After Goldman and the Bank Bailout

"I'm planning to shrink down today's Journal, laminate it, and hand it out anytime someone in the media starts analyzing the economy using the cobweb-covered, tried-and-untrue right vs. left framing.

You know that this way of looking at financial policy is dead and buried when Rupert Murdoch's pride and joy is publishing takes that I could happily have written myself."

WSJ

A Tale of Two Bailouts
"We like profits as much as the next capitalist. But when those profits are supported by government guarantees or insured deposits, taxpayers have a special interest in how the companies conduct their business. Ideally we would shed those implicit guarantees altogether, along with the very notion of too big to fail. But that is all but impossible now and for the foreseeable future. Even if the Obama Administration and Fed were to declare with one voice that banks such as Goldman were on their own, no one would believe it."
Read More >>

Seattle Times

Big Profits for Wall Street Powerhouse

"Goldman pulled off a remarkably speedy recovery from last fall, when it lost $3.3 billion in four months during the worst of the financial crisis. And it had its best quarter since the end of 2007, when the recession was just beginning."

Yeah with our money. OUR MONEY!!!

CNN

What Wall Street owes you

art.janet.tavakoli How I see it, is Goldman fucked up. Took billions of taxpayer money, bet it all on 32-black and ....

... set aside $11.4 billion for employee compensation and benefits, up 33 percent from last year. That's enough to pay each employee more than $390,000, just for the first six months of this year.

Lloyd Blankfein, the CEO of these asshats - the same ones that were begging for help a few months ago raked in $68.5 million alone.

Financial Times

Goldman sold $700m of stock

r-WALL-STREET-mediumvariable

Is this really a surprise that they were dealing while a ship was sinking and they were being rescued by people who make $8/hr?

Executives at Goldman Sachs sold almost $700m worth of stock following the collapse of Lehman Brothers last September, according to filings with the Securities and Exchange Commission.

Bloomberg

Goldman Sachs Reverts to Pre-Lehman Risk
...poised to report the largest profit since it set earnings records in 2007, marking the return of a business model that was the envy of Wall Street before the financial crisis devastated competitors and spurred a government bailout.
Read More >>

Taibbi Rolling stone

Taibbi on Goldman Sachs

Taibbi Usually I'd link to an article, but I had a really hard time finding this one on Rolling Stone and truth be told it's an awesome one by Matt Taibbi of Rolling Stone. It was really hard to not resist putting it up here and hopefully giving the attribution will keep it all nice and legal.

You may want to print this out, staple it, roll it up, and take it to the shitter ... or curl up and read it. It made me want to crap and fall into a fetal position all in one read.

Also don't forget to check out this issue of Clusterzine for more Goldman Shitheadery.

Enjoy the read:

From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again.

By MATT TAIBB
...
Read More >>

Rolling Stone
Rolling Stone - Matt Taibbi Matt Taibbi's extended and extensive look into Goldman and their vampire-squid hold on the country and its money. From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again. ... Read More >>

Time
The Rebutle to Taibbi Time put together a kind of rebutle piece to taibbi's Goldman article. "Taibbi's article is a compilation of just about every conspiracy theory ever dreamed up about Goldman Sachs, but what real substance is there to support the theories?" ... Read More >>