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Goldman Sachs is one of if not THE most corrupt businesses on this planet.
I dont think they have to be corrupt -- the money game is "corrupt" all by itself. I dont see any indictments being handed down.
This says it all as far as Im concerned about people who live and breathe money:
"The first thing you need to know about Goldman Sachs is that it's everywhere. The world's most powerful investment bank is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money."
(That link also has a quote from Noam Chomsky, you might like him, txboomerang )
But Im sure their profits are legitimate. Their every step is scrutinized -- and they're so big and so successful they dont need to break laws.
The problem is they're SO big and powerful -- they and a few other financial beasts -- that they can affect the fates of nations. But that's capitalism.
Goldman Sachs made a killing off the bailout of AIG, since Goldman was one of AIG's largest counterparties. The government stepped in and ensured that AIG's debts were paid out at an incredible 100 cents on the dollar.
And now Goldman apparently has people believing they made all this profit just by "being smarter" and "making good trades."
Well sure, it's a pretty "good trade" when you regularly cycle your former CEOs into the Treasury Department...
I hope no one here is actually fooled by this particular scam, though it appears some are.
At least someone gets it - but as for the others, i guess you can get fooled all the time.
“I, for one, would like to know why Goldman Sachs and other Wall Street firms were allowed to abscond with so much of the rescue money that AIG received from the government,” said economist Ed Yardeni of Yardeni Research Inc.
well, of course they had a good quarter. They're the smartest investment firm in the world. People and businesses are going to trust their money to them ESPECIALLY in iffy times.
i think you might get an argument whether they were the smartest firm on wall street or the most connected firm on wall street.....
Goldman Sachs is not a wealth producing enterprise it’s a wealth stealing enterprise, be you and investor, client, or the taxpayer, they steal the wealth from you and to give it to them.
Goldman was humbled along with the rest of Wall Street when the financial markets froze last year. As a result, it lost money in the final quarter, a rarity for the bank. Along with other big banks, it was compelled to accept billions of dollars in federal aid, which it paid back last month.
But not the $13 billion Sachs got funneled through AIG, or the $28 billion big it borrowed on the cheap on you and me via the Federal Deposit Insurance Corporation.
Sure Goldman was humbled when the financial markets froze, and they had to pick the peons pockets for $10 billion in pennies, but unlike the rest of Wall Street Goldman blames you for it. So now in move of enormous up yours-manship with a virtual monopoly on the commodities markets Goldman prepares to say Vuck you, with huge profits, made on the money you lent them and gave them without wanting to, while you clip coupons and edge towards the unemployment lines.
(bank implodometer)
by the way,2009-07-14 — housingwire.com
"Goldman Sachs Group (GS: 150.36 +0.62%) posted strong $3.44bn net earnings for the second quarter of 2009 (Q209) DESPITE A $700 MILLION DOLLAR LOSS ON COMMERCIAL MORTGAGES.
This is my first post and I thought I would spare you my long winded commentary. I am posting a link on Goldman Sach's and how they have the upper hand on manipulating the market.
The article shows how they fuel and profit on bubbles such as the dot.com and housing. They are front and center on the next bubble which is going to be cap and trade after our leaders pass the bill.
Here is something that the {R} of the forum might be shocked by, here is a teaser talking about our good friend Hank Paulson form the Bush admin :
Back in 2005, when Hank Paulson was chief of Goldman, he personally helped author the bank's environmental policy, a document that contains some surprising elements for a firm that in all other areas has been consistently opposed to any sort of government regulation. Paulson's report argued that "voluntary action alone cannot solve the climate-change problem." A few years later, the bank's carbon chief, Ken Newcombe, insisted that cap-and-trade alone won't be enough to fix the climate problem and called for further public investments in research and development. Which is convenient, considering that 'Goldman made early investments in wind power (it bought a subsidiary called Horizon Wind Energy), renewable diesel (it is an investor in a firm called Changing World Technologies) and solar power (it partnered with BP Solar), exactly the kind of deals that will prosper if the government forces energy producers to use cleaner energy. As Paulson said at the time, "We're not making those investments to lose money."
The article is a very lengthy read but is worth the effort. And I will worn you that I am not educated but would appreciate any feed back to debate or learn from. Go here : The Great American Bubble Machine | Corrente
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) 
A lot of blood has paid for their money.