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I wish I had a job where I was paid no matter how bad my performance and got a fat bonus every time I actually did what I was hired for.
I guess it's just another example of our modern society's tendency to reward mediocrity.
They using our tax dollars to do the same crap they were doing before. We needed to let all of these asses fail - that is what free enterprise is - free to f*ck up if you want to, but not my biz to bail out your f*cked up ass!
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.
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.
Thank you. Goldman Sachs is the leader in this industry. Its reputation is unblemished even through the last 3 years.
If any firm deserves them it is this one. If you want to argue about the overall industry payouts that is a different argument.
Goldman, which reimbursed a 10-billion-dollar federal bailout in full in the second quarter, said its net profit soared 65 percent thanks to robust trading operations.
Why do we deserve the money? I don't recall going to work there executing trades or getting IB business. If you mean because they were forced to take $10 billion in TARP money which they paid back as soon as the government allowed them. I am not sure that makes any sense. Plus don't forget the warrents. The government stands to make a pretty penny on this.
If they paid back their debt and made a profit, I can't see a reason to complain as long as whatever methods they employed to make the current profits were not accomplished in the same vein of business that helped get this country in the mess we're currently in.
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.
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