Follow us on...
Follow us on Twitter Follow us on Facebook Watch us on YouTube
Register
Results 1 to 7 of 7
  1. #1
    Sinner's Swing! Jesus H Christ's Avatar
    Join Date
    05.20.07
    Location
    Boston
    Posts
    3,884
    Favorite VH Album

    Van Halen II
    Favorite VH Song

    Outta Love Again
    Last Online

    12.13.17 @ 12:58 PM
    Likes
    903
    Liked 1,689 Times in 644 Posts

    Default Goldman Sachs Head Says Banks Do 'God's Work'

    In a free market, his comments about banks serving the public would be true, but we do not have a truly free market system, we have a system where elitist assholes like this use centralized banking to game the system in favor of themselves & steal from everyone else. Fuck him.



    http://www.cnbc.com/id/33783316
    The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, believes banks serve a social purpose and are doing "God's work".

    In an interview with London's Sunday Times newspaper, Lloyd Blankfein also said he believed big profits and bonuses at banks were a sign that the world economy was recovering.

    "We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. We have a social purpose," the head of Goldman Sachs [GS 174.27 2.49 (+1.45%) ] told the paper.

    The dominant Wall Street bank posted third-quarter earnings of $3 billion and plans to hand out more than $20 billion in year-end bonuses.

    Blankfein told the Sunday Times that the bank's compensation practices correlated with long-term performance.

    "Others made no money and still paid large bonuses. Some are not around anymore. I wonder why?"

    He added that he understood, however, that people were angry with bankers' actions: "I know I could slit my wrists and people would cheer."

    Why Goldman Always Wins
    http://www.truthout.org/110709C
    In the midst of the worst recession since the Great Depression, Goldman Sachs is having a banner year. According to an October 16 article by Colin Barr on CNNMoney.com:

    "While Goldman churned out $3 billion in profits in the third quarter, the economy shed 768,000 jobs, and home foreclosures set a new record. More than a million Americans have filed for bankruptcy this year, according to the American Bankruptcy Institute."

    Barr writes that Goldman's "eye-popping profit" resulted "as revenue from trading rose fourfold from a year ago."

    Why Goldman always seems to win at this game became evident in a revealing incident last summer, in which the bank sued an ex-Goldman computer programmer for stealing its proprietary trading software. Assistant U.S. Attorney Joseph Facciponti was quoted by Bloomberg as saying of the case:

    "The bank has raised the possibility that there is a danger that somebody who knew how to use this program could use it to manipulate markets in unfair ways."

    The obvious implication was that Goldman has a program that allows it to manipulate markets in unfair ways.
    Bloomberg went on:

    "The proprietary code lets the firm do 'sophisticated, high-speed and high-volume trades on various stock and commodities markets,' prosecutors said in court papers. The trades generate 'many millions of dollars' each year."

    Those many millions of dollars are coming from ordinary investors, who are being beaten to the punch by sophisticated computer programs. As one blogger mused:

    "Why do we have a financial system? I mean, much of its activity looks an awful lot like gambling, and gambling is not exactly a constructive endeavor. In fact, many people would call gambling destructive, which is why it is generally illegal....

    "What makes Goldman Sachs et. al. so evil is that they offer vast wealth to our society's best and brightest in exchange for spending their lives being non-productive. I want our geniuses to be proving theorems and curing cancer and developing fusion reactors, not designing algorithms to flip billions of shares in microseconds."

    Gambling is an addiction, and the addicted need help. A tax on the microsecond trades of Wall Street gamblers could sober them up and return them to productive labor, and transform Wall Street from an out-of-control casino back into a place where investors pledge their capital for the development of useful products.
    "The less I needed, the better I felt." ~ Charles Bukowski.

  2. #2
    Good Enough wham bam will rock's Avatar
    Join Date
    01.30.02
    Location
    Hell and beyond
    Posts
    2,261
    Favorite VH Album

    Bark Like A Dog
    Favorite VH Song

    Act Like It Hurts
    Last Online

    06.26.17 @ 04:51 PM
    Likes
    1,264
    Liked 643 Times in 328 Posts

    Default

    Very well said, Jesus. You're exactly right.
    "Never is just reven spelled backwards." -House

    "Did I listen to pop music because I was miserable or was I miserable because I listened to pop music?" -THE Rob Gordon

  3. #3
    carpe damn diem billy007's Avatar
    Join Date
    04.19.00
    Age
    54
    Location
    On the wild card line...
    Posts
    28,673
    Favorite VH Song

    "Dance The Night Away"
    Last Online

    12.13.17 @ 01:00 PM
    Likes
    1,046
    Liked 1,346 Times in 923 Posts

    Default

    "Well the God I believe in isn't short of cash, mister"

    "The banks they're like cathedrals
    I guess casinos took their place"

    - Bono

    pretty funny, you starting this thread, JHC - go run out those money changers!

  4. #4
    Gird your loins Daisy Hill's Avatar
    Join Date
    04.17.08
    Age
    57
    Location
    Goose Poop, Ohio
    Posts
    13,033
    Favorite VH Album

    Fair Warning
    Favorite VH Song

    Panama
    Last Online

    12.13.17 @ 12:58 PM
    Likes
    1,801
    Liked 2,235 Times in 1,353 Posts

    Default

    must be the same God that Jimmy Swaggert and Tammy Faye and Jim Baker et al prayed to

    survivor of the Bowling Green Massacre 9-3-2016 BGSU 10 OSU 77

    She was warned. She was given an explanation. Nevertheless, she persisted.

  5. #5
    Atomic Punk Dave's Dreidel's Avatar
    Join Date
    01.10.05
    Age
    47
    Location
    Kate Upton's Closet
    Posts
    37,878
    Favorite VH Album

    Alex, Dave, Ed and Mike
    Favorite VH Song

    The songs with Ed on them
    Last Online

    12.13.17 @ 12:19 PM
    Likes
    3,505
    Liked 18,128 Times in 8,952 Posts

    Default

    "What makes Goldman Sachs et. al. so evil is that they offer vast wealth to our society's best and brightest in exchange for spending their lives being non-productive. I want our geniuses to be proving theorems and curing cancer and developing fusion reactors, not designing algorithms to flip billions of shares in microseconds."

    I have been making this argument for a while now.

    More and more of our top minds are going into finance because the pay is astronomically better. It is hard to blame them, but the fact that true intellectual elite are doing finance instead of engineering or medical research is a long term problem in my estimation.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

    Preferred pronouns: he/him/his

    Hurricane Halen - Let's all gingery touch our sword tips!!!

    DONATE TO THE LINKS YA CHEAP BASTARDS!!!!

  6. #6
    Atomic Punk sixstring's Avatar
    Join Date
    03.22.04
    Age
    45
    Location
    texas
    Posts
    9,852
    Favorite VH Album

    1984 / 5150
    Favorite VH Song

    the ones with ed on them.
    Last Online

    07.20.17 @ 02:42 PM
    Likes
    0
    Liked 0 Times in 0 Posts


    Donor

    Default

    PURE EVIL...






















    ...in CONCENTRATED form, they all are.

    [SIGPIC][/SIGPIC]


    "20 minutes (late to work)? Shit. Last year I woke up three weeks too late.
    My advice is to go for the alien abduction story. Look bemused, dishevelled and on the verge of tears as you recount your story of intrusive and degrading medical tests.
    Worked for me anyway. I still have colleagues asking me what it is like to fuck a green womanoid with seventeen breasts.
    Alternatively just walk in and inform everyone that alcoholism is indeed a disease and that they should be less judgemental and perhaps a little more supportive."
    - graeme on the addiction to this place.

    "something tells me that after the nuclear holocaust, there'll be twinkies, cockroaches, and a dave vs. sammy argument going on somewhere".
    - han valen, 6.11.04

    "in my best "saw" scary movie voice: "oh, yes, there will be beagles."
    - hatchetforce, 6.7.06

  7. #7
    On Fire Rare Painful Side Effect's Avatar
    Join Date
    03.12.07
    Posts
    324
    Last Online

    07.08.17 @ 10:45 AM
    Likes
    0
    Liked 0 Times in 0 Posts

    Default

    Investment Banking:

    1. Find going concern

    2. Buy with borrowed money

    3. Pay selves hundreds of millions (billions?) in management and Finder's fees

    4. Find synergies, i.e., move most jobs to China

    5. Eliminate perks for those workers left

    6. Lecture said workers' about their "greed"

    7. Sell off valuable parts of company

    8. Leave debt-addled husk to shut down/declare bankruptcy.

    If we're talking the Noah's Flood god, I think Blankfein pretty much nailed it.

 

 

Similar Threads

  1. How Goldman Sachs engineered every major market manipulation since the 1930's
    By The Rover in forum VH Fans Meeting Place (Non-Music)
    Replies: 5
    Last Post: 07.06.09, 11:30 AM
  2. Will Sammy and Mikes project go head to head with a new VH album next year?
    By Dont disturb my Paradise in forum Main VH Discussion
    Replies: 135
    Last Post: 10.13.08, 10:20 AM
  3. Well for god's sake...
    By broken9500 in forum VH Fans Meeting Place (Non-Music)
    Replies: 3
    Last Post: 01.10.08, 02:39 PM
  4. Fred Thompson, Michael Moore Go Head to Head, Sort of
    By voivod in forum VH Fans Meeting Place (Non-Music)
    Replies: 5
    Last Post: 05.16.07, 04:43 PM
  5. GOD's Diet...
    By Fabulous Shadow aka VHL in forum VH Fans Meeting Place (Non-Music)
    Replies: 5
    Last Post: 06.12.02, 10:47 AM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •