Goldman Sach Will Throw Us A Bone By Increasing Charitable Contributions
Goldman Sachs continues to get an inaccurate read on public opinion. What they don't seem to understand is that people who are now in their second year of unemployment won't forget that the same people who caused this mess are making exorbitant sums as a reward for having done so.
And standing in line at a food pantry to which Goldman Sachs has donated the food only rubs salt in that wound:
As it prepares to pay out big bonuses to employees, Goldman Sachs is considering expanding a program that would require executives and top managers to give a certain percentage of their earnings to charity.
The move would be the latest in a series of initiatives by Goldman to soften criticism over the size of its bonuses, which are expected to be among the largest on Wall Street, bringing average pay to about $595,000 for each employee — with far higher amounts for top performers.
Goldman set aside $16.7 billion for compensation in the first nine months of 2009, and in good years, the firm dedicates about three-quarters of its compensation budget to year-end bonuses. The firm is expected to report later this month what could be record profit of about $12 billion for 2009, according to analysts’ estimates, compared with $11.7 billion in 2007. Its final compensation pool and executive bonuses will be announced then.
The firm said last month that its 30 most senior executives would be paid bonuses all in stock, but the bank placed no limit on how large those bonuses might be.
While the details of the latest charity initiative are still under discussion, the firm’s executives have been looking at expanding their current charitable requirements for months and trying to understand whether such gestures would damp public anger over pay, according to a person familiar with the matter who did not want to be identified because of the delicacy of the pay issue.
Goldman Sachs is considering expanding a program that would require executives and top managers to give a certain percentage of their earnings to charity.
On which they'll turn right around and take a tax deduction. In other words, Uncle Sam will give them their money back. Fuck these guys and their charity! Send a copy of this story to the Dept of How Stupid Do They Think We Are.
If you have selfish, ignorant citizens, you're gonna get selfish, ignorant leaders.
George Carlin
I want the rich to shower the poor little people with their charity they got from the little peoples tax dollars.
Goodnight, Frau Blücher
Scraps from the King's table—how thoughtful. Of course, after the Banksters cratered the economy, a lot more folks need charity.
They know the answer is very very stupid. All they have to do is buy the politician of their choice. The people don't support campaign finance reform and without that, the game is over. As long as corporations are allowed to make campaign contributions at any level or magnitude, they will buy the politicians and the people are screwed.
When mitch mcconell and company got the supremes to say money equals free speach we were all fucked.
I can't believe the people of Ky are so stupid as to put this guy back again and again. All he ever does is line his pockets. But that is what being a conservative is all about.
It's fuck you I got mine!
The the laughter when they think of how stupid the people are to vote for such a scumbag.
The republican voter says thank you sir can I have another?
Ads long as you don't let someone who doesn't deserve it like me get it. God bless republican america! were the faux christian, faux american party!!
This isn't theft. It's money laundering. Money laundering is a much more complex act that simple theft. It's the corporate shell game. They got billions for criminally irresponsible behavior, spent it on legitimate investments, then profited on those investments without having to pay a share of the profits back to thier investors (ie the fed gov't). Wealth redistrobution from the poor to the rich is a good gig if you can get in on it (and are rich to start with).
YES!! Geitner and Paulson screwed the US taxpayer, and YES they gave a tax free, interest free dispersement of BILLIONS of OUR DOLLARS to these crooks. But hey....THERE WERE NO STRINGS ATTACHED!!
Sorry folks...we can get damned pissed...but they got the money, and we got the screw! We can call for their heads on a platter...but Goldman Sachs WINS....we lose. F*CK US!
put their heads on a platter but better then that we could riot on their street.
http://www.1st-art-gallery.com/thumbnail/1504...
Diabolus est Deus Inversus
if there's no crime. I say that the "no strings" sweetheart deal that Paulson, Bernanke and Geithner gave GS, AIG and all the others was fraud and extortion. "Please, please, don't burn our restaurant down, and we'll give you all this money." Just substitute the word "economy" for "restaurant" and you get the idea. Extortion, blackmail, racketeering, whatever you want to call it.
These guys are just crooks with better suits.
so keep voting for those Republicans. "I can see Russia from my house"
That "charity" should be the IRS.
And that "certain percentage" should be 50% of all bonuses over $40K and 50% of all pay over $250K.
Just like the British have required of their bailed out banks.
Democracy is too important to be entrusted to politicians.
Rise Up!
Protest!
Really people we need to tear down wall street. Take your money out we have to fight back if we have to take the law into our own hands.
Pretty evident our elected reps don't give a shit about us. It is time we don't give a shit about them.
Well doooh...
Thank what they're used for...
Diabolus est Deus Inversus
"...it depends on how you feel about stealing." No kidding.
From Goldman Sachs' pov, they just have a little PR problem. Ha!
I have deep reservations about using violence to problem solve, but as of now I'm officially ready to go out to the garage and take down my pitchfork. Just shove a torch in my hand, and I'm ready to rock.
Get these guys!
in 2008, Goldman Sachs paid an effective tax rate of just one percent. I'm not making that up one percent! While their CEO Lloyd Blankfein pulled down over $40 million.
From the Telegraph UK:
America Slides Deeper Into Depression as Wall Street Revels
Democracy is too important to be entrusted to politicians.
Rise Up!
Protest!
http://www.youtube.com/watch_popup?v=PiTSyZbIjAg
Diabolus est Deus Inversus
Meanwhile, local and regional banks are choking on real estate already in default that they are afraid to foreclose on and have been keeping off the market through 2009 in order to not send the price of houses down further and put even more households "under water" for houses worth much less than the face value of their mortgage.
was Obama's biggest financial sector contributor . . figure it out for yourself.
Each and everyone of them. People are losing their jobs, homes and savings and these assholes are living it up with OUR tax money? I wish nothing but the worst for these greedy bastards.
They should be in prison. Or the hospital...
NOBODY 2012
in ships and vaporize Goldman Sachs headquarters with their rays. I would applaud, to be honest.
Bravo well done!!!!!
"Goldman set aside $16.7 billion for compensation in the first nine months of 2009, and in good years, the firm dedicates about three-quarters of its compensation budget to year-end bonuses. The firm is expected to report later this month what could be record profit of about $12 billion for 2009"
So I'm wondering why there isn't a shareholder revolt over at g-s.
Pay out only 4billion in bonuses (which would still make all these clowns rich by any normal standard) and it would mean 8 billion more for the shareholders instead of these clowns paying themselves more than the profit for the yr.
Well, clearly if you took away their 8 figure bonuses they'd have to quit - and who would be willing to take their places for a mere 7 figure bonus? The company would fail!
are usually easily recognizable. Greed and stupidity are their leading traits.
you forgot their inability to spell
Reality check: They were loaned $10 billion and fully paid back the US treasury in June 2009, plus 23% annualized interest as agreed. This doesn't take away from the realities of their money-laundering scheme however, or their sweetheart deal -- they only paid 1.3 billion in interest! Media distortion yet again.
I thought the payback turned out not to be completely real--that it was based on a big tax deduction that kind of canceled out the repay.
I know it's uncharitable--pardon the pun--on my part to wish these bastards were dead.
until they are forced to flee the country in their private jets in the dead of night by mobs of pitchfork-wielding victims. We let this happen, it's our responsibility to fix it. Nobody is gonna do it for us, especially not anyone who got rich from this neo-capitalism, this digital pickpocketing we ironically call our economy. I have no real problem with traditional capitalism; it's this form of government protected/sponsored amoral profit-by-deception that makes me want to totally abstain from this 'society'.
1st show was an ass kicker.
Spin killer to both sides of the aisle.
Exactly! Plus they will give some execs high paying jobs to take care of charitable contributions. It never ends.
During an argument with a GS exec -- one of dozens, spanning many years -- I explained that my disgust with his class of people was due to the glib way they wipe out entire sectors of US society for the purpose of enriching themselves. He responded (and I quote): "I don't give a shit what happens to them! Who the hell do they think they are!"
These guys are not really so talented or intelligent, and voters who bought into their nonsense deserve what's coming. All those economics degrees -- half of my university class were "business majors" and "Reagan Youth" -- are certificates of stupidity. Economics is religion dressed up in cute math. Their models do not work.
Thus did a handful of rapacious citizens come to control all that was worth controlling in America. Thus was the savage and stupid and entirely inappropriate and unnecessary and humorless American class system created. Honest, industrious, peaceful citizens were classed as bloodsuckers, if they asked to be paid a living wage. And they saw that praise was reserved henceforth for those who devised means of getting paid enormously for committing crimes against which no laws had been passed. Thus the American dream turned belly up, turned green, bobbed to the scummy surface of cupidity unlimited, filled with gas, went bang in the noonday sun.
God Bless You, Mr. Rosewater (1965)
Let's see how far to the right they go before they fall off of the edge of this flat world.
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