. January 21, 2010 SouthAmerica: I am sure that Al Capone (Lloyd C. Blankfein) and his Mafia Family Network will find new scams to make tons of money⦠When Americans think about organized crime the first names that come to mind are the five major Italian-American Mafia crime families which have dominated organized crime in New York City since the 1930s such as: 1) Lucchese 2) Bonanno 3) Gambino 4) Colombo 5) Genovese Note: But the name of the 6th Mafia Family is never mentioned with the name of their peers, even tough that family is the most successful, sophisticated, polished, influential and it has a long history of deep inside connections with the top leaders of the U.S. government: âThe Goldman Sacks Familyâ .
it was not just a government loan. It was trillions of dollars. The feds are still buying over a trillion dollars of low interest mortgages. This little interest rate game has put some stabliity in the lower end of the market. But how long can it last how much inflation will it cause - why should we be protecting the banks from further loses. Those banks should have been wiped out - so they never gave away such cheap mortgages again. The over heated housing sector has misallocated resources. What about the bullshit accounting rules. Allow banks to mark to a made up long term market instead of admitting they were insolvent. How many trillions will that cause in misallocated resources. What about the fed buying back trillions of dollars in overpriced assets. What has that done to the value of our dollar. We have spent trillions bailing out the banks.
Hey Angry Cat; GS has not paid all of the money back!!! They want those bonuses so no one is focusing on the fact that they havent paid it back. they paid half and they dont seem in any hurry to pay the the other 20 back. is it 45 billion they took? Man alive a company that some think never needed much help from anyone received a heaping from warren buffett and the federal government. Now gloating about how much money they made. That stock is tanking because they arent making moeny and they have all the inside information! they are not making money because technically they still owe a truckload!
Take away the inside information and the front-running and the only revenue they generate is from doing things like IPO's and advisory services. They would have to deal with the same trading challenges that you and I have to deal with. The folks at GS are pretty smart. There's no denying that but smarts does not beat the market as consistently as they do. It's statistically impossible to win as frequently as they do without inside information. The laws of risk taking guarantee they would lose more frequently. Give me their inside information and 0% loans and I'll be a billionaire too.
you could say the same about the consumer, the government, FNM/FRE, the mortgagor etc. look into a mirror jem - you could do better than this BS.
I'm not trying to defend GS but they have paid back the TARP funds. Not sure where you get your 45 billion dollar number from as they received only 10 billion. Now, if you are including the 10 billion AIG received to pay Goldman Sachs, now that is a different story. Interesting point, Tarp gives GS 10 billion loan...........Tarp gives AIG 10 billion which it gives ("owed") to GS.......GS repays 10 billion tarp loan. GS finishes +10 billion which it owes noone.......nice one
i wonder aloud; will they not be able to hold US treasuries on their own account? LOL or will US treasuries be conveniently excluded? that would basically make a bank a government agent (for a small fee of course) transferring the deposit (earning 0%) to government which would pay say 0.1% on national debt, i.e. basically nationalization of all savers' monies. what else is coming?
Correct me if I'm wrong, but does this really affect GS? From what I've read, GS doesn't accept federally insured deposits. They paid off their TARP bailout loan last year and no longer need a federal charter. If I'm right, this gives GS a huge edge and makes the legislation look very targeted, making this the most corrupt administration ever. If I'm wrong, this is still the most corrupt administration ever.