Except for the fact that Goldman Sachs might not even exist today without the aid of others. I'd like to see his interview if Goldman Sachs was given no aid and AIG was allowed to fail.
That is an interesting viewpoint, however you left out one thing. How much misery and pain is produced by the gathering of that wealth? If you generate pain for others in the process of acquiring your wealth, then donating it to charitable causes is not alleviating misery, merely redistributing it. And you take a nice, fat cut for yourself as middleman in the transfer. Such "altruism" is a deception and cannot be equated with the ideals behind true charity.
YES! And that "pain for others" is for example KNOWING you buy JUNK morgage with the fake credit rating, sell that to instituitions who is not seeing the big picture yet. p.s. And then create the ABX.HE around 2006. Now they sell JUNK for investment grade, AND create the index to watch when the market find out the lie. Clever.
All the replies commenting on mine, perhaps could be summarized thus: GS does not create anything useful per se. They are the ultimate middle man. It is not like say, MSFT that actually creates wealth. What you are all arguing against is banks altogether, I think. There is a passage in the bible about neither a lender or a borrower be. To lend at an interest rate is sinful. So, how do you all propose that modern economies work without banks? Are banks not necessary in a capitalist economy? Is banking in direct contradiction of what is in the bible? It goes against modern economic theory: http://chestofbooks.com/finance/banking/Elementary-Banking/Why-Banks-Are-Necessary.html Even institutions at the core of the banking system existance is being debated: http://www.msnbc.msn.com/id/33859924/ns/business-the_new_york_times// Finally, remember, the United States has a history against banking: http://wiki.answers.com/Q/Why_did_James_Madison_oppose_the_bank_of_the_US http://conservapedia.com/James_Madison
THE LLOYDâs Prayer Our Chairman, Who Art At Goldman, Blankfein Be Thy Name. The Rallyâs Come. Godâs Work Be Done On Earth As Thereâs No Fear Of Correction. Give Us This Day Our Daily Gains, And Bankrupt Our Competitors As You Taught Lehman and Bear Their Lessons. And Bring Us Not Under Indictment. For Thine Is The Treasury, The House And The Senate Forever and Ever. Goldman.