Very good option to fight randomness and insecurity. Get in, or create one, or die trying, or die waiting for someone else to take care of you. What the f*ck just get it over now, you are screwed no matter what.
America is not a free market. If it were the Fed and Congress would have let bad business go bust. Free markets have never been give a chance to work. Too much government interference from both parties. Our political leaders are just at fault as the big banks that got bailed out. Goldman converted to a bank holding company overnight, just so they could get TARP funds and free money at the discount window. Goldman is the welfare queen of wall street.
Technically, I would have to agree with you. Goldies, strictly speaking, operates within the confines of law, as it exists now, which means that it's really all the government's fault. Since the govt, theoretically, is elected by the US taxpayer, the latter gets exactly what he/she paid for. However, you're completely wrong about GS not being 'private during the good times and socialist during the bad times'. Of course, they are. The govt backstopped them and the fact the backstop didn't get called is completely irrelevant. Otherwise, what do those $28bn of FDIC-guaranteed bonds that Goldies issued between Nov and Apr represent? Again it's the govt's fault that they didn't extract their proper 'pound of flesh' as payment for the insurance and the banks' use of the 'lender of last resort' facilities.
Or alternatively muster the force of public opinion to make sure the system changes and Goldies et al fall off their high perch. I think I'll join the crowd and try to do that instead.
It's called oil contango and all the other IBs (well now regular banks since they had to be saved) do this as well as several NYC boutiques. It's not exactly complicated, just takes capital to secure tankers. They were bankrupt back in fall 2008 year ago but got saved by taxpayer money thanks to Henry Paulson. How exactly is that doing almost everything right? Yeah, I do envy that, where is my TARP money? Where is my discount window? Where is the Fed & US Treasury backing my liabilities? Why exactly are my taxes being signed away to save parasites like Goldman and then allow them to pay even more record bonuses? I could tear apart the rest of your post, but I just don't have the time. Continue being in awe of Goldman while they rob the country. They are utter scumbags whose advantage is cronyism. If that is what you inspire to be, well good luck to you. As for Goldman having the brightest people, not at all true. Try doing business with them. They do have the biggest scumbags who try at any corner to try to screw you, but the brightest, lol, I think those are only at the top levels. JP Morgan does the same, so does Morgan Stanley (John Mack anyone?). But they are a little quieter about it. Goldman is just out of control.
I admire your belief in organized public opinion. I wish I had one. Are you afraid that the public can come for you one day? Interesting dilemma. What is better? 1. Society where there are no public rules what so ever. You need to defend yourself and no one will help you. 2. Society where the public takes complete care of you but it can come for you one day and you can't defend yourself against that. I know this is too extreme. Just bored. I know the answer is in the middle, far far from these extreme edges. Good luck with bringing GS down. Count me in. Letâs get the f*ckers.
For as allegedly bright as Goldman is, they sure can't seem to contain the news explosion over their seemingly select good fortune and intimate government affiliations. That doesn't seem to be such a bright achievement (or, lack thereof, to be more precise).
Arrogance. Just look at how most of the masses react. They actually think it's ok. Some of even praise them for it, like asiaprop.
a) London is more "old boy club" style than any other city in the world, not sure if you care so much what you do in London b) you refer to GS as a zombie company? Are you kidding me? Or are you suddenly jumping topics?