you have not worked at Merrill before and then at UBS's mortgage arms desk by any chance? Just reminded me of someone...
Asiaprop, I understand why you say Goldman Sach make good smart choice. Yes, they pay money to AIG for protection, so I agree that contract should have to pay. What I question is Goldman Sach can buy something (THEY KNOW) is bad, THEN sell for profit, THEN buy the swap to pay the money when it go bad in time. But yes, they smart because they see the BIG PICTURE before all other people. But is that capitalism free market, or fraud? I think about that so much. And to blame brown and black people make me sick.
Then the Fed must open its books for us to see. Who exactly was the recipient of those trillions of dollars in loans they won't disclose? That was taxpayer money they used as their mop. Why doesn't the taxpayer have access to that information? There is no question that money went to a financial institution(s). Which one(s)? Taxpayers have a right to know.
i dont blame brown or black people, I dont even blame white or yellow ones ;-) Let me ask you this: When you trade an option (listed or OTC) one party is gonna be paid and the other either loses the premium or is obligated to deliver. Now is this in any way a perverted way of capitalism? When one company competes against another, for example, in the corporate server or router segment, is that also a questionable way of exercising capitalism? Goldman's senior management is smarter than the rest of the pack, no question. They use their networks, connections, foresight and insight into the market in the best possible way WITHING the legal limits. The problem I see is that the American public is misled by media and politicians in believing it is shameful to be paid "obscene" amounts of money by delivering shareholder value. When you look at the stock of GS and how they have performed it is hard to argue that shareholder value has not been created. In thus I even disagree that Blankfein was not paid his dues for 2008. Some blindfolded people seem to have a huge issue with the fact that Goldman saw it coming a lot earlier than most others and that they have dumped most of their structured mortgage holdings. And the same people suddenly claim GS owes anything to the taxpayer while it is a matter of fact that they have repaid what they borrowed. They now introduce all sorts of theories and claims why GS had no right to insist on the full payments that AIG and others had to GS. They have a hard time to separate government aid (that has been repaid) from business as usual. Well, you know, those people correlate highly with the ones that for the rest of their lives are excellent at jealously peeking at others' success while they cant get their own fingers out of their fat ass and make things work for their own. But I understand, its much easier to point fingers than taking matters in ones' own hands. I never claimed GS is the white knight of Wall Street. But they have done the best job out of all brokerages and banks, no single question about it. They have sent tons of capable people into government and other organizations. The government would be staffed with only incapable monkeys would there not be seniors in companies such as GS that moved on to new ventures. Claiming they are all conspiring against the rest of the world makes some like BuyHighSellLow look as stupid as those who claim man never landed on the moon. Funny for entertainment but in the end ridiculously limited in thought and reasoning. But hey, it makes for great entertainment...it would just be great if more intellect was added to the discussion rather than the repetitive "show us the money" screams.
why dont you ask your representatives and write letters to Washington? Why blaming Goldman for that? If your government does not care to explain to you then has it not occurred to you that they actually may not give a shit about what you think?
I didn't say I blamed Goldman for that. Goldman's bonuses are simply a symptom of the illness this country is facing. If you want to get to the root of the cause you go directly to the Fed. The Fed and Goldman are conjoined twins. Taxpayers have a right to know who received that money. Was it Goldman? Emphasis on the "?"
Hey idiot, I have enough money in my coffer to last me throughout this miserable recession and some more. But if my neighbor, as well as his neighbor, were to be dragged down by some fucking greedy morons on Wall Street, why should I not be pissed when the morons in question not only are bailed out but receive fat bonuses to boot? That's a fact, you piece of shit.
From your previous posts, I gather you're not even a resident of U.S.A., nor are you a citizen. If not, why dontcha just shut the fuck up for once?! We don't want any foreign intervention in our own domestic affair, now do we?
you made very good point what they do is legal but immoral and doesn't benefit Americans and in many cases just make things worse as they don't bring any wealth into the system either such type of businesses should be made illegal. their business must be restricted, heavily regulated and broken into small parts When Goldman stop their existence the world will become much better place to live for everybody
asiaprop, if Goldman sell something with investment grade (now 401k and pension can buy because they (THINK) the risk is not high) BUT Goldman really know the originator have NO REGULATION,(but who care the credit rating gave the good rating) is that ok to destroy portfolio of the 401k person?