Mixed Politics: Outrage About Goldman Sachs
We’ve all heard the recent outrage at Goldman Sachs for giving their employees a total of $16.2 billion in salaries and bonuses. President Barack Obama is mortified that the company would give such a large sum of bonuses after the government bailed them out last year. For any domainers who are also outraged about the situation, I have 1 question for you. Do you understand business?
What’s the point of business? Other than with non-profit companies, in almost all cases, it’s to make money. And that’s exactly what Goldman Sachs did, they took the money the government gave with them, made some smart choices, and earned a big sum of money in return. Not only did Goldman Sachs pay back the government’s loan in full with interest, but they donated $500 million to charities. So why are people mad?
People are angry because they think that Goldman Sachs should have to give more money to the government as a thank you for your generosity. Let’s say I went into a store to buy a pack of gum for $5. Am I going to give the store clerk $10 and tell them to keep the change? Probably not. Goldman Sachs paid their dues, and gave the government their money back plus interest in a timely manner.
How can you be outraged that Goldman Sachs isn’t giving more to the government? I’d love to hear your opinions on this. Make sure to submit your comments below.
There would not be a Goldman Sachs or a banking system if it was not for the bail out of the big banks across the world – Then they thrive this year in a false economy created by the pumping of Tax dollars into the economy that enables Goldman Sachs to buy money at historic low rates; making their profits easier to generate and artificially large. Some recognition of that, my explain why many tax payers are so upset; as Goldman Sachs prosper many on main street lost their jobs and houses in a recession they did not cause.
Goldman Sachs is a leech on the US economy. They have implemented legislation through government that screw the American people. The latest and biggest fraud is Cap and Trade. Brought to reality using the EPA’s CO2 as a pollutant ruling. Cap and trade, the biggest tax hike in history, effectively a tax on the air you breathe. Every activity that you will ever make will incur a carbon tax cost and where will it go. 65% to the government and 35% as a fee to the likes of Goldman Sachs.
How much money did Goldman Sachs make betting against the US economy?
Goldman Sachs is bigger and more powerful than the government.
Separating wealth from society.
Also where do you draw the line at profit. Last year there was 4 or 5 derivative firms where individuals landed billion dollar salaries betting against the US economy.
One guy earned $3,700,000,000.
$1.85m per hour.
This is real money that has come out of the pockets of every American. They can only do that where they have the system set up and legislation in place to fleece the economy. There is a massive separation of wealth going on between Wall street and main street.
http://www.nytimes.com/2008/04/16/business/16wall.html?_r=1
The top 1% of the population own 42% of the wealth and that percentage is growing rapidly.
Goldman Sachs is a leech on the US economy. They have implemented legislation through government that screw the American people.