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Goldman Sachs (GS) Leads The Recovery With Some "God's Work"
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Posted on 11/09/09 at 11:02am by Ed Liston
Chairman and CEO of Goldman Sachs, Lloyd Blankfein avers that people are mad with bankers due to the economic downturn, but still believes that he is ‘doing God’s work’.
Goldman Sachs had a bad quarter last year and had to borrow $10 billion from the federal Troubled Asset Relief program, due to over lending. Blankfein, believes that his company pumps up prime companies by making available capital. Having earned a record $68 million in 2007, in addition to $500 million in stock, he feels that compensation at firms like Goldman Sachs, along with individual ambition should not be capped.
The bank has paid back its bailout money and its employee bonuses are not capped. Blankfein asserts that at Goldman Sachs, pay and performance are very well correlated. It has not been a bank that pays without demanding performance. Blankfein feels that the $3.4 billion dollar second quarter profit of Goldman Sachs is a lead indicator of better days for the bank, the economy and everyone. However, shadow chancellor, Vince Cable says that firms like Goldman Sachs have a huge hold over the financial system, which is not healthy.
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Bogus, how does the rich
by JoJo on 11/09/09 4:30pm
Bogus, how does the rich making billions help out "... the bank, the economy and everyone"
Another bankster covering up the biggest Ponzi scheme in the history of mankind. See the picture of Blankfein. You're looking at one of the most greedy and disgustingly weak and pathetic characters on the planet. GS' market manipulation knows no bounds. They are marching main street America to the guillotines. "No cap?" No, your heart won't be content no matter how much money you make. You will burn for your sins and your ancestors will be cursed because of your greed and ways. Where your money is there your heart will be also. You're on the losing side.
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