Goldman Sachs = Neo-Slavery = Government

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Just about everyone has heard of Goldman Sachs. Few, until recently, had heard of Mike Morgan, a Florida-based investment adviser, just recovered from heart surgery. Over the past few months, Morgan has become one of those shooting stars of cyberspace. He set up a blog, goldmansachs666.com , whose posts have included "Does Goldman Sachs run the world?" and "If Goldman Sachs robbed your house, what would you do?".

Aggrieved at being traduced under the devil's sign, the American investment bank ordered Morgan to take down his site. He refused. A legal spat ensued.

Now, the site appears with the following disclaimer: "This website has not been approved by Goldman Sachs. This website was designed to provide information about Goldman Sachs to demonstrate [in Mr Morgan's view] how destructive this company is to our lives and the hopes and dreams of our children."

Few companies generate such vitriol. But sometimes you wonder if Goldman doesn't actually want to be hated. Just look at this week's humdinger. Fresh from repaying $10 billion (£6 billion) of rescue funding from the American taxpayer, and amid the biggest economic crisis since the 1930s, Goldman turned in record second-quarter earnings of $3.44 billion a 65 per cent rise year-on-year.

That's only half of it, though. The upshot of these monster earnings is that Goldman's 29,400 staff are set to rake it in as never before. As if the credit crunch had never happened, the Goldmanites are on course this year for average pay, bonus and benefit packages of an eye-watering $770,000 per head. That's almost twice what President Obama earns

Top of the list is its former chief executive, Henry Paulson, the man who was George Bush's last Treasury Secretary and the architect of the Wall Street bank bail-out. Paulson was only following form. Another Goldmanite, Robert Rubin, was Treasury Secretary under Bill Clinton.

Paulson, it is widely known, could not stand Dick Fuld, the former boss of Lehman Brothers. So, the conspiracy theory goes, Paulson was happy to let Lehman go to the wall the one major bank that America declined to rescue. Even so, it stretches it a lot to say that allowing Lehman to collapse was all part of a grand design to help Goldman.

As one Wall Street banker puts it: "Lehman almost brought down the entire financial system, forcing Goldman to go cap in hand to the Treasury for $10 billion of Tarp funds" the bail-out under the US government's Troubled Assets Relief Programme. "If Paulson had been trying to help his old bank, he would have let Bear go rather than Lehman."

Two controversies feed the conspiracy theories. First, after Lehman fell, Goldman and the remaining US investment banks found it impossible to finance their businesses. So, the US government allowed chief executive Lloyd Blankfein to turn Goldman into a bank holding company, regulated by the US Federal Reserve a move also followed by Morgan Stanley. This enabled Goldman, which was now constituted as a commercial bank, to gain access to fresh and cheap funding from the Fed.

http://www.telegraph.co.uk/finance/5837373/Just-how-did-Goldman-Sachs-manage-...

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[adamkow3166]

Fuc&^ Jews.

[olusphone]

so basically these bankers are trying to take over and reintroduce a feudal system by stealth....I predict a riot!!!!!!!!

[TWSceptic]

@sharo8760 50% is not enough tax for you, perhaps we should just send all our money to the government. I don't care about anyone's religious views, and neither should you.

[sharo8760]

@TWSceptic I'd say not enough tax. Of course it's too much spending and borrowing money, I know that, but the earlier comment was mainly written as a response to the religious discrimination @lied2bygov. Which you, clearly, didn't understand.

[TWSceptic]

@sharo8760 Oh right, conservatives are the problem huh. That's why debt and unemployment was low during early US economy. This started to go up when government got more and more involved with free market and screwed things up with keynesian nonsense. Clearly you don't understand the reasons for the decline of the US economy. The reasons are: too much borrowing by government, production moving to Asia, too much consumption, too little saving, too much gov. spending, too much regulation & tax.

[rambo753]

It could only be a jewish bank

[sharo8760]

@lied2bygov The reason that Americans are poor and jobless is that the USA is run by rich right wing conservatives from old rich families and they want to stay rich. Religion doesn't have much to do with this and even if it does you'll probably find more Christian bad guys in the Congress than Jewish.

[humouriseverything]

Whatever Glenn Beck tells you Goldman Sachs wants you to know. The man is as fake as Pamela Anderson's tits! Oh and by the way, Jewish people have fuckall to do with this religion doesn't come into it. Even the people at the top of the Catholic church pray to the almighty dollar!

[GovernmentSachs]

@olusphone trying?

[cranehelp99]

Bye bye america ,,, (waving) ,,,,