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New York, 4:49 AM
Thu Nov 12
59 posts in the last 24 hours
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08/21/09
If you're going to be a pure capitalist and pay yourself for being a master of the universe, then just do it and be proud of it. I don't like it but if I really care I'll talk to my politicians about it.
The fake hand wringing over it, however, is inexcusable because it attempts to cover up who they really are.
08/21/09
08/21/09
08/21/09
/golf clap
08/21/09
08/21/09
Unless we can all agree that historical implications are out. In which case, that redneck Dobbs and that hysterical bitch Betsy McCaughey need to get the fuck off my lawn and shut up under a sheet in a kitchen somewhere.
08/21/09
08/21/09
But you are correct; there's not a spin or a filter or any other tool that will make Goldman Sachs look like "victims."
08/21/09
08/21/09
08/21/09
08/21/09
Upper-level Goldman Sachs employees most likely include non-Jews, and Main Street wants their heads, too.
08/21/09
The problem isn't the money they paid back. The problem is that everyone ASSUMES Goldman will get bailed out if they stumble, so they have an implicit government backing (like Freddie or Fannie did). So they are quasi-governmental.
I say cap the cash bonuses at 2x base. Sock the rest in restricted stock over a loooong time.
I've got a lot of friends at Goldman, and worked there at one time myself. There are many smart people, but they ain't THAT smart - nor are they smarter than everyone else. It was more the case that Merrill, Lehman, and Bear had no internal controls and were truly run by idiots like O'Neal, Fuld, and Cayne, than it is the case that Goldman is run by a bunch of classical scholars.
08/21/09
The implicit taxpayer backing never goes away now, though. It's part of the regulatory culture of America. The risks of financial collapse are seen as too much of a social burden, so they're just GSE's now. If America can borrow and the banks go bad, they'll be saved - that is, quite simply, the new normal.
I hate it too. Largely because I never got one of those truly ridic payouts before I was established enough, and now it looks like they're going the way of the dodo. What can I say? I'm not ashamed! I'm a mercenary like anyone else in America with skills and I like having money.
08/21/09
08/21/09
All your dollar are belong to us!!!1
08/21/09
08/21/09
Hey, I've been unemployed for 8 months and live at my little brother's house. Tell me about it.
07/15/09
07/15/09
The last page is an excellent explanation why cap and trade is a bad idea. It brought up issues besides how bad this will be for consumers and industry.
07/15/09
07/15/09