I'm not outraged. I really just want a Wall Street banker's bonus.
Wasn't Goldman Sachs strong-armed by the government to take TARP money in the first place? Haven't they already paid it back with interest? As far as the bonuses go, if I were a shoe salesman and exceeded my quotas every month, shouldn't I gotten my bonuses even if the company itself is bleeding cash?
@ChillbearLatrigue: Technically yes, Goldman was "forced" to take TARP money, but that was very convenient for them. Had they not accepted it, they would have been in a very bad spot and would not have had the great earnings that they just reported. So, the government taking a hard line allowed them to act as if they didn't want it, when all along they knew they were gonna get it.
Matt Taibbi's dismantling of the GS mythos is worth a read over at True/Slant. But yeah, GS converts itself to a holding company so it can get free money even though no other financial firm was able to do so? Why, it's almost like your former boss would have to be Treasury Secretary for something so brazen to happen! So they get a big pile o' free money and they.... they turn a profit on it?
Forgive me for not exactly marveling at the pluck of this little mom 'n' pop financial giant.
Did they pay back the money? Yes, after they secured 20b for AIG so AIG could then give GS 13b, as resipsaloquacious says. This doesn't mean that GS didn't siphon billions of dollars directly off the public.
It's time to sell Zac Efron. His last movie did not perform well and the Tweens are beginning to look elsewhere. Hold on to the Jonas Brothers however up until the point where the oldest brother gets married. Once he is unavailable the fantasy will disappear for girls and they will look elsewhere. Robert Pattison continues to remain strong despite the bump in the road from his last movie. It's a good thing teen girls don't know who Salvador Dali is.
@BullfightsOnAcid: Demand for teenage pregnancy is up this quarter; Pattinson's a good buy. Also, short sell Efron, then buy him back big time: when he's old enough to party with Lindsay Lohan, he'll be a cash cow.
This story has been at top of the most read list on Bloomberg all morning. Understandable considering it was full of such insightful analysis. Who knew that kids didn't read newspapers & print media? Thank goodness that investment bankers now know not to invest in those companies.
Also, I think I found my 14yr old cousin her next summer job.
The kid's report is very nice and all but it's basically full of common sense shit like teens loving cell phones, and Wiis, and big TVs, and not wanting to pay for music,
also Whistle Tips. The kids love the Whistle Tips.
Saw this on the cover of FT today. My favorite part- Kids do not like Twitter. Why? Because no one is reading their posts so posting is pointless, idiot.
@OhCandida!: Candy, I applaud how you were being honest with yourself regarding your sexual orientation at such a tender age. Perhaps not coincidentally, you have great taste in fruits.
Financial advisory positions are not what you think they are. If you're a green FA, you're in sales. Your job is to sell financial products. Knowledge of finance is not necessarily a prerequisite unless you don't sound convincing when you regurgitate the pitchbook back to your clients.
It's sort of like selling televisions at Best Buy or something, when you dutifully explain that the more expensive one is better because of the pixels. It takes a while before FA's have enough clients and cachet to make financial decisions beyond hitting sales targets and recommending prefabricated portfolio mixes.
07/31/09
07/31/09
Wasn't Goldman Sachs strong-armed by the government to take TARP money in the first place? Haven't they already paid it back with interest? As far as the bonuses go, if I were a shoe salesman and exceeded my quotas every month, shouldn't I gotten my bonuses even if the company itself is bleeding cash?
07/31/09
No, no. Goldman strong armed the Govt to pay AIG so AIG could funnel 13 bb directly to Goldman.
07/31/09
07/31/09
Matt Taibbi's dismantling of the GS mythos is worth a read over at True/Slant. But yeah, GS converts itself to a holding company so it can get free money even though no other financial firm was able to do so? Why, it's almost like your former boss would have to be Treasury Secretary for something so brazen to happen! So they get a big pile o' free money and they.... they turn a profit on it?
Forgive me for not exactly marveling at the pluck of this little mom 'n' pop financial giant.
Did they pay back the money? Yes, after they secured 20b for AIG so AIG could then give GS 13b, as resipsaloquacious says. This doesn't mean that GS didn't siphon billions of dollars directly off the public.
07/31/09
07/31/09
07/31/09
Eh, that's a lot of walking and a lot of forking. I'm off to McDonald's.
07/31/09
07/31/09
07/31/09
07/13/09
07/13/09
07/13/09
07/13/09
Would you be interested in a slightly used Portia de Rossi as a trade-in?
07/13/09
07/13/09
Also, I think I found my 14yr old cousin her next summer job.
07/13/09
@marin79: Everyone will be to busy investing in things meant, ya know, for kids
07/13/09
also Whistle Tips. The kids love the Whistle Tips.
Whoo Whoo!
07/13/09
07/13/09
07/13/09
Where's ma check?
07/13/09
05/28/09
Besides Mohammed Ali on crack could probably do as well as our current crop of financial titans. That's the magic of the marketplace.
05/28/09
05/28/09
It's sort of like selling televisions at Best Buy or something, when you dutifully explain that the more expensive one is better because of the pixels. It takes a while before FA's have enough clients and cachet to make financial decisions beyond hitting sales targets and recommending prefabricated portfolio mixes.
05/28/09