Goldman Sachs Record 1st Half of Year

[runningman]

Go figure

http://www.guardian.co.uk/business/2009/jun/21/goldman-sachs-bonus-payments

[Miroslav]

Re: Goldman Sachs Record 1st Half of Year

It's probably not good right now, but it's not surprising in the sense that Goldman Sachs has been one of the biggest winners of the new order among investment banks - they got out of subprime with uncanny timing and didn't sustain near the losses that many of their competitors did. And now that some of their key competitors are gone, they're in an even more dominant position.

[runningman]

Re: Goldman Sachs Record 1st Half of Year

now they are even bigger "to big to fail"

They should be broken up to eliminate that possibility.

[Miroslav]

Re: Goldman Sachs Record 1st Half of Year

now they are even bigger "to big to fail"

They should be broken up to eliminate that possibility.

I'd agree there... The fundamental issues that lead to these kinds of periodic catastrophes in the financial system have not yet been addressed.

[Lorn]

Re: Goldman Sachs Record 1st Half of Year

Change we can believe in - yep, we'll steal even more than we did under The Bush Administration!

[|Thrax|]

Re: Goldman Sachs Record 1st Half of Year

figures.. a guardian article.

http://www.nydailynews.com/money/2009/06/22/2009-06-22_financial_firm_goldman_sachs_to_pay_out_biggest_bonuses_in_its_140year_history.html

"Goldman-Sachs denies reports it will pay out huge bonuses; Lloyd Blankfein: pay reflects performance"

Why should they be broken up? Sounds like you want some kind of takeover.

[runningman]

Re: Goldman Sachs Record 1st Half of Year

they eliminated their competition so now they have a bigger market share. That is why they are going to make more money. They are bigger now then they were a year ago. Which makes them a bigger risk because they can't fail.

[|Thrax|]

Re: Goldman Sachs Record 1st Half of Year

they eliminated their competition, or their competition eliminated themselves?

[runningman]

Re: Goldman Sachs Record 1st Half of Year

does it really matter? They are bigger now then before. To big to fail is the problem. They are a greater risk now.

[ddr]

Re: Goldman Sachs Record 1st Half of Year

does it really matter? They are bigger now then before. To big to fail is the problem. They are a greater risk now.

you cant have it both ways runningman. if you are FOR free markets (like you have been in the past), then the failure/bankruptcy of the weak makes the strong stronger, isnt that a good thing?

[runningman]

Re: Goldman Sachs Record 1st Half of Year

You are comparing apples and oranges. The banks have a blank check. They can fuck up and the gov't will always reward them for their fuck ups. Free market capitalism works until you have a monopoly (To big to fail). Then corporation have to much power through corruption. The banks can't have it both ways.

[floridaorange]

Re: Goldman Sachs Record 1st Half of Year

this was a great watch in case anyone has not seen "breaking the bank" on frontline yet:

http://www.pbs.org/wgbh/pages/frontline/breakingthebank/view/

[superdave]

Re: Goldman Sachs Record 1st Half of Year

This is one of the best articles and journalism investigation I've read in a long time. Read how Goldman Sachs corruption and cronyism.

http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine

[runningman]

Re: Goldman Sachs Record 1st Half of Year

Hey can one of the mods merge this thread with the WTF? Thread. I messed up and should have put it in here.