Departing Goldman banker slams 'rip-off' culture

[tailfins]

http://www.reuters.com/article/2012/03/14/us-goldman-smith-idUSBRE82D0RV20120314



It was the latest blow for the storied investment bank, which has long supplied senators and cabinet secretaries to Washington

It should say, "It was the latest blow for the storied investment bank, which has long supplied DEMOCRAT senators and DEMOCRAT cabinet secretaries to Washington"

[revelarts]

http://www.reuters.com/article/2012/03/14/us-goldman-smith-idUSBRE82D0RV20120314




It should say, "It was the latest blow for the storied investment bank, which has long supplied DEMOCRAT senators and DEMOCRAT cabinet secretaries to Washington"

Oh come on, Republicans as well., GSachs Henry Paulson, Bush's Treasury sec. being the 1st to come to mindbut far from alone.

Obamas invested with them though.

But Hey, they haven't been prosecuted for it it so it must be legal, Right? At least I've been told that before.

[Dilloduck]

It's like whipping someone's ass in monopoly. You just don't play with dice.
Play the stock market or it plays you. ( that one cracks me up )

[fj1200]

But Hey, they haven't been prosecuted for it it so it must be legal, Right? At least I've been told that before.

Just came in to say, "what's up rev?" And ask what the crime was?

[fj1200]

rev, did I see on PBS NewsHour earlier?

Michael Greenberger, I'm going to begin with you.
Is Goldman Sachs as bad as Greg Smith says in this article?
MICHAEL GREENBERGER, University of Maryland: I'm sorry to say I think there's no doubt that that's the case.
I mean, in your lead-in, you have got Sen. Levin, who's given the Justice Department several hundred pages of investigative files. He believes that they not only deceived their customers, but deceived Congress by not telling Congress the truth.
Paul Volcker, former fed chair, reaches that result. Frankly, many people have said about Mr. Smith's op-ed that this is like telling you that the sun rises in the east in the morning about Goldman and, for that matter, the ethics on Wall Street in general. But it's still -- as this uproar demonstrates, it's a terrific sore, not only with people who are involved with Wall Street, but with the American public as a whole, who spend trillions bailing these companies out and continues to find out that there is conduct here that really defies common sense and good ethics.
And, with Goldman, it's especially troublesome, because Goldman had its famous 14 basic principles of business. Principle number one was. . .


http://www.pbs.org/newshour/bb/business/jan-june12/goldmansachs_03-15.html

:poke:

[Dilloduck]

It's a dog eat dog world sorta covered with fluff.