Saturday, April 14, 2012

Goldman Sachs - take the money and run

Conflicting reports about Goldman Sachs CEO's pay raise. The Washington Post claims Goldman Sachs Group Inc. awarded Chairman and Chief Executive Officer Lloyd C. Blankfein $12.4 million in compensation for 2011, down 35 percent from a year earlier, as the firm’s profit and stock fell.

Yet Sympatico Finance is reporting that Goldman Sachs Group Inc Chief Executive Lloyd Blankfein's compensation increased 14.5 percent to $16.2 million in 2011 despite a sharp decline in profits and share price during the year, leaving the bank open to more attacks on its pay policies. Sounds like a lot of manipulation of numbers to me.

Last June it was reported that After Taking A $10 Billion Bailout, Goldman Sachs Announces It Will Outsource 1,000 Jobs To Singapore.

When a partial disclosure of where the bail out money went was released, Chuck Grassley said, "We thought originally we were bailing out AIG. Then later on ... we learned that the money flowed through AIG to a few big banks, and now we know that the money went from these few big banks to dozens of financial institutions all around the world."

Grassley said he was reserving judgment on the appropriateness of U.S. taxpayer money ending up overseas until he learns more about the 32 entities. Jobs being sent overseas is bad enough. Sending tax payers bailouts over sees is even worse.

I'm afraid Mitt Romney is more of the same. We had hope in Ron Paul.


  1. Michael Moore pointed out that Goldman Sachs became Obama's largest campaign contributor. I had heard similar things about Romney. Libertarian sounds good but I do have a few concerns with no governmental regulation in trade. Kinda like TILMA where a trade agreement removes individual freedom by making it illegal for any level of government to create a law that would inhibit a corporation's ability to make a profit. Those kind of trade deals remove our democracy and our sovereignty. Making it ilegal to protect the environment and ban dumping of nuclear waste is absurd.

  2. The finance boys will buy whoever they have to to continue to do business. It's not really that complicated. Except the "getting it through our thick heads" part.

    Until money and politics are separated and all ability to benefit one from the other is eliminated by law and enforced with harsh penalties, "the players change but the game remains the same". Again.

    Lobbying? Illegal. Attempting to influence? 20 years, no parole. Funneling money? Same thing. We're like a patient that has cancer but won't have the surgery.

  3. How would it make anything worse than it is?? Why should all should all industry be controlled by the government? Everything that is anything in this contry is a crown corp wich is government we live very close to full on socialism. But thats how you would like it because its very clear your a die hard libral that wished the government controlled 100% of everything and only police and military had guns. I bet you work for a crown corp by all your H.A bashing most likly current or former RCMP calling all H.A organized crime members is like calling all RCMP rapests.

  4. Why should the industry be controlled by the government? Well lets see, first there would be fraud. Laws should be framed to prevent corporations from committing fraud. Then there's the environment. Laws should be framed to protect the environment so corporations don't dump toxic or even radioactive waste. You jump to a colossal stereotype and think that because I disagree with a very important principle that protects individual rights and freedoms, then somehow I'm a socialist who opposes the right to bear arms. I don't see the math that warrants that conclusion. Do you think the industry should be allowed to dump toxic waste into our rivers or even radioactive waste in our landfills? Do you think industry should be prevented from committing fraud? I don't think those two concerns make me a socialist. The socialists are the ones that took a tax payer bailout to fund their fraud. It's kinda like Harper erroneously claiming anyone who doesn't vote for him is a socialist or a separatist. I think the libertarians have many good ideas. I'm just concerned with excessive deregulation because experience has shown us that too much deregulation opens the door to investment fraud. Remember the VSE?

  5. Construction magnate Tony Accurso arrested in anti-corruption raids.

    Total of 15 charged in vast operation north of Montreal.

    "More than 120 police officers and civilian investigators swept into the sleepy bedroom community of Mascouche just before sunrise Tuesday and charged 15 people, including construction magnate Antonio Accurso, with fraud, corruption, bribery and conspiracy."

    "Robert Lafrenière, head of the anti-corruption squad UPAC, said the arrests represent a “major achievement” in Quebec’s battle against corruption and collusion in the awarding of government contracts."

    “Today, UPAC has made an important step in the fight against corruption,” he said. “This morning, our investigation was successful and proves clearly that corruption is not tolerated in Quebec.”

    "The 18-month investigation, during which the Sûreté du Québec interviewed about 120 witnesses and seized hard drives and thousands of pages of data, ended with the 6 a.m. arrests. The suspects, who include a lawyer, businessmen and women and public officials, were transported to holding cells at the headquarters of the Sûreté du Québec on Parthenais St. in Montreal and later released." (MontrealGazette)

    1. Typical libral you are purposely ignoring the facts to suit your own cause. Is there anything in the libertarian party saying they want to legalize fraud and dumping of radioactive waste those are criminal matters and allways will be. Its about quotas, taxation, trade tariffs, employment standards, bullshit carbon taxes things of that nature. You went right away to extreme misinformation how sad....

    2. I assume you are responding to me not Freddy. Still jumping to stereotypes by branding me a liberal because I disagree with one point. You need to take a deep breath and realize how closely I do support many of the ideals within the Libertarian ideology. For example I also oppose the carbon tax grab. I was merely raising a concern I found on your link to the Libertarian beliefs. It said "Economic Policy: The Party supports a highly laissez-faire economic policy. It opposes most, if not all, government restriction or regulation of voluntary trade, including the imposition of centrally planned labour and environmental standards."

      I threw out a couple of obvious concerns. You went out of your way to mention that Libertarians oppose environmental standards. That is even less subtle then the wording of TIMLA. If you do away with all environmental standards then you are allowing industry to dump toxic waste and radioactive waste because you clearly said you oppose all environmental standards.

      The other concern is public medical. If a democratic society chose to create a public health care system, and some trade agreement states you can't create any law that would inhibit a corporation's ability to make a profit, then that agreement is saying any private health practitioner can sue and prevent the democratic will of those citizens because a public health care system could interfere with their ability to make a profit. I may not be a socialist but I do support public heath care.


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