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Goldman on a mission from God
If Goldman Sachs is doing God's work, who benefits?
Posted by InvestorPlace on Monday, November 9, 2009 7:56 PM
By James Dlugosch
Alert the atheists; there's a Supreme Court case brewing here.
Word that investment bank and beacon of the global financial system, Goldman Sachs (GS), thinks it's doing God's work may mean that billions loaned previously under the government rescue program may have violated the constitutional requirement of separation between church and state.
5 Winners of a Weak Dollar
I don’t know about you, but I for one am a bit concerned that my taxpayer dollars were used to support Goldman chief Lloyd Blankfein’s mission from God. Perhaps an enterprising Justice Department lawyer can pursue this angle in hopes of securing billions in settlement money.
It sure would beat having all those billions going to employees in the form of outrageous salaries and bonuses.
Can you be more arrogant?
Goldman Sachs is having a very poor PR run of late. Just last week we learned that Wall Street firms, including Goldman received the swine flu vaccine ahead of more at risk individuals. Now its chief suggests it's doing God's works.
So perhaps this is the excuse. We wouldn’t want bankers and traders to be inconvenienced by a little virus in the course of God's work.
Oh boy, the hubris here is beyond belief.
Yes, banking and finance are extremely important to our capitalist system. Yes, bankers should get paid for doing a job well done. The problem I have, and I suspect others have as well, is where is the punishment for these guys when things go wrong?
For all the criticism of letting Bear Stearns die, I say that bankruptcy ultimately makes the system better. Many workers on Wall Street now have to stop and think, even if it is only a bit, about consequences of actions.
Yet here we are today and Goldman is sitting on a ton of cash. Big bonuses are back on Wall Street. And regulation to keep a mess like this from happening again has not materialized.
As Elwood Blues said in "The Blues Brothers" movie, “They’re not going to catch us. We’re on a mission from God!”
Related Articles:
Alert the atheists; there's a Supreme Court case brewing here.
Word that investment bank and beacon of the global financial system, Goldman Sachs (GS), thinks it's doing God's work may mean that billions loaned previously under the government rescue program may have violated the constitutional requirement of separation between church and state.
5 Winners of a Weak Dollar
I don’t know about you, but I for one am a bit concerned that my taxpayer dollars were used to support Goldman chief Lloyd Blankfein’s mission from God. Perhaps an enterprising Justice Department lawyer can pursue this angle in hopes of securing billions in settlement money.
It sure would beat having all those billions going to employees in the form of outrageous salaries and bonuses.
Can you be more arrogant?
Goldman Sachs is having a very poor PR run of late. Just last week we learned that Wall Street firms, including Goldman received the swine flu vaccine ahead of more at risk individuals. Now its chief suggests it's doing God's works.
So perhaps this is the excuse. We wouldn’t want bankers and traders to be inconvenienced by a little virus in the course of God's work.
Oh boy, the hubris here is beyond belief.
Yes, banking and finance are extremely important to our capitalist system. Yes, bankers should get paid for doing a job well done. The problem I have, and I suspect others have as well, is where is the punishment for these guys when things go wrong?
For all the criticism of letting Bear Stearns die, I say that bankruptcy ultimately makes the system better. Many workers on Wall Street now have to stop and think, even if it is only a bit, about consequences of actions.
Yet here we are today and Goldman is sitting on a ton of cash. Big bonuses are back on Wall Street. And regulation to keep a mess like this from happening again has not materialized.
As Elwood Blues said in "The Blues Brothers" movie, “They’re not going to catch us. We’re on a mission from God!”
Related Articles:
Fund data provided by Morningstar, Inc. © 2009. All rights reserved.
StockScouter data provided by Gradient Analytics, Inc.
Quotes supplied by Interactive Data.
MSN Money's editorial goal is to provide a forum for personal finance and investment ideas. Our articles, columns, message board posts and other features should not be construed as investment advice, nor does their appearance imply an endorsement by Microsoft of any specific security or trading strategy. An investor's best course of action must be based on individual circumstances.
StockScouter data provided by Gradient Analytics, Inc.
Quotes supplied by Interactive Data.
MSN Money's editorial goal is to provide a forum for personal finance and investment ideas. Our articles, columns, message board posts and other features should not be construed as investment advice, nor does their appearance imply an endorsement by Microsoft of any specific security or trading strategy. An investor's best course of action must be based on individual circumstances.
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