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500M is chicken feed for almost any financial institution.Any gangsters at Goldman Sachs?Are they gangsters?
Yes, many corrupt government officials in Malaysia are gangsters.
If so, why aren't they being investigated for doing "God's work"?
Goldman Sachs' $500 Million Mea Culpa
"It’s truly touching that Goldman Sachs’ CEO Lloyd Blankfein, who recently said that his too-big-to-fail, Fed-backed holding company is doing 'God’s work,' has offered a mea culpa (of sorts) for his firm’s past sins.
"Our beneficent overlords at Goldman Sachs promise to bestow upon small business a boon of $500 million."
"This generous sum is about 3 percent of the $16.7 billion that Goldman has set aside for its employees this year — a year of expected record-breaking profits on Wall Street."
How do those who get rich from usury and other forms of criminal activity sanctioned by the state deserve their ill-gotten gains? Most of the super rich have gotten rich by taking advantage of an economic system that creates fortunes for a few of the most greedy members of society and poverty for many citizens.People who create more wealth, end up earning more wealth.
The super rich, are super rich, because they provided goods or services that benefit the most people.
Andy was taught as a young lad that he deserved what he got.How do those who get rich from usury and other forms of criminal activity sanctioned by the state deserve their ill-gotten gains? Most of the super rich have gotten rich by taking advantage of an economic system that creates fortunes for a few of the most greedy members of society and poverty for many citizens.People who create more wealth, end up earning more wealth.
The super rich, are super rich, because they provided goods or services that benefit the most people.
Money, markets and corporations are all creations of the state, and the rich have controlled virtually every government in history; only slaves endorse such crimes.
I think that depends on how many GS people were prosecuted for fraud, and based on past experience the answer to that number is low, to say the least.What if all of their investors simply switched to a different firm?
You know what would happen?
The investors would tell the new firm to hire all the people from GS.
Where is that going to get anyone?
The crux of the issue is that no one can afford to run for office without contributions.I think that depends on how many GS people were prosecuted for fraud, and based on past experience the answer to that number is low, to say the least.What if all of their investors simply switched to a different firm?
You know what would happen?
The investors would tell the new firm to hire all the people from GS.
Where is that going to get anyone?
Goldman Sachs controversies - Wikipedia
"Goldman has been harshly criticized, particularly in the aftermath of the financial crisis of 2007–2008, where some alleged that it misled its investors and profited from the collapse of the mortgage market.
"That time — 'one of the darkest chapters' in Goldman's history according to The New York Times[2] — brought investigations from the United States Congress, the United States Department of Justice, and a lawsuit from the U.S. Securities and Exchange Commission[3] that resulted in Goldman paying a $550 million settlement."
I think we need brokerage firms, but I wonder what would happen if they were not permitted to turn loans into securities? I'm also unsure if we need derivative abuse, private equity, complex securitization, pyramid schemes, off-balance sheet assets. And lately I've begun to have my doubts about the New York Fed?Andy was taught as a young lad that he deserved what he got.
But usury is another issue.
What would happen to our economy overall if we did not have brokerage firms?
And those at the top never face prosecution, which should make more Americans angry at bankers instead of immigrants:Legislation is crafted on Wall Street and handed over to Representatives of both Parties at Banquets and BBQs (I call this the Wall Street Union) who then get together and vote on vaguely stated rules of financial conduct.
The firms then attempt to operate within these vague rules and have the best attorneys money can buy.
On the other hand, well over 90% of cases are settled out of court,Most inmates in US prisons have never had a trial; they were railroaded by a Justice system that is so badly underfunded (because rich capitalists refuse to pay taxes) most defendants who can't afford a good lawyer opt for a plea bargain instead of facing a jury of their peers.that's because people are committing crimes. You know who doesn't send people to prison? Countries in anarchy. Enjoy somalia, if you don't want criminals in prison
The fact that many of these defendants come from communities ravaged by globalization should tell why politicians like Trump and Biden feel the need to portray themselves as crime fighters when their efforts serve the biggest felons on the planet.
The Felon: JP Morgan Chase Latest Act is to Hide More Information Becoming More Secretive
I used to work out with a guy who was a NYS Narc and over 90% of those caught red handed never spent a minute behind bars.
wouldn't the government be enlightened to have business lock down and run THEM for a change....~S~Another example is the lockdowns and allowing the Governors to govern each state differently. We need less Gov't involvement not more. PPP was a disaster for example. Should have been reserved for health clubs, restaurants and some non-essential businesses that had to shut down. Not everyone.I would not say "never"..example being LASIK surgery. Used to cost $5k per eye and now its $1,200k? Maybe less. More providers came in to lower the price, tech got better and insurance doesn't cover so it is cash pay so the consumer can choose.New Yorker is the epitome of Fake News.Republicans like?Republicans are for capitalism or free markets ie govt and business are separate. You get ahead when people want to buy your products not when a socialist govt interferes with your freedom to increase your standard of living.
Coronavirus Is Forcing the GOP to Admit Its Ideology Is Delusional
"As the coronavirus pandemic shutters America’s storefronts and fills its ICUs, the GOP is camouflaging a whispered confession beneath a cough.
"The party’s admission is so quiet most Republicans can’t even make it out themselves.
"But listen carefully to recent directives from the Trump administration and its allies and you’ll hear unmistakably: Our theory of governance is a lie."
Republican capitalism thrives by privatizing profits and socializing costs.
It is at least ironic when an economic system modeled on a cancer cell is undone by a virus.
but this rings truth Az>
Republican capitalism thrives by privatizing profits and socializing costs.
however it is not partisan
~S~
Republicans should be for small gov't and free markets. So should liberals. So should everyone.
well i agree Az......and they always tell us that......but it never happens......~S~
yes, at least basic supply/demand or what is often referred to as supply side /demand side economics remains a functional component of our economy Az
it's when 'da GubMit tries to help when things go China (pun intended) , many examples.....particularly recent activity....~S~
If the bank that owns your mortgage fails... another bank buys it, and life goes on. If that bank fails, another bill buy it. This can happen a hundred times, and have no effect whatsoever on the mortgage.
GS seems to appear regularly in corrupt business dealing, yet their elite executives are more likely to receive an invitation to the White House than a credible Justice Department investigation regardless of which party occupies the Oval Office.
What drug were they caught red-handed with?On the other hand, well over 90% of cases are settled out of court,
I used to work out with a guy who was a NYS Narc and over 90% of those caught red handed never spent a minute behind bars
We're talking cocaine, heroine, hard stuff.What drug were they caught red-handed with?On the other hand, well over 90% of cases are settled out of court,
I used to work out with a guy who was a NYS Narc and over 90% of those caught red handed never spent a minute behind bars
Drug prohibitions are a bigger problem than drugs, imho.
Four Decades and Counting: The Continued Failure of the War on Drugs
"We conclude that prohibition is not only ineffective, but counterproductive, at achieving the goals of policymakers both domestically and abroad.
"Given the insights from economics and the available data, we find that the domestic War on Drugs has contributed to an increase in drug overdoses and fostered and sustained the creation of powerful drug cartels.
"Internationally, we find that prohibition not only fails in its own right, but also actively undermines the goals of the Global War on Terror."
Socialism was never practiced in the Soviet Union, and it isn't likely to get a fair trial in the US:because what we have favors the oligarchs , just as it does thier system
How do those who get rich from usury and other forms of criminal activity sanctioned by the state deserve their ill-gotten gains? Most of the super rich have gotten rich by taking advantage of an economic system that creates fortunes for a few of the most greedy members of society and poverty for many citizens.People who create more wealth, end up earning more wealth.
The super rich, are super rich, because they provided goods or services that benefit the most people.
Money, markets and corporations are all creations of the state, and the rich have controlled virtually every government in history; only slaves endorse such crimes.
I think we need brokerage firms, but I wonder what would happen if they were not permitted to turn loans into securities? I'm also unsure if we need derivative abuse, private equity, complex securitization, pyramid schemes, off-balance sheet assets. And lately I've begun to have my doubts about the New York Fed?Andy was taught as a young lad that he deserved what he got.
But usury is another issue.
What would happen to our economy overall if we did not have brokerage firms?
Wall Street’s Financial Crisis Preceded COVID-19: Chart and Timeline
"If a reputable polling outfit were to ask Americans what caused the current financial crisis on Wall Street, they would say the coronavirus COVID-19 pandemic.
"If Americans were asked in the same poll when the financial crisis on Wall Street started, they would tie it to outbreaks of the virus in the U.S. this year.
"But as the timeline below and the chart above clearly substantiate, the financial crisis on Wall Street began in earnest on September 17, 2019, almost four months before the first death from coronavirus anywhere in the world was reported in China on January 11, 2020 and five months before the first death in the U.S. was reported on February 29, 2020, having occurred one day earlier on February 28. (See the New York Times coronavirus timetable here."
And those at the top never face prosecution, which should make more Americans angry at bankers instead of immigrants:Legislation is crafted on Wall Street and handed over to Representatives of both Parties at Banquets and BBQs (I call this the Wall Street Union) who then get together and vote on vaguely stated rules of financial conduct.
The firms then attempt to operate within these vague rules and have the best attorneys money can buy.
[Letter from Washington] The Malaysian Job, by Andrew Cockburn | Harper's Magazine
"The scheme laid bare the dark underbelly of globalization. A racket concocted in far-off Malaysia came to involve people and institutions all across the world, owing to a system of elite networks seemingly fine-tuned for criminal enterprise. 'Using prestigious, brand-name gatekeepers is often the key to pulling off complex financial crimes,' Dennis Kelleher, CEO of the financial watchdog group Better Markets, told me. 'They effectively sell their credibility and imprimatur, which criminals use to overcome their victims’ skepticism. When they get caught, the enriched gatekeepers that made it all possible claim no knowledge or liability for the billions of dollars in damage done. The corruption of the enablers and their lack of accountability is what makes people so angry.'"
I think you should do some research into how a skyscraper or mega-mall gets built.I think we need brokerage firms, but I wonder what would happen if they were not permitted to turn loans into securities? I'm also unsure if we need derivative abuse, private equity, complex securitization, pyramid schemes, off-balance sheet assets. And lately I've begun to have my doubts about the New York Fed?Andy was taught as a young lad that he deserved what he got.
But usury is another issue.
What would happen to our economy overall if we did not have brokerage firms?
Wall Street’s Financial Crisis Preceded COVID-19: Chart and Timeline
"If a reputable polling outfit were to ask Americans what caused the current financial crisis on Wall Street, they would say the coronavirus COVID-19 pandemic.
"If Americans were asked in the same poll when the financial crisis on Wall Street started, they would tie it to outbreaks of the virus in the U.S. this year.
"But as the timeline below and the chart above clearly substantiate, the financial crisis on Wall Street began in earnest on September 17, 2019, almost four months before the first death from coronavirus anywhere in the world was reported in China on January 11, 2020 and five months before the first death in the U.S. was reported on February 29, 2020, having occurred one day earlier on February 28. (See the New York Times coronavirus timetable here."
you do realize usury was verbotten in the old worldUsury? LOL!
I'm guessing other people's money or a guarantee from the New York Fed?What do investors want in order to lock up their promised assets into such a project for years?
you do realize usury was verbotten in the old worldUsury? LOL!
~S~
