Sunday, June 21, 2009

Goldman Sachs Flips American Citizens The Bird - Karma Is Ultimately A Bitch

It's good to see Goldman Sachs' public relations team has learned to keep a low profile after receiving countless unwarranted bailouts from the American people. Goldman apparenly is readying the biggest bonuses in its history.

Let's see. TARP bailouts. AIG counterparty bailouts. General backstopping of financial assets by the Federal Reserve bailout. Charter to become a Federal Bank bailout. Ability to now issue debt backed by the American people bailout. No re-regulation of financial speculation of trading with society's money bailout. Making profits in commodities and thereby taking money from the world's people via higher prices caused by speculating bailout. Minting money on America's unprecedented issuance of debt bailout. What did I miss?

If any American citizen who has lost his or her job, their house and any other significant economically-induced losses and they had received these types of government bailouts, they would be living large in retirement. Yet, I believe a plausible argument can still be made that Goldman Sachs will ultimately fail.

Keep paying out those bonuses Lloyd. That drain on retained earnings will never be missed. Haha. You'll have even less capital needed to ultimately save your company. Karma is a bitch.

I'm starting to wonder if some of the conspiracy theories are true and if Lloyd Blankfein is in fact Damien Thorn.
posted by TimingLogic at 2:34 PM