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Just about everyone has heard of Goldman Sachs. Few, until recently, had heard of Mike Morgan, a Florida-based investment adviser, just recovered from heart surgery. Over the past few months, Morgan has become one of those shooting stars of cyberspace. He set up a blog, goldmansachs666.com , whose posts have included “Does Goldman Sachs run the world?” and “If Goldman Sachs robbed your house, what would you do?”.
Aggrieved at being traduced under the devil’s sign, the American investment bank ordered Morgan to take down his site. He refused. A legal spat ensued.
Now, the site appears with the following disclaimer: “This website has not been approved by Goldman Sachs. This website was designed to provide information about Goldman Sachs to demonstrate [in Mr Morgan's view] how destructive this company is to our lives and the hopes and dreams of our children.”
Few companies generate such vitriol. But sometimes you wonder if Goldman doesn’t actually want to be hated. Just look at this week’s humdinger. Fresh from repaying $10 billion (£6 billion) of rescue funding from the American taxpayer, and amid the biggest economic crisis since the 1930s, Goldman turned in record second-quarter earnings of $3.44 billion a 65 per cent rise year-on-year.
That’s only half of it, though. The upshot of these monster earnings is that Goldman’s 29,400 staff are set to rake it in as never before. As if the credit crunch had never happened, the Goldmanites are on course this year for average pay, bonus and benefit packages of an eye-watering $770,000 per head. That’s almost twice what President Obama earns
Top of the list is its former chief executive, Henry Paulson, the man who was George Bush’s last Treasury Secretary and the architect of the Wall Street bank bail-out. Paulson was only following form. Another Goldmanite, Robert Rubin, was Treasury Secretary under Bill Clinton.
Paulson, it is widely known, could not stand Dick Fuld, the former boss of Lehman Brothers. So, the conspiracy theory goes, Paulson was happy to let Lehman go to the wall the one major bank that America declined to rescue. Even so, it stretches it a lot to say that allowing Lehman to collapse was all part of a grand design to help Goldman.
As one Wall Street banker puts it: “Lehman almost brought down the entire financial system, forcing Goldman to go cap in hand to the Treasury for $10 billion of Tarp funds” the bail-out under the US government’s Troubled Assets Relief Programme. “If Paulson had been trying to help his old bank, he would have let Bear go rather than Lehman.”
Two controversies feed the conspiracy theories. First, after Lehman fell, Goldman and the remaining US investment banks found it impossible to finance their businesses. So, the US government allowed chief executive Lloyd Blankfein to turn Goldman into a bank holding company, regulated by the US Federal Reserve a move also followed by Morgan Stanley. This enabled Goldman, which was now constituted as a commercial bank, to gain access to fresh and cheap funding from the Fed.
http://www.telegraph.co.uk/finance/5837373/Just-how-did-Goldman-Sachs-manage-that.html
Duration : 0:9:21
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March 10th, 2010 at 11:26 pm
Hey Beck, how about …
Hey Beck, how about Ron Paul, the canidate that has voted with the Constitution for 30 years. Why don’t you ever mention his name.
March 10th, 2010 at 11:26 pm
Banksters – to …
Banksters – to prison !!
March 10th, 2010 at 11:26 pm
MICHAEL JACKSON was …
MICHAEL JACKSON was murdered by the Illuminati, for him Exposing them! The Masons and Israel and the Bankers that own SONY AND THE ZIONIST COMPANIES! THE PEOPLE THAT ARE COVERING UP 9/11! X=MURDER! X IS THE CROSS CHRIST DIED ON! THE ZIONIST BANKERS AND FEDERAL RESERVE OWNERS DID 9/11!
March 10th, 2010 at 11:26 pm
imagine the U.S …
imagine the U.S bought Mexico government bonds .Mexico has a new government caused by an economic crisis,the new government reveals that a Chinese bank with the Chinese stock market had colluded with the Mexican government to defraud the U.S ? what would happen ? Goldman Sachs and Wall street with the greek government has done something similar ?? guess who bailed out Greece just a short time ago against the will of there own people ?yes China ,how long before China starts demanding answers ??
March 10th, 2010 at 11:26 pm
how long before …
how long before German neo nazis start pointing out that this crisis if not ended will bring Germany down had been fueled by Goldman Sachs a Jewish named bank ?? This crisis is set to get much much worse ?
March 10th, 2010 at 11:26 pm
never thought i …
never thought i would see myself appuading this guy . Obama was well paid by GS (ans repaid billion s),but what if he did not help GS what would be the repercussions
March 10th, 2010 at 11:26 pm
Hell of a plan by …
of a plan by GS, but look ahead! It is over for them. If you own stock is GS you better get the out and fast! I noticed and they know what that means.
March 10th, 2010 at 11:26 pm
LUV glenn beck!
LUV glenn beck!
March 10th, 2010 at 11:26 pm
10 billion paid …
10 billion paid back? What about the 10000 billion all those banks caused in indirect damage through their immoral russian roulette?
March 10th, 2010 at 11:26 pm
why is this kind of …
why is this kind of stuff on fox news?
March 10th, 2010 at 11:26 pm
End the Fed,
Im …
End the Fed,
Im not religious but Jesus had a point tossing these money changers out of the temple. We need to do the same.
Their decendants eventually passed the ILLEGAL Federal Reserve act which robbed US citizens of both Identity and Money.
Now they have taken our money to gain themselves windfall profit.
I can only begin to wonder why their ilk was tossed from every single country in europe.
Because they DID the same thing to those host countries too.
March 10th, 2010 at 11:26 pm
They are still …
They are still banks, but there is no longer a separation between Commercial and Investment Banking. This is a problem that was addressed by the Pecora Commission, after the Great Depression of the 1930s. They had the intelligence to understand that you must separate the 2 types of banking, for economic stability.
March 10th, 2010 at 11:26 pm
Ok and what does …
Ok and what does that make them??? Their obviously not an Investment bank. So in the merger they were allowed to become commercial banks or become a part of commercial bank holding companies for access to the federal reserve borrowing windo so therefore, investment banks do not exist except for small boutique firms. So I believe that were essentially saying the same thing. I just didn’t classify it as a merger.
March 10th, 2010 at 11:26 pm
BECK, RUSH, …
BECK, RUSH, HANNERTY- ARE ALL PAID BY THE CEOs
WAKE UP
March 10th, 2010 at 11:26 pm
@chuckminsterabby …
@chuckminsterabby When the Glass Steagall Act was repealed, the Commercial and Investment banks were allowed to merge.
March 10th, 2010 at 11:26 pm
Nationalize Goldman …
Nationalize Goldman Sachs and The Federal Reserve its your money steal it back….
March 10th, 2010 at 11:26 pm
Wall Street ( …
Wall Street (manipulations) bailouts were rigged and a fraud.
High frequency trading, flash orders, naked short selling by:
Goldman, JPM, CIT, MorganStanley, AIG: thieves and frauds
Sorry folks but We we have all been screwed, been had, peed on, scammed and
lied to, your labor devalued to Zero. Time to walk away from CC card debt,
get your money out of your bank, if any, sell your fiat stocks, bonds, etf’s.
load up on silver bullion (in your hands), shop local mom and pop.
Starve the Beast!
March 10th, 2010 at 11:26 pm
Better question… …
Better question… Any idea how to burn a banker and take their money?
March 10th, 2010 at 11:26 pm
plutocracyslayer( …
plutocracyslayer(dot)com
STOP THE PLUTOCRACY NOW!
March 10th, 2010 at 11:26 pm
OOOOOOOOOOOOO… I …
OOOOOOOOOOOOO… I get it.
Goldman knows what they’re doing…
March 10th, 2010 at 11:26 pm
actually all …
actually all investment banks had the opportunity to become a bank holding company. I repeat there are no more powerhouse investment banks.
March 10th, 2010 at 11:26 pm
Do all notice that …
Do all notice that their all jews? Can you imagin they they were Italians? It would be a field day on MSM.
March 10th, 2010 at 11:26 pm
She is greedy if …
She is greedy if she can’t afford to own a home in the first place but still does…
March 10th, 2010 at 11:26 pm
so what if …
so what if americans can vote ?? all their votes bring more crooks . Obama is just a puppet , owned by Goldman . Any idea how to burn a banker ?
March 10th, 2010 at 11:26 pm
The Chinese system …
The Chinese system of control (communism run by fascists) is being implemented in the United States.