Goldman Sachs Execs On Track For Record Pay

AP:

NEW YORK (AP) -- Goldman Sachs is emerging as the king of post-meltdown Wall Street.

Already the most powerful U.S. financial company before the credit crisis, the bank profited handsomely from Wall Street's rally and the recovering credit markets during the second quarter and distanced itself from the few competitors still standing.

Read the whole story: AP

Comments

[DustinTime]

Only Goldman Sachs people are qualified to oversee Goldman Sachs. In fact, if you're not from Goldman Sachs, you're not even qualified to think about them. So stop it!

Stop thinking!

Goldman Sachs will do the thinking for you.

It may look like they've rigged the system. It may look like they have virtually monopolistic, revolving-door control over our financial institutions. But, in America, everyone is obligated by patriotic duty to look away from patently obvious conclusions and dismiss them as "conspiracies."

Take the JFK assassination/coup d'etat... most Americans are so righteously patriotic, they even look away from their own congress, who actually determined officially with the United States House Select Committee on Assassinations that Oswald was operating as part of a... wait for it... "conspiracy." In plain English, they looked at the facts and couldn't help but conclude that he obviously didn't act alone.

But, our mainstream media is so very, very patriotic, they still insist Oswald did it all by his little, immediatel­y-silenced self.

That's the kind of patriotism we can all look up to.

[Retrofuturistic]

When is Obama going to stand up to this???

[billyfitz]

Never.

[mirza]

Goldman hasn't paid this back:

Goldman and other banks were fully reimbursed by the taxpayer on credit default swap contracts with failed insurance group AIG.

[LatteLibertine]

Must be nice to have a high level job with these fellows.

[DustinTime]

It's good to be the shadow government!

Kidding, I kid...

That's the Federal Reserve.

[1088]

I guess they can do whatever they want! They payed back their loans plus interest to the government, and now they are free to get right back to where they were before. Our Reps refused to pass the bill to stop this greed.

[jeanrenoir]

Goldman paid us taxpayers back, in full, and with interest. What's not to like? They hire the smartest financial brains in the country and make lots of money as a result. What a shock! They were not responsible for the credit fiasco. Naturally, they profit from ALL conditions in the economy. That's what they're paid to do.

[pfc1369]

What you have said is patently false.

Goldman HAS NOT payed the taxpayer back in full.

They can only profit from "all conditions" when their hired help (the Congress) dictates those conditions.

[thenorthshore]

libs and socialist mantra

stop rewarding success

[pfc1369]

Where success = craftiest thief, of course.

[viperhawk2k4]

I like this guy, he make me laugh!

[StuManChu]

Wait until cap and trade. These guys at goldman are going to make huge amounts of money, while we pay more for everything.

[vippy]

The U.K. and France and Germany immediately took steps to put limits on CEO Pay, why did the USA
not follow? Makes you think, doesn't it. They also addressed short selling, derivatives and the hedge
funds, we did not. This tells me there will be no end to the rip off inflicted on us tax payers. Now go vote for the same senators and congressmen all over again and then don't complain why you have this government!

[lochnessmonster]

Makes you wonder if they really needed the bailout at all! I think the same about Citigroup and the rest of them. I wonder if they weren't just crying wolf. Let them fail next time. NO MORE BAILOUTS!

[martiniandabotoxchaser]

Okay conspiracy folk...ya ever wonder if this economic disaster was orchestrated by Goldman Sachs. Their alumni hold most of the top economic/financial jobs in government. Their main competitors have been eliminated in this depression. Now they have record profits when the rest of the economy is faltering. Things that make ya go hmmmm.

[DustinTime]

Well, you see, in America, everyone is obligated by patriotic duty to look away from patently obvious conclusions and dismiss them as "conspiracies."

JFK coup d'etat, anyone?

Hell, most Americans are so patriotic, they even look away from their own congress, who actually determined officially with the United States House Select Committee on Assassinations that Oswald was operating as part of a... wait for it... "conspiracy." In plain English, they looked at the facts and couldn't help but conclude that he obviously didn't act alone.

But, you see, our mainstream media is so very, very patriotic, they still insist Oswald did it all by his little, immediatel­y-silenced self!

And remember: only Goldman Sachs people are qualified to oversee Goldman Sachs. In fact, if you're not from Goldman Sachs, you're not even qualified to think about them. So stop it!

Stop thinking!

Goldman Sachs will do the thinking for you.

[PhilipTaylor]

Glass-Steigel them!

Divide them up and get rid of the JUNK at the expense of the Stakeholders!

Anyone can show a Mammoth Profit if you FAKE IT using Legalized Illegal Accounting!
ENRON did!

So is G0LDMAN's $3.44BillionProfit larger than $47.7Trillion in TOXIC DEBTS?

NO! Well Then they are Bankrupt and so are ALL these Banks!

A Federal Agency in our Government, the 0ffice of the Comptroller of the Currency, 0CC, issues a quarterly Report that has the following info:

1 JPM0RGAN $81TRILLION in Toxic Derivatives
2 B 0F A $78TRILLION
3 G0LDMAN $48TRILLION
4 M0RGAN $39TRILLION
5 C1T1GROUP $32TRILLION

http://www.occ.gov/ftp/release/2009-72a.pdf
Page 23!

Without "MARK-TO-MARKET" they exaggerate the Value of Derivatives "On-Balance-Sheet" while G0LDMAN has increased their Toxic Debts from around $30Trillion to almost $48Trillion all conveniently hidden OFF-BALANCE-SHEET!

So accounting is totally FAKE! Why do analysts ignore the "MAMMOTH DEBT IN THE ROOM" - unless they are paid!

Well Congress Made this and continues to allow this 1llegal Accounting to be Legal!

So they are also to blame! But Congress is well PAID for its VOTES!

We need to:

1. Outlaw ENR0N Loophole+return to FULLY HONEST Accounting

2. Return Glass-Steigel and separate Big Banks functions into legal entities

3. Outlaw Credit Default Swaps

4. Take these Criminals to C0URT

5. Automate Banking99%­+Trading10­0% with built in accountability - use computers to help not hurt

6. Heavily Regulate Banks+Hedge Funds+Derivatives

[PhilipTaylor]

When did it sound like a good idea to have "OFF-BALANCE-SHEET" accounting? Wasn"t this an invention by the ENR0N Accountants Arthur Anderson to hide the corrupt practices of ENR0N? Why is the ENR0N L00PHOLE still legal? AND Why is Wall Street still using it to hide their FAKE ACCONTING?

Return Democracy to our Congress and our Country for the first time since Jackson!
_________

Wilbur Ross, one of the super-rich Timmy picked for his PPIP program, in a RARE MOMENT of FULL HONESTY on CNBC last Monday, said,

"This is the largest TRANSFER of DEBT from the PRIVATE Banks to the Government in History and it will take MANY YEARS."

So are they going to gradually weigh down Americans with 50 years of GDP Growth ($700 Trillion) that will take 200 years to work OFF?

Close the Zombie BANKS, FD1C and C0NGRESS!

Wilbur Ross is also implying it is the Greatest transfer of wealth from the American People/Government to Wall Street over MANY YEARS as a corollary!

Thanks Wilbur for the RARE MOMENT of FULL HONESTY from Wall Street!

CNBC has the video interview with Maria!

[vippy]

I said the same. The Brits and France and Germany immediately addressed these problems
and got it fixed, the USA did not. It speaks volumes but folks are too dumb to see it.

[1088]

Our Reps are bought and paid off by big Business! They don't want to pass the Regulation bill!

[yukoner1]

You're never going to be able to pass laws governing the greed of these people. A far better approach is through the tax code. Stop taxing these bonuses as capital gains - they are not actually capital gains for those who receive bonuses, and institute a real progressive income tax. Remember the top rate in (Republican) Eisenhower years was 90%. If society feels these incomes are unearned then tax them away.

[thenorthshore]

...taxes: confiscating small portions of money (90%) from the rich and returning it to the People who are the money's rightful owners. In a just and equitable society of the future there will be no taxes as there will be nothing to collect. The State will be the People's only employer and will keep all their earnings. Instead of salaries, the State will distribute goods and services based on one's good conduct.

from the loonie left

[SamKnause]

But, another one of the big problems is that they don't pay their taxes, Offshore Accounts.

[Avanti2]

What comes with record pay is record taxe revenues for the Federal, NYState and NYC Governments.

[martiniandabotoxchaser]

Unless they can shelter their income.

[SamKnause]

That would be nice, but not in the reality of this world. Loopholes and Offshore Accounts.

[Avanti2]

It is impossible to shelter salary and bonus income from Federal, State and City Income Taxes. Income Tax Withholding is required by the Feds, States and NYC BEFORE the net amount is paid to the employee.