Goldman Sach's Charity Filings Reveal Foundation's Complex Trades

New York Times:

The 2008 tax filing for the Goldman Sachs Foundation, a copy of which was provided by the firm late Wednesday, provides a glimpse of the legendary trading that has helped put the firm on track for its best year ever.

Read the whole story: New York Times

Comments

[NoMoreBail2]

We, the American people, dug ourselves into this hold for which there is no escape.a
f
hat tip to: http://financeopinionss.blogspot.com

[tucsoncindy]

please to meet you hope you catch my name......­...but whats puzlin you is the nature of may game..

[PhilipTaylor]

AMERICA’S LOST TAX ON LUXURY 1NCOMES = D1SCRETIONARY INCOMES!

The TOP 1% of Americans Make 95% of all D1SCRETIONARY INCOME (above surv!va1)

AMERICA’S LOST TAX CAPACITY ON D1SCRETIONARY INCOME IS 46% to 77%:

TOP 1% pay less than a 17% TAX RATE! G0LDMAN paid 1% last year!

63% to 94% = Top Tax Rate (Pre-Reagan for 50 years 1932-82) on $550,000 Incomes

In 1981 Top Tax Rate was 70% on Income over $212,000 ($550,000 today)

LOST TAX CAPACITY = 94% - 17% = 77% (high side) 63% -17% = 46% (LOW SIDE)

America’s Budgets are out of WH_ACK from lost TAXES that encourage $100 Million Bonuses!

That just means that the top 1% discovered it was cheaper to buy the politicians than to pay the taxes.

[PhilipTaylor]

GREED = $1 for Char!ty and $150 for ME in B0NUSES + FAR MORE for INCOMES!

Yes 0.67% of the BONUSES GIVEN NOT TO CHARITY BUT TO THEIR OWN FOUNDATION IS TRIVIAL!

0UTRAGE0US!

D1SGUST1NG!

HYP0CR1T1CAL!

[Stretchumall]

I'm reminded of the Bush' donation to Katrina victims that had to be used at another Bush' buisness.
Sickining!

[windup]

Why do I suspect that the 'charities' Goldman gives to will somehow reinforce the capitalist doctrine of make money and more money? I'll bet those contibutions to Universities (which aren't charitable organizations) are going to business and law programs that will turn out more mini Goldmans. I just doubt that there's any REALLY charitable organization on their list. It is no doubt 'given' with the thought of future return.
But I'm such a cynic.

[robertml1]

no, you just don't knwo anything about the company.

[max08]

Goldman cheapskates: “Since 1999, Goldman has given about a billion dollars total to charity, according to Joseph Snodgrass, a spokesman for the firm.”

[MadAppraiser]

God's work instituted by American banking and Wall Street interests has been terribly expensive for mainstream America! I could be terribly wrong. Somewhere, in the New Testament, I remember Jesus Christ bouncing moneychangers out of temple!!! America is expending $1,000,000,000's and untold human lives largely based upon theological and political distortion in The Middle East Theatre of War!

[robertml1]

is that real estate appraiser? as in partook in the real estate fiasco? made some money, perhaps? let he without sin cast the first stone.

[MadAppraiser]

A real estate broker once remarked to me, “You are the first appraiser I would use for a property I was buying, but the last appraiser I would select for a property I was selling. You do not miss anything in the inspection process.” A mortgage lender once told me, “I review 100’s of appraisal reports per week, but I would know your appraisal report as soon as it crossed my desk because of the thoroughness, and comment section detail. There is no question as to the market value of the property.”

[dewisri]

Why don't you post Arianna's tax returns so we can decided whether she's contributed to charity enough.

[Agent420]

Good idea, lets see if she lives in a glass house.

[autumncolors]

{{Legendary trading, give me a break. High Frequency trading, manipulating markets, and the wonderful safe risk free feeling of knowing nothing can go wrong for a Master of the Universe backstopped by taxpayers. They are supposed to be a bank now yet they have no depositors. They are a hedgefund supported by us poor slobs. Nice gig.}]

The gig is making money from money which the banks seem to be doing instead of creating jobs, products or services.

[bgofca]

oh yeah, he's doing gods work and his god is money.

[Harvee Wallbanger]

$200 million is a pittance to GS. With just the misery and devastation they have caused in the past year, they should minimally be giving away 5 or 10 times that amount to help feed the people they've put out onto the street.

[american-dolt]

I'm sure it benefits Goldman-Sucks in the end.

[amaycatbaker]

Well, let the Bush tax cuts stay with a rider stating a company/person can't have that tax break without PROOF of creating jobs, and I mean not on paper but actually people working.

They give to charity for the tax break so why not create incentive!

[TrooAmerican]

No one needs to look at them. its pointless.
GS is a criminal enterprise of the largest in US history and Every top officer thats ever served in that company and its boards need to have all assets seized and put in leg irons with the general population if a Fed Max security prison.

[robertml1]

right.

[autumncolors]

{{You don't want to stop entrepreneurial behavior. People who make things and provide jobs should be enticed to take risk...not the Wall Street tools. $550,000 is not that much in today's world....n­ot if it is made by a small manufacturer who put his personal savings and time on the line...and no where near the tens of millions that a good chunk of Wall Street and their hedge fund friends are taking home.}]

good point.
There should be reasonable expectations. $550,000 is not a lot of money these days.

couple of millions or 5 millions is a place to start, imo.