Goldman Sachs, lets have Recession part 2!

sock puppet

The_Valeyard wrote: »

Didn't their VP resign because of the morally bankrupt way the company was behaving?

a VP in an investment bank is a low-mid level manager. there would be thousands of "VPs" in goldman sachs.

SEPT 23 1989

They are not even charging for their services

brevity

brevity wrote: »

The vampire squid!

http://www.rollingstone.com/politics/news/the-great-american-bubble-machine-20100405

http://www.rollingstone.com/politics/news/the-vampire-squid-strikes-again-the-mega-banks-most-devious-scam-yet-20140212

Definitely worth a read.

Short video.

https://www.youtube.com/watch?v=QoUWgI-c9g4

dotsman

Kermit.de.frog wrote: »

https://www.youtube.com/watch?v=aC19fEqR5bA

What an idiot. I would not listen to anything that fool has to say. Given that this video was uploaded in September 2011, I assume that his "expert" opinion was from that day or the preceding weeks/months. 3 and a half years later we can clearly see that absolutely nothing he predicted happened. In fact, the very opposite occurred. And he was so smug about it:) I hope he lost every cent he had investing in his doom-mongering prediction.

Son Of A Vidic

The_Valeyard wrote: »

Didn't their VP resign because of the morally bankrupt way the company was behaving?

Classic irony. A criminal lambasting other criminals for being criminal.

KomradeBishop

Zaph wrote: »

I was thinking exactly the same thing myself earlier. Its proper use would be to pay off loans or buy back bonds issued to finance the servicing of the loans. But €20bn sitting in the back pocket of a Minister for Finance with an election coming up is a worrying scenario. I can just see a big chunk of it p*ssed away instead of knocking a couple of years off the country's financial burden in an attempt to pull the wool over the eyes of the electorate. And the really scary thing is they'd probably succeed.

It's doubtful that it's worth €20bn, and any payoff is likely to be decades away - judging by Brian Lucey's article.

It's just election spin really.

That said, if we did get €20bn to hand, we would likely knock more years off the countries financial burden, by government spending it into the economy, than by paying down public debt with it:
The way to lessen our burden, is to grow the economy, so that GDP increases vs Debt. This is why you can't compare government spending to households: Government spending from a windfall, can actually grow the economy (and increase government income as a result, as well as lessen the effective burden of debt), which is not true of household spending.

strobe

There was that line in that TV show Breaking Bad, "You don't want a criminal lawyer, you want a criminal lawyer". They know their business, it has to be said.

S. Goodspeed

In the long long list of people/groups to blame for our banking mess Goldman Sachs and other non irish banks are pretty far down it. Fianna Fáil, the so called financial regulator and the boards of the Irish banks are all much more to blame.

20Cent

Predict Goldman Sachs will make a lot of money Irish taxpayer not so much.

JPF82

The_Valeyard wrote: »

Didn't their VP resign because of the morally bankrupt way the company was behaving?

F*ck that shower of c*nts. They were the ones telling us everything was grand last time.

A VP did resign, but he wasn't the VP for the whole company. I used to work for Goldman Sachs at a manager level and the VP was the level just above me. It would have been my next level until I changed career to become a teacher. A VP is a title for a sort of higher middle management level within many American firms. They like their job titles.

BoJack Horseman

20Cent wrote: »

Predict Goldman Sachs will make a lot of money Irish taxpayer not so much.

How?

Honestly, I'd like to know how.

When a company floats, the organisation facilitating it wets their beak, but its the company owners who benefit.

Are you saying the bulk of AIBs current €11bn valuation would go to GS for merely administering a flotation?

20Cent

BoJack Horseman wrote: »

How?

Honestly, I'd like to know how.

When a company floats, the organisation facilitating it wets their beak, but its the company owners who benefit.

Are you saying the bulk of AIBs current €11bn valuation would go to GS for merely administering a flotation?

The last Irish bank Goldman advised was Irish Nationwide.

Don't know how they'll do it but Sachs have a history of benefiting greatly from their advice and leaving a huge mess behind them.

Magico Gonzalez

That Rolling Stone "Vampire Squid" article is a must read. The global implications and the sheer scale of activity now legally in play for these banks is breathtaking. Amazing even.

I'd urge anyone looking at this thread to read it, try to digest it, be patient.

Mind blown.