http://www.timesonline.co.uk/tol/news/world/us_and_americas/article6907681.ece?token=null&offset=36&page=4
[Goldman Sachs CEO Blankfein] is, he says, just a banker "doing God's work"
http://www.nytimes.com/2009/11/06/nyregion/06flu.html?_r=1&scp=1&sq=officials%20defend&st=cse
New York City health officials have distributed small amounts of the swine flu vaccine to some major New York companies, including Wall Street banks like Goldman Sachs..., even as shortages continue. ...Goldman received 200 [doses] ...according to the New York City Department of Health and Mental Hygiene . . .Many hospitals and pediatrician's offices are waiting to get their supplies.
Goldman Sachs Bribed Senate to Pass Bailout Bill (great 5 minute video) *********
http://www.youtube.com/watch?v=Ek7zc0lJxbM
http://en.wikipedia.org/wiki/Goldman_Sachs
...acts as a financial advisor and money manager for corporations, governments
, and wealthy families around the world. ...It is a primary dealer in the U.S. Treasury securities market
. . .. ...Former Goldman Sachs employees Robert Rubin and Henry Paulson served as United States Secretary of the Treasury after leaving the firm; Rubin under President Clinton and Paulson under George W. Bush. …........On December 4, 1928, it launched the Goldman Sachs Trading Corp. a closed-end fund with characteristics similar to that of a Ponzi scheme. .. The fund failed as a result of the Stock Market Crash of 1929 . . . . ...in 1999 ..18% was held by retired Goldman partners and two longtime investors, Sumitomo Bank Ltd.and......It also advised on a debt offering for the Government of China and the first electronic offering for the World Bank . . . .. . ..The firm is also heavily involved in energy trading, including the oil speculation market, on both a principal and agent basis. .. .In May 2006, Henry Paulson left the firm to serve as U.S. Treasury Secretary. . . Former Goldman employees have headed the New York Stock Exchange, the World Bank, the U.S. Treasury Department, the White House staff, and firms such as Citigroup and Merrill Lynch. ...Goldman also received $ 10 billion of capital from the U.S. government in October 2008, under the Troubled Asset Relief Program . . . .. ….In March 2009 it was reported that in 2008, Goldman Sachs, alongside other major US and international financial institutions, had received billions of dollars during the unwind of credit default swap contracts purchased from AIG, including $ 12.9bn from funds provided by the US Federal Reserve to bail out AIG. . . .Goldman was among ten large financial institutions that the Treasury allowed to pay back their TARP emergency capital infusions, though this was after the firm benefited from the FDIC'S Temporary Liquidity Guarantee Program when it issued $ 28 billion in debt to raise capital....As of 2006, Goldman Sachs employed 23,467 people worldwide. ...It was reported that the average total compensation per employee in 2006 was US$ 622,000. However, this number represents the arithmetic mean of total compensation and is highly skewed upwards as several hundred of the top earners command the majority of the Bonus Pools, leaving the median that most employees earn well below this number. ..The current Chief Executive Officer ... Lloyd C. ..Blankfein earned a $ 67.9 million bonus in his first year. ...In mergers and acquisitions, it gained fame historically by advising clients on how to avoid hostile takeovers, moves generally viewed as unfriendly to shareholders of targeted companies. Goldman Sachs, for a long time during the 1980s, was the only major investment bank with a strict policy against helping to initiate a hostile takeover, which increased Goldman's reputation immensely among sitting management teams at the time. ...Former Treasury Secretary Hank Paulson was a former CEO of Goldman Sachs. The current chief economic adviser to President Obama, Lawrence Summers, was noted for receiving $ 5.2 million from hedge fund D.E. Shaw
in 2008 and speaking fees (ranging from $ 45 thousand to $ 135 thousand per event) from banks including Goldman Sachs, JPMorgan Chase, Citigroup, Lehman Brothers and Merrill Lynchat a time when he was expected to become the most influential financial official in the U.S. Government.....the selection of former Goldman Sachs lobbyist Mark Patterson as chief of staff to Treasury Secretary ….Goldman Sachs was the largest single recipient of this money [the AIG Bailout] (USD 12.9B), . . .The relationship with, and bailout of AIG wa
Answer by Roy
Neither, just too well connected.
Answer by beitbracha
scary big!
Orignal From: Is Goldman Sachs too big to fail, or just too big?
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