Comments on: Goldman Sachs says sorry http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/ Now raising intellectual capital Sun, 08 Nov 2015 08:31:30 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Frank Fitton http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6803 Wed, 18 Nov 2009 15:56:23 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6803 The $500 million though is really a drop in the bucket compared to the kinds of numbers this company throws around. Its almost insulting in a way, but at this point we are the dog underneath the table and are willing to take whatever scrapes these people want to toss our way.

So are we supposed to get excited about this? I wouldn’t exactly say that, but I wouldn’t completely scoff at it either. They didn’t have any reason or were mandated to do this in anyway. Of course its a blatant PR move, but its not a bad one. Its really in their best interest too for as the economy soars so do their profits. Its really just a win win situation for everyone involved. Some more money possibly in line with the kind of money they’ve been paying out in bonuses would have been nice, but who are we really to complain.

I don’t really blame Goldman Sachs for the financial crisis, they were simply going about their businesses. Looking back at it, things could have been done differently of course, but hindsight is always 20-20. Its refreshing to see someone step up to the plate and admit that they didn’t handle things as well as they could have. Is it sincere? Probably not, but at this point its all we’re going to get and its better than nothing.

Check out my blog on the Goldman Sach’s penance offering at…. http://www.thedebtgazette.com/2009/11/go ldman-500-million-penance/

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By: Srini Thotakura http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6801 Wed, 18 Nov 2009 14:50:33 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6801 ‘To err is human, to forgive is divine’. Should we assume Goldman is playing both the roles. The fact is the bad memories still haunt the investors who lost money. Noboby is expecting sympathy, but expecting them to contribte something to revive the economy. Then may be, the apologies make sense.

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By: Benny Acosta http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6800 Wed, 18 Nov 2009 14:30:16 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6800 Selfishness and greed manifest anywhere they can get a foot hold. GS, our elected representatives, and their brainwashed slaves, value only money and profit.

As individual human beings we mean nothing to them. To say “sorry” is meaningless. Goldman should be making things right by way of action. But an apology is much cheaper and you don’t have to pay tax on it. It does nothing.

Perhaps they should simply let Mr Madoff go home as well. He at least was genuine in his regret. He admitted to everything he did. If “I’m sorry” is good enough for Goldman it should be enough for Madoff.

But somehow I don’t think that’s going to wash. The free market needs to be taken out of areas central to human development and life. Health, education, and housing should not be “for profit” endeavors. As long as the free market is contained to areas that are not central to human life it will be fine.

But once your health, the quality of your mind, and your home become commodities, your life is worth nothing except the paper in your wallet. You cease to be human. As it stands now, you are not a human being unless you qualify by having enough money. This is insanity and a slap in the face to ALL of us. Your plans and your wants mean nothing unless they serve the interests of those in power.

Wake up.

We are not animals. And we should not be content to live as such.

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By: tincup56 http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6796 Wed, 18 Nov 2009 13:00:21 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6796 Apologies do not cover what the Wall street banks have done to America. If the normal every day citizens of this country were to have committed fraud, do you think we would get off the hook just by apologizing?,,,,Nope ,it would be jail time ,,,so why are these people TOO BIG to live by the same rules, laws , and ethics they expect us to live by? The problem goes much deeper, Lobby dollars fuel the whole mess, the relationship between BOTH parties of congress and the lobby dollar is the root of ALL this countries problems,,,Bar None.

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By: Brown http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6792 Wed, 18 Nov 2009 08:23:53 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6792 GS stood by woodenly without offering a helping hand when Lehman Bros was drowned. GS now earns more than half of their profits from overseas becoz the name is stink in US. Sorry for what ? GS should spell out their sins one by one in detail.

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By: p fentononuis http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6786 Wed, 18 Nov 2009 04:40:02 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6786 Goldfarce and Sacless are whats wrong in this country. I am a isabled combat vet from Desert Storm living day to day while these aholes pile more amd more jack.. There are alot of us who are watching and waiting. Your days is coming

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By: vext http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6782 Wed, 18 Nov 2009 02:35:01 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6782 An apology is meaningless. These guys ripped off trillions, knowing they would be bailed out by the American People. Nope, they need to be thoroughly investigated and held accountable. Wholesale confiscation of their private assets and extended jail time should be rigorously, extensively and ruthlessly applied. I recommend revocation of their US citizenship and a speedy deportation to whatever country in the Middle East will accept them.

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By: Alex Great http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6779 Wed, 18 Nov 2009 00:56:11 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6779 Money is the language of finance. IF Mr. Blankfein is sorry the question remains: how much?

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By: Ozzy http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6777 Tue, 17 Nov 2009 23:58:41 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6777 I agree with StevenKs- “Felt just as keenly” is a brash generalization.
Try telling the people, of which I know several, that have lost large amounts of money into Goldman Sachs’ coffers. Long before the market trouble, Goldman has been losing people’s money hand over fist. Bad company, bad management, bad investors. Yet they still draw people.
I’m not there yet, but occasionally its tough to not blame the people losing their money for not researching properly. Dont worry, i’m not about to; not in this period of time. However, the thought occasionally crosses my mind, and it does leave just as quickly.

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By: StevenKs http://blogs.reuters.com/commentaries/2009/11/17/goldman-sachs-says-sorry/comment-page-1/#comment-6771 Tue, 17 Nov 2009 21:50:43 +0000 http://blogs.reuters.com/commentaries/?p=5333#comment-6771 “But these words from Blankfein will be felt just as keenly”

Sarcasm – right?

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