Comments on: The Goldman Sachs Foundation’s torrid 2008 http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: fran http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/comment-page-1/#comment-9358 Mon, 30 Nov 2009 14:58:13 +0000 http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/#comment-9358 I have a solution to the national deficit. There are about 75000 entities, foundations, tax free in our nation. It is time for a flat tax of 10% on assets in 2010 and a tax on any income for 2 years of 15% no matter what or who the foundation is. We would solve the massive ddeficit problem if the hidden wealth of our country was tapped instead of the guy making 30000 dollars a year. What do you all think?

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By: Matt http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/comment-page-1/#comment-8720 Fri, 13 Nov 2009 16:05:53 +0000 http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/#comment-8720 Once the money’s in the foundation, it’s not “theirs” any more. It’s public money, for which the foundation receives a tax-exemption.

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By: Felix Salmon http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/comment-page-1/#comment-8719 Fri, 13 Nov 2009 15:39:28 +0000 http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/#comment-8719 Mark, if people on the Street regularly forward around emails making fun of my posts, that’s surely a sign that I’ve made it, no? And if you get one, do forward it to me!

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By: jpe http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/comment-page-1/#comment-8717 Fri, 13 Nov 2009 14:57:46 +0000 http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/#comment-8717 re: investments: big loss, but better than the S&P 500 (and as foundations begin to release their financials and 990s-PF, this kind of decrease will almost certainly be commonplace).@ Peter: that kind of relationship is specifically permitted by the tax code and is OK provided the fees are reasonable.

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By: Mark http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/comment-page-1/#comment-8716 Fri, 13 Nov 2009 13:36:53 +0000 http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/#comment-8716 It’s the journalists who never cease to amaze me. Goldman is under no obligation to have a charitable fund. It’s their f-ing money, and if they decide to establish a charitable fund, great. They didn’t have to. The fact that Felix is criticizing what Goldman’s charitable fund decided to do with its own money is ridiculous. Who the hell is he to say that the Foundation for Teaching Economics isn’t a worth cause?Seriously, Reuters needs to hire a blogger who isn’t just interested in being part of the cool crowd in the blogosphere. It’s getting embarrassing when people on the Street regularly forward around emails making fun of Salmon’s posts.

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By: Peter http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/comment-page-1/#comment-8706 Fri, 13 Nov 2009 04:33:46 +0000 http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/#comment-8706 Goldman Sachs never ceases to amaze me. Regarding this story: if behavior isn’t illegal, it should be. It’s a tremendous conflict of interest to have a bank manage its own charitable foundation and use it as a ‘counterparty’ (i.e., sucker) during times of economic distress. That relationship should be banned forever. Also, if Goldman had their MD running a trading desk as well as this charitable foundation at the same time, she should be prosecuted for violating her fiduciary duty to the foundation. Perhaps a public trial and tough sentence would discourage these shenanigans in the future….

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By: The Real Deal http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/comment-page-1/#comment-8701 Fri, 13 Nov 2009 02:22:50 +0000 http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/#comment-8701 Strange. I thought Goldman Sachs IS God. Well, Master of the Universe. But let’s not argue over semantics.I will start worshiping Goldman Sachs when they can turn US Federal Reserve Notes into Gold. They call themselves ‘Gold’man right?

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By: trying to make sense of it http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/comment-page-1/#comment-8684 Thu, 12 Nov 2009 22:16:53 +0000 http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-sachs-foundations-torrid-2008/#comment-8684 does this means that Goldman is using a tax-exempt vehicle as a tool for lobbying and/or pleasing their clients, by investing in their charities and generating asset management fees at their own company?

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