Comments on: Beware Goldman’s “dutiful” TARP repayment http://blogs.reuters.com/great-debate/2009/04/15/beware-goldmans-dutiful-tarp-repayment/ Thu, 21 Jul 2016 07:57:19 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Big Al http://blogs.reuters.com/great-debate/2009/04/15/beware-goldmans-dutiful-tarp-repayment/#comment-16634 Sat, 13 Jun 2009 23:24:23 +0000 http://blogs.reuters.com/great-debate/?p=3004#comment-16634 I loathe and hold Goldman in deep contempt as much as anyone for the damage they have done and will do the commonweal, I assure you. I think, however, that in Machiavellian terms one has to admire them and acknowledge their skill. Their interpenetration with government is as widely noted extensive and they have used it very much to their advantage. The simple fact is that democracy has proven an infinitely less capable player in the game of power and influence than has a financial oligarchy. Is it really so surprising? Unfortunate from a populist perspective, yes. Surprising? Not really. The sharpest knives, most skillfully wielded, generally win the fight. Goldman is the sharpest knives. If you want to see their power limited whining and complaints mean less than nothing. Find another way.

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By: Dick Bowen http://blogs.reuters.com/great-debate/2009/04/15/beware-goldmans-dutiful-tarp-repayment/#comment-13154 Tue, 21 Apr 2009 05:18:55 +0000 http://blogs.reuters.com/great-debate/?p=3004#comment-13154 Financial regulators and congress could solve two severe problems. Eliminate the present FICA cutoff of $102,000. and tax 100% of all remuneration at the time it is paid. This solves the long term solvency problem of Social Security.

Charge a progressive flat tax on 100% on all remuneration at the time it is paid. The only allowable deductions should be(1)one single family home, interest, edcuational and medical expenses.

Prohibit interlocking boards. Many of the outrageous pay packages are the result of interlocking boards that make up the compensation committees.. “I’ll scratch your back if you scratch mine” is their motto.

Companies should pay reasonable salaries with bonuses paid on performance averaged over a period of years. It is too easy to manipulate the books on how bonuses are paid in many of these companies. This is white collar theft from our 401k’s and retirement plans

Any compensation package that exceeds twenty five times the average salary of all employees in any company must be approved by a two thirds vote of all outstanding common stock.

White collar theft should be prosecuted as a first degree felony and given the same maximum sentences as any armed robber would get. The robber barons of wall street should be treated as what they are, thieves.
Dick Bowen
El Paso

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By: David Eisbach http://blogs.reuters.com/great-debate/2009/04/15/beware-goldmans-dutiful-tarp-repayment/#comment-13150 Tue, 21 Apr 2009 03:14:22 +0000 http://blogs.reuters.com/great-debate/?p=3004#comment-13150 Goldman Sachs enty into sub-prime loans bundled in Collateral Debt Obligations, CDOs,and subsequently hedged by buying, basically an unregulated insurance device, the Credit Default Swap,CDS, sold by AIG. Our bail-out money to AIG went directly to those like Goldman to pay off a lousey investment based on greed. They should pay that back before paying off TARP.

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By: Rich http://blogs.reuters.com/great-debate/2009/04/15/beware-goldmans-dutiful-tarp-repayment/#comment-13134 Mon, 20 Apr 2009 18:00:47 +0000 http://blogs.reuters.com/great-debate/?p=3004#comment-13134 Goldman Sachs esentialy runs the Treasury, The Federal Reserve and the US government. This company is a cancer on the world economy. They got paid twice for their losses excuse me if im not happy they want to pay their ill gotten money back. Deuche bank knew in 2004 CDS market was going to implode. This whole thing stinks to high heaven. They should be in jail not counting bonuses.

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By: shane http://blogs.reuters.com/great-debate/2009/04/15/beware-goldmans-dutiful-tarp-repayment/#comment-13065 Fri, 17 Apr 2009 19:25:50 +0000 http://blogs.reuters.com/great-debate/?p=3004#comment-13065 they shouldn’t of gotten the money in the first place,afterall warren buffett bailed them out with 5 Billion. If congress wants to stimulate the economy, give us a 700 billion bailout instead of wall street. the probelm is the jobs left pay only a small fraction of what the jobs lost paid leaving people with less purchasing power which has caused a cascade effect on the economy in a negitive way

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By: Brian Bigelow http://blogs.reuters.com/great-debate/2009/04/15/beware-goldmans-dutiful-tarp-repayment/#comment-12987 Thu, 16 Apr 2009 05:23:21 +0000 http://blogs.reuters.com/great-debate/?p=3004#comment-12987 It’s probably a good idea for Goldman’s to repay the TARP funds. Just imagine the positive publicity that they will get out of it especially with public sentiment turning strongly against any kind of bailouts now.

Unfortunately, one side effect of Goldman’s paying back the TARP money is that there won’t be quite as much oversight as there should be. Personally, if there had been more oversight over activities we wouldn’t have had as much of a problem as we’re having now. Come to think, lack of oversight was a major contributing factor in the last 3 depressions.

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By: Gerald Greene http://blogs.reuters.com/great-debate/2009/04/15/beware-goldmans-dutiful-tarp-repayment/#comment-12980 Thu, 16 Apr 2009 02:18:26 +0000 http://blogs.reuters.com/great-debate/?p=3004#comment-12980 The word “scoundrel” used in the first sentence by Jonathan Ford is spot on in regard to Goldman except it needs to be plural. Goldman’s influence on the US government is breathtaking as well as frightening.

In Goldman’s case the term “too big to fail” should be modified to “too big to continue”. Goldman should be broken up so that at the very least its research and trading departments act independently to serve clients first rather than its proprietary trading operations. If ever there was a company with excessive greed and no morals as its standard mode of operation it has to be Goldman.

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