Goldman Sachs
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- kona0
wait drbombay is here?!? wtf dude. i thought you'd be combing the psb 2 thread grabbing the meta data from all suspected 'trolls' submitted jpgs and cross-referencing them one at a time with the other 500+ entries to see if anything comes up. i figured that would tie you up for like a week or two. well shit. nice to see you back i guess.
;)- fucker :DDrBombay
- How do you know he isn't?TheBlueOne
- lolkona
- lukus_W0
As much as I hate the idea of corporations taking over the world, I think the Rolling Stone article was a little bit over-the-top. It's almost as if the editor asked the features writer to sprinkle in a little more hyperbole; cos finance is like, such a dull subject.
One of the things that I loved about the Wire, was the way that it illustrated how large organisations like governments can function; moving and morphing like a headless beast. It showed how while there are corrupt people with dubious motives -> it's almost impossible to have a central control figure who plots, schemes and ultimately decides the gov. corporations fate. The moves that various players are forced to choose between, snowball and create results and paybacks which no-one expected on the macro level.
I think the same is probably true of an organisation like GS. While I'd love to believe the conspiracy theories - I'm ssure the truth is far less enticing. That's not to say that GS - on balance - doesn't have an overly negative effect on society and the world at large.
The main problem with articles, like the one linked; is that they try to personify the corporation or company in question as if it's a single entity. Of course this is going to be problematic, because - like nations - we're actually looking at a system .. and systems are notoriously difficult to predict and describe.
Too bit to fail does sum the situation up. These mega-banks aren't going anywhere; probably ever.
And this for me, is the most depressing part of the story - the psychological effect. It definitely feels to me that we're powerless and that there's fuck all we can do. And this sense of powerlessness is likely to be pretty pervasive.
- TheBlueOne0
Rolling Stone is actually one of the few independent publications out there beholden to no corporate master. I think their journalism is usually pretty damn good on issues outside of the music industry. Sure, it has a bias, but it's not a mouthpiece publication like say "Time" is...
- +1 I remember Time's 2004 Man of the Year was Bush.kgvs72
- MrDinky0
Thats why Bloomberg is good.
- Just facts ma'amMrDinky
- Yeah, I like Bloomberg.TheBlueOne
- Mostly decent Mayor too. :)TheBlueOne
- Great mayorMrDinky
- Very Good Mayor. :)TheBlueOne
- But Bloomberg is totally in on the conspiracy! LOLboobs
- morilla0
I also think all of you here should realize that TBO knows what the fuck he is talking about. I think a lot more then some of you realize.
- TheBlueOne0
I am hardly a conspiracy theorist. I generally don't believe in conspiracy theories, at least not ones on economic industry wide scales. The problem is in how the system itself operates and who stays quiet because rocking the boat would fuck up their piece of the pie. But the relationship between GS and the Fed is far, far too cozy and should be shook up. This is where I give Obama an F. Change? Not.
- MrDinky0
DrB Why dont you tell me rather then just telling me to read? I read it. This is not new. It goes back years and years. This has been happening for a long time.
So tell me, aside from what you just read, what do you know about how things work in finance?
- TheBlueOne0
Finance is one of those industries where there's how things work, and then there's how things work. If you know what I'm saying.
I understand Dinky's POV on this, and he's right as well for mostly debunking the conspiracy angle, and his matter-of-fact statements of how things operate. The problem IMHO is how matter-of-fact things have become about things in the industry that are actually, or would be considered, rank corruption say a few decades back.
- "but TBO why don't you tell me what you know about finance and how it works?"DrBombay
- I blame Nixon. He started all this deregulation.MrDinky
- I think it's been a steady drip-drip pushback from the industry itself for decades.TheBlueOne
- Letting gold float was the first mistake.MrDinky
- We might differ about that, but I concede the point.TheBlueOne
- MrDinky0
DrB. Let me get specific. Why is GS doing for profit? How is it broken down? What kind of vehicles they specialize in? From their product lines, how are they corrupt?
- They used to only be in the long game and have switched to this short game bullshit that inflates bubbles until they pop.DrBombay
- Trading corruptly in oil futures, falsely inflating gas prices for profit etc.DrBombay
- Yah you dont know finance. Just headlines.MrDinky
- Explain it to me then.DrBombay
- Explain how they didn't manipulate gas prices. In detail...DrBombay
- Hmm did I say they didnt? Of course they did.MrDinky
- And somehow that isn't "broken down"? Because you think if you get in on it...DrBombay
- it is good for you and fuck everyone else. This is why you are a fucking sycophant.DrBombay
- ukit0
Forget finance and take a look at what is going on with health care if you want to attack a problem that is upcoming.
- They're linked. Health Care industry has to show profit you know...TheBlueOne
- And where are they gonna get the money from?MrDinky
- DrBombay0
Dinky, do you know what the term "sycophant" means?
- MrDinky0
No tell me.
- MrDinky0
And somehow that isn't "broken down"? Because you think if you get in on it...
– DrBombay7/8
it is good for you and fuck everyone else. This is why you are a fucking sycophant.
– DrBombayWelcome to capitalism.
- There is that smug attitude I was speaking about earlier.DrBombay
- And I am supposed be humble because?MrDinky
- I am just saying like as is.MrDinky
- I don't understand your broken English.DrBombay
- Awww you are getting personal because you know nothing. How cute!MrDinky
- Not really, Your typed English is horrible maybe a reason for you to be humble.DrBombay
- You defend corruption and say it isn't corrupt. Manipulating markets is unethical and illegal but you defend it.DrBombay
- That's it? Sad really. Come up with better and get back to me.MrDinky
- I understand all too well how it works. Still doesn't change the fact that you would do ANYTHING for money. You soulless piece of shit.DrBombay
- soulless piece of shit.DrBombay
- I'm not trying to impress you, you would be sucking cock if it paid well.DrBombay
- TheBlueOne0
Always a fun read. Kinda like the Drudge report for the finance industry. Take everything with a grain of salt, but still one of the most emailed sites in the industry, as in "Oh, shit Joe..take a look at this..."
http://zerohedge.blogspot.com/
Also like:
http://www.nakedcapitalism.com
http://www.calculatedriskblog.co…
and
http://www.calculatedriskblog.co…
- raf0
I guess very few of you read the article to the end where it tells how Obama administration pushes global warming legislation that will give GS hundreds of billions of revenue in carbon offsets. Al Gore's new company which will benefit directly is named there.
- raf0
Another thing you don't know about GS.
They juggle East European currencies, especially Polish Zloty (PLN), they admit to have been doing so in press releases. At the same time they have Polish ex-Prime Minister on payroll in their London office. The very guy who has knowledge of classified government procedures (knows when government intervenes to stabilize currency) and direct connections to govt institutions.- The ex-PM's pre-govt job: physics schoolteacher. Now he's a financial analyst.raf
- MrDinky0
Dont forget how GS sends out research papers from some obscure high titled analysts before the crash saying that there will be crash.
- GeorgesII0
this is all a conspiracy theory,
you tinfoil hat wearing people should start thinking, there's no cabal of bankers, there's no plan for a new world order and 9/11 was done by highly trained team of terrorist armed with box cutters.
nothing to see here, move along!
- TheBlueOne0
Abstract assumption I operate under: Things such as markets, legal systems and political organizations are simply human inventions. They are all tools that serve a purpose. They are akin to say hammers, screwdrivers, iPhones and deodorant. There are those that would have you believe that such things fall from the sky fully formed and that they do what they do because they are obeying some sort of sacrosanct natural order. People making these arguments tend to have their interests tied to how those systems are currently behaving. They also tend to create their own language and use it to create ambiguity for what is going on. But they are human inventions and can and should be changed, modified, and adapted to better fit changing fitness landscapes for the greater good, the same way other human tools are. Of course, there will be various amounts of friction in seeking those changes, especially true with things that involve money and power, but the first mistake is not seeing such things as human inventions in the first place and thus malleable by their very nature.
- so how come you believe in global warming, or should I call it climate change.GeorgesII
- Please stop talking to me. You annoy me as much as GetRefresh.TheBlueOne