Goldman Sachs – A Force For Good

49
337

Wall Street investment banks have often been criticised for their role in creating the conditions that gave rise to the Great Financial Crisis of 2008. Dire allegations of market manipulation, insider dealing, asset misvaluation, excessive leverage and mis-selling of  mortgage derivatives etc. are even now still coming to light. Rightly or wrongly, for many, Wall Street has come to epitomize the greed, corruption, and nepotism that has so-harmed our economy and brought untold misery to millions.

One bank that can safely be excused from the list of culprits, however, is Goldman Sachs. Founded in 1869, this venerable bank is one of the few financial institutions that is able consistently to beat the market year after year. It does this by employing only the brightest and the best and investing in cutting-edge trading systems.

Greater even than its ability to generate wealth is Goldman Sach’s unrivaled record of public service. In the first place, it was the actions of former Goldman head, Hank Paulson, who literally saved the world economy from near-certain collapse. Acting as Secretary of the Treasury at a time of crisis when other leaders were bereft of ideas, Paulson recognised the urgent need to inject $700 billion into the banking system to buy troubled bank assets. We can only imagine the tremendous stress he must have encountered in trying to match counterparties and unwind some very complex deals. His selfless actions at a time of need are undoubtedly a major reason why we enjoy the incredible prosperity and near-full employment we do today.

Paulson is just one example of many Goldman Sachs alumni who have given up highly-paid positions at the bank in order to give public service. We think also of Robert Rubin, Jim Corzine, and Stephen Friedman. Their names are too many, but when other bank presidents prefer to luxuriate in their palatial offices, counting their multi-million dollar bonuses, Goldman Sachs alumni quietly roll up their shirtsleeves and give back to society in so many ways.

Doing God’s Work 24 hours a day, 7 days a week

Goldman Sachs’ benevolence is not limited to working in government, however. They are keen to share their wisdom and successful trading methods, for example, and happily provide their price forecasts and market outlook for free in the accredited media. More generally, Goldman Sachs’ website shows their proud record of acting as a global citizen, helping women, small businesses and the less fortunate achieve their dreams.

Of course, a bank that is so successful will always attract its own critics. Spiteful journalists like Matt Taibi of the Rolling Stone is infamous for referring to Goldman Sachs as a ‘vampire squid’ because its influence extends so far. Not only is this remark speciesist, it is also totally unfounded and hurtful to Goldman Sachs employees, many of whom are millennials.

Ultimately though, we must remember that Goldman Sachs was a huge supporter of and donor to the Clinton campaign. It therefore shares our progressive values. The bank loved and valued Hillary so much that it was willing to pay her a small fortune just to hear her speak. According to some reports, Hillary received north of $670,000 for making three speeches to Goldman employees. Although this seems a lot, Goldman clearly felt it was money well spent.

We can only hope that Goldman Sachs will maintain its record of public service for years to come and make us all richer as a result.

Leave a Reply

49 Comments on "Goldman Sachs – A Force For Good"

Notify of
avatar
Photo and Image Files
 
 
 
Audio and Video Files
 
 
 
Other File Types
 
 
 
jfb
jfb

I’m not sure if your initial attack on “Wall Street investment banks” at the begining of the article is so justified. Bush, the alt-right seem to be completely absolved. There is even a strong possibility that a foreign country whose name starts wirh “R” and finishes with a “A” was involved but I have a memory blank and can’t remember for the moment.

Otherwise great article, for the number of preferential loans and the financial help that Goldman Sachs has granted to Greece and their humanitarian role in the Greek crisis they should get a nobel peace prize

Pbier
Pbier

Your feedback is appreciated and I have toned down the beginning. After all, all banks pretty much supported Hillary. It took a special bank to help out Greece in its time of greatest need, as you say.

jfb
jfb

Wow, thanks a lot! Bankers are just 0.01% of the population and they could be considered as a minority who shouldn’t be triggered too much indeed

trav777

Hmm…GS and Hank Paulson were only doing good things after Obama came to power. They are really only a force for good for the next 9 days or so. There are several of their former officers in TRUMP’s inner circle it seems, so I question how much good they can do going forward.

CLEARLY they had a come to Allah moment where they supported Obama and progressives like Hillary, but they also supported Busch.

So I am on the fence on them. Russian hacking probably explains a lot of their seeming to go whichever way the political winds blow, and trying to ingratiate themselves with whomever is presently in power.

MillionDollarBonus

The accredited media is rightfully slaying Trump for filling his administration with ex-financiers – how corrupt! Obama on the other hand, received no criticism for doing the same, and receiving record amounts of campaign financing from them, because unlike Trump, he is a progressive and member of an oppressed minority group who is therefore incorruptible.

drb6
drb6

I think it really is simple. At times when GS and other banks support progressives such as Hillary or Obama, they are doing Allah’s work. When they support Bush or Trump, they should be chastised.

MillionDollarBonus

Yes! Goldman Sachs helped Greeks borrow money when nobody would lend to them due to their “credit rating”. Thanks to Goldman, they were able to offer their citizens fair pay and fair vacation time! Another example of their humanitarian charity work!

Pine
Pine

I need clarification what make some like Bush an alt right? Can you please define that? Nobel price to a bunch of white racists? I think not. What they did is not out of kindness, but PR. Everyone hated them so now they helped Greece and what not. Why do people fall for this old smoke and mirror tricks.

I am not buying it!

Pine
Pine

I need clarification what make some like Bush an alt right? Can you please define that? Nobel price to a bunch of white racists? I think not. What they did is not out of kindness, but PR. Everyone hated them so now they helped Greece and what not. Why do people fall for this old smoke and mirror tricks.

I am not buying it!

Black Lives Matter
Black Lives Matter

Lloyd Blankfein is definitely one of the good guys. We need more progressives like him.

Pbier
Pbier

If you had to swap your soul with anyone to ensure eternal return etc., it would have to be with Lloyd.

MillionDollarBonus

Well said Pbier! Just look at how many “community outreach” programs Goldman Sachs and other top tier investment banks have! If you visit the websites of these banks you will see nothing but charity programs and diversity quotas, but the alt right would have us believe that they are evil puppet masters trying to enslave the free world! Let’s face it, criticism of Goldman Sachs is nothing but thinly veiled antisemitism! Pure and simple.

jfb
jfb

We have just a sample here: http://www.goldmansachs.com/citizenship/
Those black kids on the picture are so cute and happy, only a heartless and cruel person would want to interrupt this happy moment.

Sierra
Sierra

They have a great platform. Maybe GS should run for president.

John Corzine
John Corzine

Such timeless wisdom. Visionaries all! That is why I frequent this site as do all of the ministerial and financial experts I know who are indeed the oppressed minority. Keep fighting the good fight. We appreciate your continued patronage.

What many fail to realize is the high cost burden of leadership and governance with relatively low remuneration not to mention gratitude for our heartfelt efforts.

Banking and high finance take expertise and adroit diplomacy. We sacrifice our invaluable time for what seems to us, a number of deplorable discontents. Useless eaters who think what they call value added work is actually productivity.

I bid you well Accredited Times, I am off to Davos to the Godly Owners Awards.

Pine
Pine

Golden Sachs is one of the corrupted financial institution that Bush was making his bed with. If I am not mistaken also Hillary was making her bed with Golden Sachs.

Golden Sachs is owned and operated by the White Racist Privileged Christians that are taking our money.

#antisemitic

Pbier
Pbier

…Ok, I’ll take a deep breath, and reply

GS is as Jewish as they come, founded as it was by bankers of German Jewish descent and transformed into a major player by a Mr. Sidney Weinberg. Hmm…Weinberg is hardly a Christian name. Jews are right at the top of the critical race theory chart of oppressed people so, frankly, they are untouchables.

Hillary is also above reproach, being a progressive and a woman, who wanted to give so much back to the country.

Goldman Sachs corrupt? Hardly!

jfb
jfb

Well, since he wrote ‘Golden Sachs’ perhaps he wa refering to another group of Racist Privileged Christian bankers?

Cazzoinmano
Cazzoinmano

Look up how our fellow liberals disliked the beloved Golden Sachs.

So, I am a minority as well.

MillionDollarBonus

Goldman Sachs is run by Jews you disgusting antisemitic bigot! You’re just jealous because they’re better at making money than you. Why don’t you just admit you’re a neo Nazi??

Cazzoinmano
Cazzoinmano

I am Puerto Rican so I cannot be a neo nazi as you claim. You are the disgusting antisemitic bigot. You are trying to bully me because of my ethic background. I don’t think so, not today you are going to bully me.

My comments has nothing to do with antisemitic I was talking about the company it self.

drb6
drb6

There is a sufficient amount of Hispanic Nazis in US. For example, in Texas nearly 30% of Hispanics voted for Trump, proving that they are Nazi supporters.

Black Lives Matter
Black Lives Matter

How can you write something so vile with all of those African-American children performing in front of the “Goldman Sachs Gives” logo??? Did you even think about the children when you wrote that???

jfb
jfb

Correct BLM, whoever attacks Goldman Sachs attack those children.

Pbier
Pbier

Who would want to harm these innocent kids? They are sick, sick!

Cazzoinmano
Cazzoinmano

Please don’t say that. You sound slightly immature.

Cazzoinmano
Cazzoinmano

Have you heard of the smoke and mirrors?

Pbier
Pbier

Is that a pub in London?

Cazzoinmano
Cazzoinmano

Exuse me? Antisemitic? Look at the accredited main stream media how they always said negative things. Check bloggers and comments that many liberals spewed about Golden Sachs.

#post-truth

Cazzoinmano
Cazzoinmano

The accredited journalists would not just label someone post truth without doing their homework. Just saying.

European American
European American

This site is incredible. Authors are real dadaistic comedians,i.e. Million Dollar and Pbier have taken their comical writing skills to the edges of irrationality and blurred the dividing line between reality and imagination.

This entire site one big prank, a brilliant piece of satire meant to poke fun at the social justice warriors among us and their entitled arrogance combined with lack of anything resembling a work ethic. MDB and Pbier are modern day Andy Kaufmans…brilliant…thank you. Please donate, to keep this truly unique, refreshing site, up and running.

MillionDollarBonus

Just when I update the theme of the AT to match our journalistic professionalism, I once again have people accusing us of satire!! Why would anyone think this site is anything but the highest standard of journalism?? Every article here is written from a mainstream progressive perspective, by top accredited journalists with degrees from accredited universities. I personally have an advanced degree in Critical Race Theory from Portland Community College, and I didn’t spend four years getting that degree to have my writing smeared as satire! We are REAL progressives, EE – you can take that to the bank!

jfb
jfb

Can’t we drone this guy?

European American
European American

I gave you two thumbs up, jfb…You’re good, too! LOL!!!!

jfb
jfb

If you want to read a satire go to zerohedge, a good political satire of the right wing most extremist views. Most people who post on their comment section are educated liberals who poke fun of their ridiculous articles but some of them are so stupid that they take it at their face value and even try to convince us. When you see such right wing lunatics who babble their nonsenses you feel like a liberal intellectual giant who would be quashing an ant. I suspect that you are one of them btw.

European American
European American

Another 2 thumbs up, jfb. Keep me guessing… ;-0

European American
European American

jfb aka TYLER? Is that you Tyler? I bet it is. Hot damn! Gotcha. Our little secret.

European American
European American

+1000
I gave you a thumbs up, MDB, for knowing how to consistently keep me in stitches…you guys..ROTFLOL!!! You guys should infiltrate the WP and NYT and take it nation wide…really! You could pull it off.

Cazzoinmano
Cazzoinmano

I agree with you but the attacks against people need to stop if they have different opinions.

Progressive = respect opinions of others.

#neoliberalism

drb6
drb6

Progressive = respect for ACCREDITED opinions. Do you respect the opinion of Hitler?

Cazzoinmano
Cazzoinmano

If you put it this way, no I do not.

Cazzoinmano
Cazzoinmano

A minority that has an opinion now is labeled neoliberalism. I am disappointed and I thought AT was a truly progressive. Okay, I understand how this works. I will be a follower instead.

drb6
drb6

MDB – perhaps you can add a line somewhere below Accredited Times logo saying something like Hard-hitting, Uncompromising, Serious Analysis by Fearless Journalists. Then trolls such as E*****n A*****n could be pointed to title showing that this is a SERIOUS website, and not some kind of joke.

Frankly, I am sick and tired of and triggered by these trolls that have started infesting Accredited times.

trav777

then what you are saying is in other words, progressivism is indistinguishable from insanity or satire? I think, sir, you need to CHECK YOUR PRIVILEGE.

I have been here since DAY ONE and have ALWAYS represented the progressive view point to the hilt! I personally am offended by your suggestion!

Pbier
Pbier

I’m a late comer to the AT and desperate to be talent spotted by The Daily Kos so that I can feed the 25 Syrians living in our humble abode. I just report the facts and let others decide.

jfb
jfb

Your talent was spotted by more than one, on the other hand I’m not sure if MDB is paying you enough. New blood if the field of accredited journalism is certanly welcome in view of a crisis of confidence that seems to mysteriously strike some traditionnal media outlets. While CNN and the NYT are losing viewers, the AT is rising, at least it’s an encouraging sign.

Pbier
Pbier

The thought had crossed my mind that if he really had received a million dollar bonus, he could afford to share it around. Even $20k would provide enough rice to feed the 25 syrians for 3 years.

vdv
vdv

Goldman Sachs? The name is all wrong. Jon Stewart, in his “The Daily Show” parodied that as “Gold man sacs”. Gold is a barbaric relic out of tune with cashless economy. “Man” is sexist, insensitive. “Sacs”, well, do all valid genders and trans-species have sacs? Sounds sexist, and anti-trans-specieist. Good news, Trump is going to get all your favorite gold man sacs into his admin.

gdpbull
gdpbull

Sorry, but I have to alert you that the caption under Blankfein’s picture is anti-Semitic. The word G_d was spelled out completely. Very offensive.

wpDiscuz