Retaining the Very Best

[GRG55]

Re: Retaining the Very Best

Apparently when one is doing "God's work" one should expect to be handsomely compensated...unless one is a priest or a nun, I suppose...:p

Goldman Sachs boss: 'bankers do God's work'

Lloyd Blankfein, the chairman and chief executive, of Goldman Sachs, has claimed that bankers do "God's work".

Mr Blankfein, the son of a Brooklyn postal worker, believes that banks serve a "social purpose" and argues that the return of big profits and bonuses should be welcomed as proof the economy is recovering.

Speaking to The Sunday Times, he argued: "We're very important. We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. We have a social purpose."

While he says he understands people are angry at banker's actions, he continued: "Everybody should be happy...

This item almost ended up in "You Can't Make This Stuff Up".

But in reality, truth is stranger than fiction...because fiction has to make sense...

Goldman, Buffett Said to Plan Small-Business Help

Nov. 17 (Bloomberg) -- Goldman Sachs Group Inc., under fire in Washington for setting aside billions of dollars for bonuses a year after getting a taxpayer bailout, is preparing to team up with Warren Buffett to provide assistance to small businesses, said people familiar with the matter.

The charitable effort, which may be announced as soon as today, coincides with one of the Obama administration’s top economic priorities: spurring hiring at smaller companies. The initiative would aim to provide assistance -- ranging from counseling to obtaining funding -- to 10,000 U.S. businesses, according to the people, who declined to be identified before the program is announced. Buffett’s Berkshire Hathaway Inc. is the largest shareholder in New York-based Goldman Sachs...

And now the really, really good part...:rolleyes:

Blankfein, speaking at a conference today sponsored by Directorship magazine, apologized for Goldman Sachs’s role in some of the activities that led to the financial crisis, without providing specifics.

“We participated in things that were clearly wrong and we have reason to regret and we apologize for them,” Blankfein said at the New York event. The magazine named him its CEO of the year.

So Kiddies, the moral of the story is...

[Chomsky]

Re: Retaining the Very Best

This item almost ended up in "You Can't Make This Stuff Up".

But in reality, truth is stranger than fiction...because fiction has to make sense...

Goldman, Buffett Said to Plan Small-Business Help

Nov. 17 (Bloomberg) -- Goldman Sachs Group Inc., under fire in Washington for setting aside billions of dollars for bonuses a year after getting a taxpayer bailout, is preparing to team up with Warren Buffett to provide assistance to small businesses, said people familiar with the matter.

The charitable effort, which may be announced as soon as today, coincides with one of the Obama administration’s top economic priorities: spurring hiring at smaller companies. The initiative would aim to provide assistance -- ranging from counseling to obtaining funding -- to 10,000 U.S. businesses, according to the people, who declined to be identified before the program is announced. Buffett’s Berkshire Hathaway Inc. is the largest shareholder in New York-based Goldman Sachs...

And now the really, really good part...:rolleyes:

Blankfein, speaking at a conference today sponsored by Directorship magazine, apologized for Goldman Sachs’s role in some of the activities that led to the financial crisis, without providing specifics.

“We participated in things that were clearly wrong and we have reason to regret and we apologize for them,” Blankfein said at the New York event. The magazine named him its CEO of the year.

So Kiddies, the moral of the story is...

These are just kickbacks from Buffett and Goldman's skim, as if that will make everything ok.