Wednesday, January 13, 2010

Being Goldman Sachs XV

Not knowing the background of Goldman Sachs Chairman and CEO, Lloyd Blankfein, not that this would make much of a difference, I couldn't help but to think of him as I watched his testimony before the Financial Crisis Inquiry Commission as a cross between a used car salesman and a circus carnival leader. His appearance was as oily and buffoon-like in his constant effort of wining over an audience as opposed to soberly answering essential questions. Mr. Blankfein seems to think that we are stupid. Maybe we are. Goldman Sachs is flushed with cash that we gave them to the tune of double digit billions for betting on bogus securities leveraged to the hilt, as the American people hurt badly.

6 comments:

septembermom said...

Americans deserve so much more respect. I'm going to watch his testimony, or should I say "pitch"?

Judith Ellis said...

I could not agree more, Kelly. "Americans deserve so much more respect."

Meena said...

I recently read an article about expected bonuses for the likes of Goldman - made me so mad!

Judith Ellis said...

Meena! Meena! It's really good to see you. Yeah, those bonuses are maddening, but we have to change that. President Obama put forth a windfall tax on the bonuses retrieving some $100 billion. This helps. Other legislation needed also to prevent this sort of thing from happening again. All of the bank executives before the Financial Crisis Inquiry Commission was both sad and maddening. They truly live in an alternate universe.

Meena said...

I know, so long since I've been around. But I mean, it is really really maddening cause really taxpayers are the ones eating it. I've heard the average GoldMan Sachs income ends up being $600,000.....

Judith Ellis said...

"But I mean, it is really really maddening cause really taxpayers are the ones eating it."

I agree, Meena. Welcome back.