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Policy / Politique
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Dark Knight / Le Chevalier Noir
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---- Nous avons besoin d'un traduction français!
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Whistleblower Greg Smith resigns from Goldman Sachs and writes embarrassing editorial piece for New York Times about how Goldman screws over its own clients. http://www.youtube.com/watch?v=PfW5tGpIczY
Whistleblower Greg Smith resigns from Goldman Sachs and writes embarrassing editorial piece for New York Times about how Goldman screws over its own clients. http://www.youtube.com/watch?v=PfW5tGpIczY
The clients of Goldman Sachs are the 1% wealthy. You don't like the 1%. Are you saying you are now upset at how the super-wealthy may have been treated? Are the 99% rallying to protect the 1%? Is the OWS movement all about rallying to protect someone's diversified high income investment portfolio? It brings a tear to my eye. Free Willy Gates. I'm mad as heck at the superrich and I don't like how they are being treated either. They deserve much better. (Which they do I just didn't know you cared.)
Last edited by Zeljko Kitich; Thursday, 15th March, 2012, 03:50 PM.
The clients of Goldman Sachs are the 1% wealthy. You don't like the 1%. Are you saying you are now upset at how the super-wealthy may have been treated? Are the 99% rallying to protect the 1%? Is the OWS movement all about rallying to protect someone's diversified high income investment portfolio? It brings a tear to my eye. Free Willy Gates. I'm mad as heck at the superrich and I don't like how they are being treated either. They deserve much better. (Which they do I just didn't know you cared.)
Well, your comments are clearly meant to provoke me into a flame war. I am really not interested. Have a nice day.
Well, your comments are clearly meant to provoke me into a flame war. I am really not interested. Have a nice day.
Provoke you? Your constant posting of non-chess related items such as this alleged financial malfeasance, OWS political messages (ie propoganda) and global warming on a chess site are clearly meant to provoke a reaction. Then when you get a reaction you cry foul. Heck and to think I used to hear it when I just posted GO tournament info that I was off topic on this site. From Kerry Liles if I remember right. Until I pointed out Chess and Math carries GO equipment and supports GO so at least that was related to the organization whose board this is.
Are there no suitable chat boards where you can post this political stuff to? Are you afraid that if you do go to those sites there might be someone there who actually knows what they are talking about? But I'm game, let's post stuff about the robo-calls, US nomination race etc. Chesstalk can become PoliticalTalk or PropogandaTalk. Then we can all complain when someone expresses an opposing viewpoint. Or were you just expecting everyone to listen to your message without any comment. That would be called ShutUP&Listen&Don'tDareTalkBack Talk.
Last edited by Zeljko Kitich; Thursday, 15th March, 2012, 04:32 PM.
Well, your comments are clearly meant to provoke me into a flame war. I am really not interested. Have a nice day.
I didn't think he was trying to do that.
The CFC over the past decade has been one of the most right wing organizations around. Although many claim to support the lower 99%, the organization they run seems more interested in investing than supporting chess and chess players. The financial arm of the CFC, the foundation, invests like wall street money managers.
Like most left wingers, they campaign from the left and if they get lucky enough to win they govern from the right.
Hi Bob. Yes, the public resignation was very interesting. Here is a letter I copied, from the Times website, allegedly written by Blankfein and Cohn for circulation to GS employees only. I find it humourous that 12,000 of their 30,000 employees are vice presidents!! A means of making clients feel that they're dealing with someone important, I suppose. If you represent an institutional investor, for example, why would you want to deal with a 'lowly' account manager, which is probably what the large majority of these v-p's would be called elsewhere. Personally, I like the fact that you're keeping us up to date on some of the interesting goings-on outside of chess. Keep up the good work!! :)
Originally posted by New York Times
March 14, 2012
Our Response to Today’s New York Times Op-Ed
By now, many of you have read the submission in today’s New York Times by a former employee of the firm. Needless to say, we were disappointed to read the assertions made by this individual that do not reflect our values, our culture and how the vast majority of people at Goldman Sachs think about the firm and the work it does on behalf of our clients.
In a company of our size, it is not shocking that some people could feel disgruntled. But that does not and should not represent our firm of more than 30,000 people. Everyone is entitled to his or her opinion. But, it is unfortunate that an individual opinion about Goldman Sachs is amplified in a newspaper and speaks louder than the regular, detailed and intensive feedback you have provided the firm and independent, public surveys of workplace environments.
While I expect you find the words you read today foreign from your own day-to-day experiences, we wanted to remind you what we, as a firm – individually and collectively – think about Goldman Sachs and our client-driven culture.
First, 85 percent of the firm responded to our recent People Survey, which provides the most detailed and comprehensive review to determine how our people feel about Goldman Sachs and the work they do.
And, what do our people think about how we interact with our clients? Across the firm at all levels, 89 percent of you said that that the firm provides exceptional service to them. For the group of nearly 12,000 vice presidents, of which the author of today’s commentary was, that number was similarly high.
Anyone who feels otherwise has available to him or her a mechanism for anonymously expressing their concerns. We are not aware that the writer of the opinion piece expressed misgivings through this avenue, however, if an individual expresses issues, we examine them carefully and we will be doing so in this case.
Our firm has had its share of challenges during and after the financial crisis, but your pride in Goldman Sachs is clear. You’ve not only told us, you have told external surveys.
Just two weeks ago, Goldman Sachs was named one of the best places to work in the United Kingdom, where this employee resides. The firm was the highest placed financial services company for the third consecutive year and was the only one in its peer group to make the top 25.
We are far from perfect, but where the firm has seen a problem, we’ve responded to it seriously and substantively. And we have demonstrated that fact.
It is unfortunate that all of you who worked so hard through a difficult environment over the last few years now have to respond to this. But, our response is best demonstrated in how we really work with and help our clients through our commitment to their long-term interests. That priority has distinguished us in the past, through the financial crisis and today.
Thank you.
Lloyd C. Blankfein
Gary D. Cohn
"We hang the petty thieves and appoint the great ones to public office." - Aesop
"Only the dead have seen the end of war." - Plato
"If once a man indulges himself in murder, very soon he comes to think little of robbing; and from robbing he comes next to drinking and Sabbath-breaking, and from that to incivility and procrastination." - Thomas De Quincey
Whistleblower Greg Smith resigns from Goldman Sachs and writes embarrassing editorial piece for New York Times about how Goldman screws over its own clients. http://www.youtube.com/watch?v=PfW5tGpIczY
I love the shocked (deer in the headlights) look on Austin Goolsbee's face when Alan Greenspan says don't worry, we can always print more money. Goolsbee was on Obama's Council of Economic Advisors.
I love the shocked (deer in the headlights) look on Austin Goolsbee's face when Alan Greenspan says don't worry, we can always print more money. Goolsbee was on Obama's Council of Economic Advisors.
It's how the system works, Bob. When I was a kid, it cost 25 cents to go to a movie Saturday afternoon. 5 cents each way for the streetcar and bus, 10 cents to get into the movie and 5 cent to buy some popcorn and a drink.
The population of the country was around 14 million. Now it's more than double that and prices are high. Where do you suppose the money supply came from if they didn't print more?
When government bonds come due how do you think they are paid off? Maybe by issuing new bonds?
When there was high inflation during Trudeau's rule (I don't consider what he did governing) the idea was to buy assets like a home in the hard dollars and pay for it in the future soft dollars. Wages were going up quickly. The company I worked for asked the union to accept a higher wage during the contract. They were losing too many workers. Of course, that was the company's problem so however much they offered the idea is to ask for more.
Whistleblower Greg Smith resigns from Goldman Sachs and writes embarrassing editorial piece for New York Times about how Goldman screws over its own clients. http://www.youtube.com/watch?v=PfW5tGpIczY
Bob, if you are interested in this issue you should go to CSPAN's website and get the video of the Goldman Sach's ceo testifying to the US congress.
Goldman Sachs had sold securities they
1. had an internal report showing was bad (Which was now in the hands of congress) and
2. they themselves were betting against.
When the Congress representatives brought this up the answer given was "sorry I wasnt ceo then.."
Bob, if you are interested in this issue you should go to CSPAN's website and get the video of the Goldman Sach's ceo testifying to the US congress.
Goldman Sachs had sold securities they
1. had an internal report showing was bad (Which was now in the hands of congress) and
2. they themselves were betting against.
When the Congress representatives brought this up the answer given was "sorry I wasnt ceo then.."
Hey Garvin. I have seen some of the CSPAN testimony via YouTube clips. Senator Carl Levin and others have some choice words for Goldman Sachs executives.
Anyhow, I doubt Greg Smith will be getting any banking jobs on wall street anytime soon. Rumour has it he is shopping around for a book deal. A bestseller I hope.
Here is a new song, to answer the question on the minds of Goldman Sachs investors, am I a client or a Muppet?
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