THE DOT - if this turns orange or red be alert

Thursday, October 15, 2009

Brainstorming part 2

3. The Goldman's even are not ashamed of their public stance here a comment from their CFO - they claim to deserve the bonus.

"Yes, I do think it's too big a focus," Mr. Viniar said. "I would prefer people to be focused on the success of our business, how well we're doing and how well our people are performing."

The only reason they made this profits is the reckless use of taxpayers money and backstop. They even cheated on the calculation of the warrant buyback - which was at least 1.2 bil to cheap to put it into a nice wording basically they stole it from taxpayers with the Treasury's help.

Lets make a quick calculation as the profit is 3.2 bil. we have to put 1.2 bil as an undeserved present from the Treasury and that is also based on a bad timing since the Treasury desired to sell them around 150 stock level. If we add the 40 Dollar it is rather 2 bil. taxpayer missed out on.
We have the FED sponsered Carry trade of the yield curve and a free ride on the stock markets for all this you neither need talent or skills except criminal energies to make these kind of profits. Nobody at Goldman deserves this record bonus and the fact that Obama lets them get away with this robbery ( the rookie trader might object again here as he might be part of the bonus pool).

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