The Goldman Rats Show Us They're a Bunch of Babies and Run Away from New Tax Rules

Sunday, January 03, 2010 , , 0 Comments

Outrage by the Guardian

I suppose this is one way to get your point across. What was the UK thinking?


Goldman Sachs Group Inc (GS) has begun a review of its London operations that could result in entire departments going overseas to avoid paying increasing British taxes, the Daily Telegraph reported in its Monday edition.

The newspaper, which quoted unnamed sources, said the bank was understood to be considering its options after Britain announced plans for a new tax on bankers' bonuses, a new income tax rate and the increased banking regulations.

The Telegraph said the investment bank had asked an internal team to examine various strategies, including whole divisions being moved abroad. It said the review was in the very early stages and could also recommend no changes at all.

Goldman's proprietary trading arm, foreign exchange trading teams and the bank's back office operations were all mentioned as areas that could be examined in the review.

Money, money, money and the more of it Goldman has that the government doesn't, better for Goldman of course. Those rats aren't nearly as stupid as they look for even suggesting the idea. There are plenty of countries willing to coddle GS and give them a whole bunch of tax breaks, regulatory rule-bending, and even their own arm of the Treasury, like the United States for example. We'll take them. Sorry you blew your cash cow doing God's work, UK.

That will teach you not to mess with GS. Amateurs.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.