Lord Blankfein, Divine Capitalist Pig

Tuesday, May 25, 2010 , , 1 Comments

It is curious that this didn't raise any red flags.

Whatever the case, that unexpected stock jump turned out to be wonderful news, the billionaires’ smackdown on all the resentful parasites trying to take down Goldman Sachs–this according to all sorts of media lickspittles who are rooting for Goldman. Here for example is The New York Daily News gloating over Goldman’s unexpected stock price rise:

I would be happy to let the whole United States Senate curse at me for just a fraction of the $2.8 million Goldman Sachs CEO Lloyd Blankfein made while he was testifying before a subcommittee this week.

The opinions of the senators carry so little weight that Goldman stock actually went up more than a buck, from $151.63 to $153.04, on a day when most of the market dropped.
And since, by one recent report, he owned 2,035,364 shares, Blankfein was getting more than $2.8 million richer even as he was being vilified.
Instead of reaching the obvious conclusion that something fishy was happening with Goldman’s stock, the columnist blocks out any whiff of journalist/investigator skepticism, and replaces it with the sort of free-market mysticism that was in vogue up until a couple of years ago: The rise in Goldman’s stock price means that the Gods approve of Goldman Sachs’ behavior… and Lloyd Blankfein is now recast as some kind of populist rebel sticking it to The Man, a capitalist whose only crime was doing business better than his competitors–which caught the attention of resentful looters and parasites in Congress

It sounds so nice when you put it that way.

Bad reform is better than no reform to prevent Blankfein II, right?

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.


Anonymous said...

"Just how close to a complete implosion was the financial system if 0.5% interest seemed too high? Not surprisingly, this program was widely used: "Credit Suisse Group AG, Goldman Sachs Group Inc. and Royal Bank of Scotland Group Plc each borrowed at least $30 billion in 2008 from a Federal Reserve emergency lending program whose details weren’t revealed to shareholders, members of Congress or the public...Goldman Sachs, led by Chief Executive Officer Lloyd C. Blankfein, tapped the program most in December 2008, when data on the New York Fed website show the loans were least expensive. The lowest winning bid at an ST OMO auction declined to 0.01 percent on Dec. 30, 2008, New York Fed data show. At the time, the rate charged at the discount window was 0.5 percent." Yes, that Goldman Sachs. The same one that perjured itself when it said before the FCIC that it only used de minimis emergency borrowings. Just how many more top secret taxpayer subsidies will emerge were being used by the Fed to keep the kleptocratic status quo in charge?"

yep, little Lloyd in his Black Bart cowboy hat riding upon the mechanical pony in front of the Wall Drug Store in South Dakota shooting his cap pistols in the air and having a high time... He's such a "High Plains Drifter", huh?... oh sorry... movie reference again. It was never a question of adequate liquidity - it was just a question of liquidity at what price.