Goldman Sachs business model
CNBC’s Charlie Gasparino reports that “Rival banks are eagerly awaiting this week’s earnings announcement from Goldman Sachs (NYSE: GS) not only for the third-quarter results but for how the firm deals with up to $20 billion in bonuses just a year after it received federal bailout money during the height of the financial crisis.”
With third quarter earnings expected to ring in at more than $2 billion, Goldman is prepared to pay out some hefty bonuses. The problem? Given that Goldman Sachs received a taxpayer bailout only a year ago, paying out massive cash bonuses now could lead to a significant public relations backlash.
Gee, it’s a miracle. I guess the United States of Goldman Sachs is back on track.
Sure: It’s never fun when people are saying mean things about you. But Goldman Sachs’ business model doesn’t make its reputation among the masses important. As long as its cadre of clients still have faith in its ability to make them rich, Goldman can prosper.
Like they care about backlash. The joke is on everyone else, isn’t it Ben and Timmeh? Say, I have an idea! Why don’t you help them change their logo to a middle finger? Seems fair.
The Partnership: The Making of Goldman Sachs
Book (Penguin Books)
Romney's Business Model killed jobs & profits
Wall Street created an elaborate scam that's the core reason why what's good for Wall Street is bad for main street.
Its an elaborate scam but a few highlights are Knowingly advising your clients to buy "toxic assets" (companies weighed down with debt and shorted against....or bundled mortgages of mortgages that shouldn't have been sold) and subsequently Credit Rating Fraud: Shorting credit ratings, credit default swaps...Romney's Bain began as a venture capitalist investing in companies and then immediately turned to leveraged buyouts of failing companies.
Bain (Romney) and Goldman Sachs were leaders in this Wall Street scam; the same one that took down the housing market for profit
I wanted to see any fail business model go bankr
Upt, this is what capitalism is, which is different then Free Market Capitalism laissez-faire economic (I called it the every man, woman, or child for her/himself economic).
This is the only way to ensure the competitiveness of our businesses, absolutely no gov't bailout.
Gov't role should be like the traffic cop - to ensure a 18-wheeler like Goldman Sachs don't run over a red light and run you over, also make sure everyone followed the traffic rules.
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