Obama and Wall Street
July 19, 2010 - by
The anti-Wall Street talking Obama administration just let Goldman Sachs off the hook for bilking investors for billions with a wrist slap.
Now, granted a $550 million fine sounds like real money. But consider this: It’s less than 5% of Goldman Sachs $12 billion in profits.
And not one Goldman Sachs executive got tried for fraud and all the executives – except one who’s still being investigated – got to keep millions in bonuses they made selling rigged derivatives to investors; the MBA’s and CEO’s walked away from the train wreck with their cash in tact while Goldman Sachs stockholders ended up holding the bag and paying the fine.
Meantime, in Washington, Obama’s telling everyone the Republicans are protecting Wall Street!
Posted in General, National Democrats
Obama and Wall Street
July 19, 2010/
The anti-Wall Street talking Obama administration just let Goldman Sachs off the hook for bilking investors for billions with a wrist slap.
Now, granted a $550 million fine sounds like real money. But consider this: It’s less than 5% of Goldman Sachs $12 billion in profits.
And not one Goldman Sachs executive got tried for fraud and all the executives – except one who’s still being investigated – got to keep millions in bonuses they made selling rigged derivatives to investors; the MBA’s and CEO’s walked away from the train wreck with their cash in tact while Goldman Sachs stockholders ended up holding the bag and paying the fine.
Meantime, in Washington, Obama’s telling everyone the Republicans are protecting Wall Street!
Posted in General, National Democrats