Goldman Must Fail - Reader Comments
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1. 'I agree that much of the criticism of banks and Goldman is illogical and undeserved. And, sure, Goldman staff will help the little people in the economy if they splash out their bonuses, but they could help the economy more if they did not take so much out in the first place.
Bankers do not create wealth - they intermediate in capital flows, taking a rake off in return for their efforts. So all the revenue they earn has to come from someone else. The question therefore is whose spending will benefit the economy and the little people most - Goldman bankers, or the people from whom the firm took the money from in the first place ?'.
2. 'There are consequences for bad behaviour. Welcome to the new paradigm'.
3. 'A powerful banking industry does not help our society. It merely sucks all the money out of it into its own hands'.
4. 'Everyone is focusing on banks and insurers, while the real culprits are the rating agencies. These guys effectively got paid by issuers to AAA-rate debt which turned out to be toxic. Incompetent at the very least'.
5. 'Some sanity at last. This witch hunt has gone too far. Heaven forbid that someone gets rewarded for a job well done! All these envious attacks on bankers are both childish and foolish'.
6. 'Well, well. Somebody who has actually got to the crux of the problem - greedy government and greedy boards of directors (many of whom had no banking experience at all).
7. 'I am tired of all this angry biased rhetoric focused on Goldman Sachs (and I don't work for the firm). It's about time we had realistic commentary on a firm which should be congratulated for outsmarting the rest of the market'.
8. 'The mindless, ill-informed, slaughter of these firms needs to stop'.
9. 'This is one of the best articles I've read in a long time. Succinct, well-thought out and echoing what a lot of sane people already know.
If we listen to the left wing loons, and bow to the pressure of the media, we're dooming ourselves to live in a society where aspirations are crushed and rewards penalised.'.
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