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Deckard

Goldman Sachs Pays $1.1 Billion To Treasury, Handing Taxpayers 23% Return

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http://www.bloomberg.com/apps/news?pid=206...id=a6ZByVu1vnqA

July 22 (Bloomberg) -- Goldman Sachs Group Inc. agreed to the U.S. Treasury’s request for $1.1 billion to redeem warrants the government received when it invested in the firm, which reported record second-quarter profit last week.

The payment is in addition to $318 million in preferred dividends that Goldman Sachs paid on the $10 billion U.S. investment. On an annualized basis, the total return to taxpayers was 23 percent, the New York-based bank said today in a statement.

“This return is reflective of the government’s assistance, which benefited the financial system, our firm and our shareholders,†Chief Executive Officer Lloyd Blankfein, 54, said in the statement. “We are grateful for the government efforts.â€

Well, that's good isn't it - ah, but wait

Goldman’s decision follows criticism of the bank by lawmakers who questioned its decision to set aside a record $11.4 billion to pay employees in the first half of the year.

Well, that's only fair innit, talent needs to be rewarded.

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what do you want them to do, get their wives to suck you off ? Or get them to do it personally ?

When will you be happy ?

They borrowed money, they repaid it at approaching doorstep lender interest rates - precisely what else do you want from them, do you want to give that donut back to reclaim your soul ?

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Guest BoomBoomCrash
what do you want them to do, get their wives to suck you off ? Or get them to do it personally ?

When will you be happy ?

They borrowed money, they repaid it at approaching doorstep lender interest rates - precisely what else do you want from them, do you want to give that donut back to reclaim your soul ?

Utter crap

Edited by BoomBoomCrash

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what do you want them to do, get their wives to suck you off ? Or get them to do it personally ?

When will you be happy ?

They borrowed money, they repaid it at approaching doorstep lender interest rates - precisely what else do you want from them, do you want to give that donut back to reclaim your soul ?

They paid their staff a bonus 10 times the amount of what they helped to manage to pay back to the people who lent the money to them to help them survive in the first place.

Long sentence. You get the drfit.

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what do you want them to do, get their wives to suck you off ? Or get them to do it personally ?

When will you be happy ?

They borrowed money, they repaid it at approaching doorstep lender interest rates - precisely what else do you want from them, do you want to give that donut back to reclaim your soul ?

To get real jobs that people want them to do and stop making a living by theft, extortion and connivery.

To go bankrupt, as they should.

To offer products and services on a refusable basis, not on the back of a taxation system of massive evil and exploitation.

To cease farming human beings like cattle.

That sort of stuff.

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To get real jobs that people want them to do and stop making a living by theft, extortion and connivery.

To go bankrupt, as they should.

To offer products and services on a refusable basis, not on the back of a taxation system of massive evil and exploitation.

To cease farming human beings like cattle.

That sort of stuff.

all honourable - but realistic ? Nope. We have to have lending - who do you distrust least to be in charge of it - politicians or bankers (if you think there's a difference) ?

If, and it is a big IF, the rest of this does not turn to crap, a 23% real cash return on lending made up new funny money is a cracking result. I was being slightly rude, but the point's the same, outside of utopian ideals, what do you want them to do - everyone was cracking on about how we now own the banks, they serve and how we want a profit out of them and how we should not be supporting them - now the US taxpayer has a big return on his stake (I'll ignore (for now) how GS has made that return for the taxpayer, as that's a whole different point) - what more does the average Joe want to see ?

He's got 'his' money back plus hefty interest and he's not on the hook to GS for TARP lending any more. Is that a bad thing ? And he'll see nearly 40% of the bonuses back in direct tax revenues too.... (for the US taxpayers).

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all honourable - but realistic ? Nope. We have to have lending - who do you distrust least to be in charge of it - politicians or bankers (if you think there's a difference) ?

If, and it is a big IF, the rest of this does not turn to crap, a 23% real cash return on lending made up new funny money is a cracking result. I was being slightly rude, but the point's the same, outside of utopian ideals, what do you want them to do - everyone was cracking on about how we now own the banks, they serve and how we want a profit out of them and how we should not be supporting them - now the US taxpayer has a big return on his stake (I'll ignore (for now) how GS has made that return for the taxpayer, as that's a whole different point) - what more does the average Joe want to see ?

He's got 'his' money back plus hefty interest and he's not on the hook to GS for TARP lending any more. Is that a bad thing ? And he'll see nearly 40% of the bonuses back in direct tax revenues too.... (for the US taxpayers).

Ethical behaviour is an indiviual concern.

Do these people have to do the things they do?

No.

They choose to.

They choose evil and therefore are evil.

When they choose not to prey on others like vampires, do let me know.

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They borrowed money, they repaid it at approaching doorstep lender interest rates - precisely what else do you want from them, do you want to give that donut back to reclaim your soul ?

do you think they'll give back the 13 billion of tarp they got via AIG being bailed out?

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When they choose not to prey on others like vampires, do let me know.

'Vampires' exist do they Injin, but 'groups' dont?

Ok then........... :blink:

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Guest spp

Rachman...Look at the damage they have caused the man on the street/the real economy!!

You really are a fool!!

Now go pick up your record Goldy bonus and stick it where the sun doesn't shine.

It won't be long now...http://crooksandliars.com/susie-madrak/what-country-needs-are-more-pitchfork

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Ethical behaviour is an indiviual concern.

Do these people have to do the things they do?

No.

They choose to.

They choose evil and therefore are evil.

When they choose not to prey on others like vampires, do let me know.

back in the real world, lending banks are essential for society to survive, to pay for the development of medical cures and to do all sorts of good (As well as the bad). So, unless you'd like to go back to people dying of consumption and basically living in caves and lighting fires to keep warm and to roast their neighbour (not footballer style) then tell me how you'd do it. We have to have these banks and a simple building society lend out a bit less than you have on deposit is not realistic.

I do sometimes wonder whether people on here want a full horsemen of the apocalypse or some form of armageddon, or whether they just like to try to scare other people and themselves....

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back in the real world, lending banks are essential for society to survive, to pay for the development of medical cures and to do all sorts of good (As well as the bad). So, unless you'd like to go back to people dying of consumption and basically living in caves and lighting fires to keep warm and to roast their neighbour (not footballer style) then tell me how you'd do it. We have to have these banks and a simple building society lend out a bit less than you have on deposit is not realistic.

I do sometimes wonder whether people on here want a full horsemen of the apocalypse or some form of armageddon, or whether they just like to try to scare other people and themselves....

If Goldman Sachs vanished overnight, the world would still spin, life would go on. They are leaches.

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do you think they'll give back the 13 billion of tarp they got via AIG being bailed out?

almost 5Bn is going straight back in income and state taxes out of this bonus pot. And the other cash goes into the real economy.

Shouldn't take long, should it ? Or would you prefer a Saul on the road to Damascus moment.... ?

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If Goldman Sachs vanished overnight, the world would still spin, life would go on. They are leaches.

Probably, but take away normal banking as we know it - I'd not want to be living near either a population centre or a military installation...... - we can't just dump banking and carry on. It would quite simply lead to World War 3, without nutty religious fruitcakes....

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almost 5Bn is going straight back in income and state taxes out of this bonus pot.

Brilliant! You have just discovered an argument for paying anyone anything for anything. After all, it's not as if the money has to actually come from anywhere. It's just a net positive for the ordinary taxpayer. The massive personal rewards (and consequent malinvestment in Maseratis) for the employees are just a necessary side benefit.

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Probably, but take away normal banking as we know it - I'd not want to be living near either a population centre or a military installation...... - we can't just dump banking and carry on. It would quite simply lead to World War 3, without nutty religious fruitcakes....

:lol::lol::lol:

most retarded banker VI comment so far:

"you must bail out the banksters or WWIII will start"

Edited by InternationalRockSuperstar

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Brilliant! You have just discovered an argument for paying anyone anything for anything. After all, it's not as if the money has to actually come from anywhere. It's just a net positive for the ordinary taxpayer. The massive personal rewards (and consequent malinvestment in Maseratis) for the employees are just a necessary side benefit.

Indeed. Let's just pay all paedos and nazis £10 million each. Tax it at 10% - everyone is a winner. :rolleyes:

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Probably, but take away normal banking as we know it - I'd not want to be living near either a population centre or a military installation...... - we can't just dump banking and carry on. It would quite simply lead to World War 3, without nutty religious fruitcakes....

I think we can safely dump the Goldman Sachs sort of banking. Banking originally grew to accomodate the needs of industry and commerce. Now the tail is wagging the dog.

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With that AIG taxpayer booty to boot, that works out at:

Money going to GS from taxpayer = AIG loot + 10bn = 22.9bn

Money coming back to taxpayer = 11.418bn

Time period = Sep 08 - Jul 09 which is approx 10 months

So on an annualised basis, the total return to taxpayers is (12/10) * ((11.418 - 22.9)/ 22.9) = -60%

Put another way, the annualised return to GS on their 'investment' is (12/10) * ((11.482 - 1.418)/ 1.418) = 852%

Just to reiterate the words of the cockroach CEO of GS:

We are grateful for the government efforts.

Now we know that GS received more than 22.9bn.

There's

- eliminating the competition by Government fiat, increasing their margins

- allowing them to continue their fraudulent accounting activities without any sort of scrutiny

- the alphabet soup of Fed and Government bailouts the total running into several trillions

Once again, that quote from Lloyd Blankfein:

We are grateful for the government efforts.

:lol::lol:

Edited by mdman

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The pittance they paid back is a complete red herring. It is only a fraction of the amount they've siphoned off the tax payer on the back of the various multi hundred billion bailouts. Not to mentioned Goldman Sachs widespread rigging of the equity markets. They're thieves and fraudsters, the centre of a dense and interconnected web of financial oligarchs that spread across nations and governments and is designed specifically for one purpose - to steal from us.

Goldman Sachs are *****.

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Guest BoomBoomCrash
Probably, but take away normal banking as we know it - I'd not want to be living near either a population centre or a military installation...... - we can't just dump banking and carry on. It would quite simply lead to World War 3, without nutty religious fruitcakes....

What is normal banking you odious little twit? If it the kind of activity GS in involved in we can well do without it

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Brilliant! You have just discovered an argument for paying anyone anything for anything. After all, it's not as if the money has to actually come from anywhere. It's just a net positive for the ordinary taxpayer. The massive personal rewards (and consequent malinvestment in Maseratis) for the employees are just a necessary side benefit.
No, I am taking the p1ss, but never mind.

The serious side of it is, is money better wasted on banks or on the social security net.

As for, "if you don't bail out bankers, it's WWIII" - ask yourself, what will the despots do when they find out their money's gone - what will the Chinese do when they don't get repaid by Uncle Sam, shrug and get on with it. What will the Russians do ? It'll be more than cry into their vodka.

I know banks need regulating, I know the excesses need curbing, but some of the crap (from all sides (yes me too....)) on here and elsewhere is just comedy and needs stoking and the p1ss taking.

And please BoomBoomcrash, if you really don't have anything other than abuse to offer - and you consistently seem to be simply abusive at me, stop it. It does not reflect particularly well on you - though I bet you secretly enjoy being able to be rude behind a keyboard.

Edited by Rachman

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Money going to GS from taxpayer = AIG loot + 10bn = 22.9bn

bet Goldman got their hands on a good chunk of this also:

http://www.bloomberg.com/apps/news?pid=206...id=aatlky_cH.tY

Fed Defies Transparency Aim in Refusal to Disclose

Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

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