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Goldman Sachs -vs- Occupy Wall Street
  • marchelomarchelo October 2011 +1 -1 (+1 / -0 )
    An investigation into Goldman Sachs has revealed a whole new level of greed and corruption taking place on Wall Street.

    Back in 2008, the investment bank Goldman Sachs was magically turned into a commercial bank, within 24 hours, so they could qualify for $10 billion in bailout funds. Part of the deal was an agreement that they would be subject to the Community Reinvestment Act and return some of that money back into low-income community banks.
    Since Goldman doesn’t have any branches (because they are in reality an investment firm), they agreed to give money to the designated low-income bank of New York, Lower East Side People’s Federal Credit Union. These payments are not donations. They are required payments under the law as part of the deal they agreed to in return for the $10 billion in taxpayer funded bailout money they received in 2008.

    Proving that no good deed goes unpunished, Goldman Sachs has begun to use these payments as a political weapon to control the political discussion.
    The Lower East Side People’s Federal Credit Union became the bank of choice for the Occupy Wall Street movement's increasing donation funds. The tiny credit union has come out in support of Movement, since for them its about moving individual's money from the big banks to the small banks.
    Well Goldman got news of this and responded with legal threats saying, you cannot—if you’re going to get our money, you may not back Occupy Wall Street and the "move your money" movement, without getting approval from us at Goldman Sachs.
    This is a whole new level of corruption and it’s very dangerous because it involves billions of dollars in public money. It’s not Goldman’s money. It’s our money. And this is what they’re doing with it.


    Information pulled from: http://www.democracynow.org/2011/10/25/goldman_sachs_v_occupy_wall_street

    Agrees: MundusVultDecipi

  • MundusVultDecipiMundusVultDecipi October 2011 +1 -1
    I just watched this bit on Democracy Now this morning. Pretty interesting... Goldman Sachs pulls the $5,000 they originally donated to the People's Credit Union. Did you see the placard on the video "Party's over you lying sachs of shit!" made me smile.
  • marchelomarchelo October 2011 +1 -1 (+1 / -0 )
    The $5000 has been falsely characterized as a donation - they are legal bound to make payments to Lower East Side People’s Federal Credit Union and have illegally chosen to withhold the money for political reasons.

    @MVD I totally missed that sign! That's hilarious!

    Agrees: MundusVultDecipi

  • gavemehope October 2011 +1 -1
    I guess how did you expect them to act. I am not advocating any violence here, just to be clear. The sickness of greed has such a grip on these men, it is all they are. If you gave them the choice of death and giving up their money which do you think they would choose ? I don't have any doubt. The only thing that could possibly influence is prison, and the cops are bought, hell the government is bought. It wouldn't surprise me if the next bill from congress is that you can't convict any one on wall street. Let's hope it don't come up, there would be no resistance. Thanks for posting the video @marchelo but they all make me sick. At least there was the sign, thanks for pointing that out. Party's over.
  • %5BDeleted+User%5D[Deleted User] November 2011 +1 -1 (+0 / -2 )
    Barack Obama and OWS are two of a kind. Both are socialist, free loading looters of the same ideology. The question brought before America is: "When will Obama throw OWS under the bus like he has done so many times in the past since election season is approaching very fast. Only time will tell !

    http://moonbattery.com/?p=4160

    Disagrees: MundusVultDecipi, whitefeather

  • KnaveDave February 2012 +1 -1
    Indeed. Goldman is the Kingpin of corruption and greed on Wall Street, just as Bank of America is in Georgia:

    "There are more thousand-dollar bills stuffing the suit of a Goldman Sachs executive than there are straws in a scarecrow. The Wall Street people who piloted us all into the Great Recession have overturned banks that received more than a trillion dollars in free loans and outright gifts from beleaguered tax-payers. They could not have performed worse if they were captaining an Italian cruise ship. For such fine performance during these upsetting times of recession, their Wall Street boards have continued to make these pork-bellied bankers some of the highest paid captains of industry in the world. Yet, those among them who make their money through stock options and capital gains pay a lower percentage of their income in taxes than the taxpayers who are bailing out their sodden capsized casino boats.

    Goldman Sachs bonuses are a bailout bonanza

    Let’s look at just Goldman Sachs as a glaring example, since it is the golden calf worshipped on Wall Street by all who have an appetite and the aggression to make it rich in the banking world. Goldman’s profit fell 47% in 2011, thanks to the crisis it helped create; and its net income for the last three months fell 58%. Yet, it’s total compensation to staff, which Goldman always claimed is performance based and comes almost entirely in the form of bonuses, only dropped 21%; and that was after cutting 7% of its staff over the last year (many of which were jobs outsourced to Singapore). The average pay for a Goldman employee in 2011 was about $366,000...." (excerpt from: http://thegreatrecession.info/blog/2012/01/goldmans-sacks-of-u-s-gold-bailout-bonus-bonanzas/ )

    --Knave Dave
    http://TheGreatRecession.info/blog
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