So if you subtract out the US taxpayers ‘contributions’ to Goldman Sachs, they actually LOST $15 BILLION (18.4B – 3.4B).
That whiny little bitch Kenny-boy Lewis should be ousted as CEO because not only did he back the fuck down when threatened with losing his job over rescinding the ML acquisition- a weak bluff by Paulson I might add- but get this, even when he knew it wasn’t a good deal for shareholders, he didn’t stand up for shareolders. Why should shareholders keep him on board? But then whadoo I know, perhaps all CEOs are whiny little bitches instead of the masters of their respective universes when they gots to make the really tough decisions.
Boo-fucking -hoo Kenny-boy II.
Hmmm. let’s review the state of things:
Consumers are tapped out
Malinvestment in paper instead of productive businesses
Unemployment heading for 15%
Households only deleveraged from 133% to 128% (still way too fucking high)
Government spending propping up GDP (tiger eats own tail film at 11)
Wages and weekly hours performed both shrinking
Delinquencies, defaults, bankruptcies and foreclosures are all up, up. up
Debt-deflation for the forseeable future
Tax collection far below expectations for the foreseeable future (raising it won’t help)
State budget failures
An adminsitration that wants to stifle free speech
Redonkulous Republicrats vs. Democans partisan bickering (that includes Mike Whitney)
No reform in financial markets
TBTF still the operating mandate
Banks have more than a $1 trillion in toxic assets on their balance sheets
Regulators still MIA (Hmmm I thought GS was no longer an IB? WTF this is GS they get to make their own rules)
Nothing has been fixed (“let’s set ’em up so we can knock ’em down again! I’m not rich enough yet!”)
Bubble economics is still preferred by policymakers 10:1
Still no plans to create a public exchange for deriviatives
..and the list just gets longer. [Mike Whitney]
After the stimulus, then what? Another stimulus? You gots to be fucking kidding me.