Leitura complementar: The Great American Bubble Machine: From tech stocks to high gas prices, Goldman Sachs has engineered every major market manipulation since the Great Depression - and they're about to do it again
terça-feira, 14 de julho de 2009
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Pelos visto há quem acredite que não o serão para sempre:
As much as bonus-eligible employers may rejoice, the government, taxpayers and shareholders have real reasons to be concerned about Goldman Sachs' huge surge in profits and how they are being generated and allocated.
(...) Goldman set aside 48 percent of its total revenue, (...) to fund employee compensation, an amount that is (...) titanic for a company that (...) was in receipt of direct government support (...), the same percentage as was doled out to employees in 2007, in the supposedly bad old pre-crisis days.
"Our model never really changed," Goldman Sachs Chief Financial Officer David Viniar told Bloomberg News.
(...) Goldman is taking on more risk than before the deluge, and, when it makes more money, allocating the same amount to the no-doubt brilliant employees who helped produce it.
If I were a politician who might need to underwrite the next bailout if Goldman's bets go bad, I'd be a bit worried.
If I were a Goldman shareholder who had seen Lehman and Bear Stearns fall, I'd be wondering why, given the risks they exemplify, I don't get a bigger share of the pie.
(...) Goldman and virtually every other bank and investment bank around the world are creatures of government. They exist, whether they want to or not, only by grace of the taxpayers who, it has been demonstrated, stand ready to pick up the pieces when risk management fails.
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