Goldman Sachs

...and the first moral hazard: the CEO of Goldman Sachs, Lloyd Blankfein, gets millions in taxpayer perks, courtesy of YOU and ME. http://www.reuters.com/article/2011/01/29/uk-goldmansachs-pay-idUKTRE70S0IG20110129 Don't you just love corporate welfare?

Goldman received multiple bailouts from Washington to pay for its outstanding derivatives debts. They also received an indirect bailout through AIG to pay for its counterparty agreements with GS. These guys made a huge fortune based on government aid while the rest of the American public was left holding the bag with their debts. According to Bloomberg (http://www.bloomberg.com/apps/news?pid=20601103& ;sid=aXubc5mGCXig) Goldman Sachs current record earnings from their free or low cost capital injections, courtesy of the American taxpayer, allowed management to decide that a 33 percent increase in compensation and benefits was apropos. On an annualized basis, that comes out to over $773,000 per employee at GS. I've said it before and I'll say it again, these are the perils of bailing out failed firms. Way too many moral hazards involved. This should tell all of us who our government really represents. Looking at the roster of Clinton, Bush and Obama Administration alums, y... Read more

My experience with Goldman is in New York City. I used to work in the financial services industry and I must say, Goldman stands out. Of all the firms I've met, Goldman is the only one I honestly like. This is a superb organization. It possesses talented and very personable employees who provide very good service firm-wide. If you only care about numbers and performance, Goldman can provide that. If you're interested in a little more, such as a good relationship, I think Goldman can deliver that too. I think of myself as a very critical and at times cynical person but I say here, kudos to Goldman.