Skip to comments.Why no scandal tarnishes Teflon-coated Goldman (Government) Sachs
Posted on 03/26/2012 6:09:54 AM PDT by SeekAndFind
Goldman Sachs may be conducting an Easter egg hunt in search of the smoking Muppet e-mail, but you know in the end CEO Lloyd Blankfein will come up with the golden egg. Its profits will rise, its stock will soar.
Why is Goldman Teflon-coated? Countless pixels have been generated noting the revolving door between Goldman and Washington, its supposedly undue influence in high places, its eagerness to hire those with a few extra IQ points on the competition, the special sauce it adds to its souped-up derivatives youve seen the list.
But what if it isnt nearly as complicated as that? For a simple explanation of what makes Goldman tick and keeps it immutable even in the face of great challenges, I turn to Disney, keeper of the Muppets the real ones.
Think of Goldman as the Premier Theme Park of Finance, where the theme is making money: making money for its clients and making lots of money for its partners. Better yet, since Goldmans business is all about money and moving it around (the $63 billion dollar firm doesnt make anything), it is fortunate to find itself in the biggest growth business on the globe.
Veteran Goldman-gazers have seen this phemomenon before, as it has played out over the past 25 years. From the Ivan Boesky insider-trading scandal (which ended with the conviction of a senior Goldman partner) to the firms brush with death in late 2008, Goldman always skates through in better form than its competition.
(Excerpt) Read more at nypost.com ...
if you think crony capitalism is rampant under zer0bama...wait till you see it under Willard.
Why no scandal tarnishes Teflon-coated Goldman (Government) Sachs
If we do't fire Obama there is no hope for this country, but, yeah Goldie has picked every administration since Bush I.
This revolving door has to stop.