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Anger and Panic At Goldman Sachs Over 90% Tax
Copyright 2009 The Business Insider, Inc. All rights reserved ^ | Mar. 21, 2009, 7:40 AM | John Carney

Posted on 03/21/2009 2:05:23 PM PDT by Behind Liberal Lines

Goldman Sachs was solidly behind Barack Obama. Indeed, Goldman Sachs has long had the reputation as the investment banks with the most Democratic supporters on Wall Street.

But the vote earlier this week to impose a 90 percent tax on bonuses at TARP supported banks has many at Goldman feeling betrayed, fearful and angry. On Thursday and Friday, the trading floor at Goldman echoed with brokers and traders cursing the lawmakers who passed the bill and seeking reassurance from their fellow employees that their bonuses wouldn’t be clawed-back. At least one Goldman trader called his lawyer to see what legal protections might be available

(So, lads and lasses, here’s your reassurance. If this bill becomes law, last year’s bonuses won’t fall under the 90% tax. It only applies to bonuses paid after December 31st. So you’ll have till the end of the year to figure out some way around this thing. We’re sure you can do it. Now back to the story.)

“[7u&k] Obama,” one person said aloud on the floor, giving voice to the feeling of political betrayal.

Word spread quickly that because the bonus tax only applies to TARP recipients, foreign banks wouldn’t be covered. At least a few people at Goldman Sachs have already called recruiters. And recruiters have stepped up efforts to poach Goldman employees offering jobs safe from the TARP bonus tax.


TOPICS: Business/Economy; Editorial
KEYWORDS: bho44; bhotaxincrease; goldmansachs; obama; obamathemarxist; obamunism; wallstreet
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To: Lazamataz
Consider yourself lucky you were not named in the article....Because within 2 years, you would have been rounded up and killed.

...and within the next two DAYS his personal records broken into and leaked...

81 posted on 03/21/2009 3:23:43 PM PDT by Behind Liberal Lines
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To: Behind Liberal Lines

I love it! Everyone of those nitwits who thought they were being the smart sophisticated elitist and supported the Kenyan Socialist nitwit deserve what they get - BUT the only problem with that - in the end

“WE ALL SUFFER” !


82 posted on 03/21/2009 3:25:00 PM PDT by Paige ("All that is necessary for the triumph of evil is that good men do nothing," Edmund Burke)
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To: Behind Liberal Lines

This reminds me of what happened in Spain when the voters, reeling from the terror attack, went to the polls and voted without thinking. Now the Leftists have taken over the culture and the Church is on the run. Logic is necessary for freedom.


83 posted on 03/21/2009 3:27:40 PM PDT by kittymyrib
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To: Behind Liberal Lines
And recruiters have stepped up efforts to poach Goldman employees offering jobs safe from the TARP bonus tax.

Another nail in the coffins of these TARP firms. I hope they all die quickly.

84 posted on 03/21/2009 3:34:35 PM PDT by TurtleUp (Turtle up: cancel optional spending until 2012, and boycott TARP/stimulus companies forever!)
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To: hkp123

Of course it’s unconstitutional. It is both ex post facto and a bill of attainder. It is also a useful smokescreen to keep the public from focusing on the fact that hundreds of billions of U.S. taxpayer dollars are going to rescue foreign banks.


85 posted on 03/21/2009 3:36:50 PM PDT by GRANGER
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To: GOP Golfer
For supposedly being bright people, they sure were easily hoodwinked. Serves them right.

Kool Aid has that effect on people.
86 posted on 03/21/2009 3:44:37 PM PDT by rickomatic
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To: Behind Liberal Lines

I don’t believe this because they are part of Obama’s money laundering team.


87 posted on 03/21/2009 3:46:34 PM PDT by freekitty (Give me back my conservative vote.)
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To: Behind Liberal Lines

So Commander Zero didn’t even wait two months before throwing his biggest class of financial backers to the wolves. The GS guys, so f’ing smart you needed shades while speaking to them on the phone, thought CZ would rape everyone but them. Schmucks.


88 posted on 03/21/2009 3:53:11 PM PDT by NativeNewYorker (Freepin' Jew Boy)
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To: brewcrew
Targeting a small group of people with a tax is clearly unconstitutional

Another amateur constitutional lawyer. Bills of attainder are criminal, NOT tax laws.

89 posted on 03/21/2009 3:54:09 PM PDT by jude24
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To: freekitty
I don’t believe this because they are part of Obama’s money laundering team

So? Obama has a history of throwing his own people, even friends and relatives, under the bus when its convenient: Rev. Wright, Joe Biden, even his "racist white" grandmother and his Kenyan brother.

Oddly enough, the only person he's never, to my knowledge, thrown under that bus was Bill Ayers. Wonder why?

90 posted on 03/21/2009 3:57:03 PM PDT by Behind Liberal Lines
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To: OH4life
The catch is, if they had of elected someone who hadn’t of bailed them out, they’d all be unemployed anyway right now. Nearly all of these places would have gone under. They were F’d no matter what happened.

But now they are F'd and so are we, and our great-grandchildren.
91 posted on 03/21/2009 4:01:28 PM PDT by Arkinsaw
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To: Behind Liberal Lines

I bet they donated big money to put commies in office. Karma.


92 posted on 03/21/2009 4:01:56 PM PDT by TigersEye (Cloward-Piven Strategy)
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To: Behind Liberal Lines

The problem with this new “law” when it passes is that a lot of Repubs voted for it as well.

So the blame will go both ways, but the media will do everything in their power to say it was a Repub bill.


93 posted on 03/21/2009 4:04:24 PM PDT by CapnJack
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To: Behind Liberal Lines
It looks like the "variable" part of the compensation strategy on Wall Street is about to become a lot less variable. ;-(

Well, at least this should serve as an abrupt wake-up call to those people foolish enough to vote for the Kenyan Clown.

He's a radical leftist: his history shows nothing else, and he has done nothing in his first 60 days of office except publicly re-affirm his commitment to "spreading the wealth."

94 posted on 03/21/2009 4:06:55 PM PDT by snowsislander (NRA -- join today! 1-877-NRA-2000)
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To: NativeNewYorker
So Commander Zero didn’t even wait two months before throwing his biggest class of financial backers to the wolves.

Yep. It just reinforces my belief that he knows he is a one term President and therefore has nothing to loose. He will do as much damage as possible and then “blame the Republicans for being partisan” when he is rendered useless in the 2010 elections. The communists will wail and moan about the evil Republicans that destroyed their hard work at creating the perfect socialist, er… democratic utopia.

95 posted on 03/21/2009 4:12:51 PM PDT by TLI ( ITINERIS IMPENDEO VALHALLA)
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To: Behind Liberal Lines

Has Warren Buffett complained lately that he doesn’t pay enough taxes?


96 posted on 03/21/2009 4:15:03 PM PDT by Mamzelle (Boycott Peggy Swoonin')
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To: Behind Liberal Lines
These douche bags are lucky to even have a job. If the government had let them go into bankruptcy like they should have most of them would be on the street without their precious little contracts. The sense of entitlement that these under performing losers have is outrageous.
97 posted on 03/21/2009 4:29:22 PM PDT by Tempest (The Republican party racing to lose 2010)
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To: taildragger

You’ve got that right. Before doing business with any financial institution you should check their political donations and see if they have any brains at all.


98 posted on 03/21/2009 4:31:20 PM PDT by TigersEye (Cloward-Piven Strategy)
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To: taildragger

Damn right. This is why most white people voted for him - Bambi was the “in” thing and probably made them all feel good about themselves to boot. Hardly anybody who voted for him voted for sOcialism, they voted for him because they treated the election like American Idol. That’s the part that pisses me off the most.


99 posted on 03/21/2009 4:43:29 PM PDT by jr.ewing.78
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To: Behind Liberal Lines
“[7u&k] Obama,” one person said aloud on the floor, giving voice to the feeling of political betrayal.

YOU VOTED FOR THE THUG. ENJOY THE FRUITS OF YOUR LABOR AND GIVE IT TO HIM!!!! You got what you voted for pal. Suck it up and kiss his skinny @$$. He took you to the tank.

100 posted on 03/21/2009 4:44:58 PM PDT by RetiredArmy (Destruction of the US Economy: Obama's Global War on Prosperity!!!)
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