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High Noon for Goldman Sachs

A couple of days ago, Alice Schroeder wrote a piece at Bloomberg about a friend of a friend who works at Goldman Sachs. Apparently the bankers are getting a little nervous about blowback from the working class.

“I just wrote my first reference for a gun permit,” said a friend, who told me of swearing to the good character of a Goldman Sachs Group Inc. banker who applied to the local police for a permit to buy a pistol. The banker had told this friend of mine that senior Goldman people have loaded up on firearms and are now equipped to defend themselves if there is a populist uprising against the bank.

Schroeder was also able to get confirmation from the NYPD that a number of bankers have been getting gun permits. Wow, I’m glad to know the Goldman Sachs guys are running scared. Schroeder notes that Goldman’s CEO, Lloyd Blankenfein (whom she nicknames “Cool Hand Lloyd”), has been nervous for quite a long time. Get this–he installed a security gate at his house a couple of months before Bear Stearns went down. How very prescient of him. Schroeder writes:

…talk of Goldman and guns plays right into the way Wall-Streeters like to think of themselves. Even those who were bailed out believe they are tough, macho Clint Eastwoods of the financial frontier, protecting the fistful of dollars in one hand with the Glock in the other. The last thing they want is to be so reasonably paid that the peasants have no interest in lynching them.

Hmm…I like the movie references. So the bankers are resorting to guns so they can make A Few Dollars More before the proles can Hang ’em High?

According to Peter Cohan of Daily Finance, what is making the bankers so anxious is that they will soon be getting their outlandish end-of-the-year bonuses, while the rest of us struggle to make ends meet and have no idea how we’re going to buy any Christmas gifts. Cohan writes:

Once news of the final tally on Goldman’s bonuses breaks, the bank is going to face an even tougher public relations campaign. Goldman’s partners are expected to receive record bonuses this year. Some bankers fear a repeat of what happened in March to the AIG Financial Products employees who received $165 million in bonuses. Once word got out about the bonuses, demonstrators went to the employees’ homes and protested on their front yards.

What Goldman execs need to remember is that the firm wouldn’t be doing so well if it weren’t for the public’s munificence. After all, $12.9 billion of the AIG bailout money went to Goldman. And it is still enjoying $52 billion in low-interest loans from the U.S. government to finance its trading profits.

Cohan even argues that Goldman should be offering reparations to people who have lost their homes and jobs. Somehow I don’t think that is going to happen, but I’m glad to learn that these thugs in three-piece suits are feeling a little bit edgy.

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Der Kriegsnobelpreisträger*

Warmonger-in-Chief


From Robert Scheer at Truthdig:

HERE WE GO AGAIN

It is already a 30-year war begun by one Democratic president, and thanks to the political opportunism of the current commander in chief the Afghanistan war is still without end or logical purpose. President Barack Obama’s own top national security adviser has stated that there are fewer than 100 al-Qaida members in Afghanistan and that they are not capable of launching attacks. What superheroes they must be, then, to require 100,000 U.S. troops to contain them.

The president handled that absurdity by conflating al-Qaida, which he admitted is holed up in Pakistan, with the Taliban and denying the McChrystal report’s basic assumption that the enemy in Afghanistan is local in both origin and focus. Obama stated Tuesday in a speech announcing a major escalation of the war, “It’s important to recall why America and our allies were compelled to fight a war in Afghanistan in the first place.” But he then cut off any serious consideration of that question with the bald assertion that “we did not ask for this fight.”

Of course we did. The Islamic fanatics who seized power in Afghanistan were previously backed by the U.S. as “freedom fighters” in what was once marketed as a bold adventure in Cold War one-upmanship against the Soviets. It was President Jimmy Carter, aided by a young liberal hawk named Richard Holbrooke, now Obama’s civilian point man on Afghanistan, who decided to support Muslim fanatics there. Holbrooke began his government service as one of the “Best and the Brightest” in Vietnam and was involved with the rural pacification and Phoenix assassination program in that country, and he is now a big advocate of the counterinsurgency program proposed by Gen. Stanley A. McChrystal to once again win the hearts and minds of locals who want none of it.

The current president’s military point man, Defense Secretary Robert Gates, served in Carter’s National Security Council and knows that Obama is speaking falsely when he asserts it was the Soviet occupation that gave rise to the Muslim insurgency that we abetted. Gates wrote a memoir in 1996 which, as his publisher proclaimed, exposed “Carter’s never-before-revealed covert support to Afghan mujahedeen—six months before the Soviets invaded.”

Carter’s national security adviser, Zbigniew Brzezinski, was asked in a 1998 interview with the French magazine Le Nouvel Observateur if he regretted “having given arms and advice to future terrorists,” and he answered, “What is most important to the history of the world? The Taliban or the collapse of the Soviet empire? Some stirred-up Muslims or the liberation of Central Europe and the end of the Cold War?” Brzezinski made that statement three years before the 9/11 attack by those “stirred-up Muslims.”

Lot’s of people have questioned whether Obama has a long-term relationship with Zbiggie B. dating back to his days at Columbia.  I dunno, but there are lots of names in Scheer’s piece I associate with “massive fail.”

BTW – I quit reading Truthdig last year when it went full Kool-aid. I guess it didn’t work out so well for them.


*That’s German for “The Nobel Peace Prize Warrior” (h/t MABlue)

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