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And, yes, I DO take it personally: A holiday salute to Dear Leader, Goldman's Lloyd Blankfein
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Wednesday, December 16, 2009

A holiday salute to Dear Leader, Goldman's Lloyd Blankfein

behold and contemplate the face of greed, the one to whom we all must bow... make no mistake, he and his kind are the REAL world powers, snapping up wealth and power at every turn, never mind that nearly 20% of the u.s. workforce is unemployed, that one billion people in the world don't get enough to eat, or that american citizens are footing the bill for their insatiable thirst for more and more money...

Lloyd Blankfein, CEO, Goldman Sachs
Mark Lennihan/Associated Press

check the headline... an ETHOS...??
As Goldman Thrives,
Some Say an Ethos Has Faded

...Mr. Blankfein has built a money machine that, while it still values its customers, culture and reputation, puts profits above all.

Interviews with nearly 20 current and former Goldman partners paint a portrait of a bank driven by hard-charging traders like Mr. Blankfein, who wager vast sums in world markets in hopes of quick profits. Discreet bankers who give advice to corporate clients and help them raise capital — once a major source of earnings for Goldman — have been eclipsed, these people said.

and some worry that goldman has become LESS PRINCIPLED...??
Mr. Blankfein is now presiding over one of the richest periods in the bank’s 140-year history. Mr. Blankfein has accelerated a decade-long decline of Goldman’s old partnership ethos, which was built around the principle that its bankers and traders can do well — indeed, very well — while putting their customers first, former partners said.

Some Goldman alumni worry that Mr. Blankfein is jeopardizing the culture of success that defined the bank for much of its modern history. They wonder if Goldman will become, as one former partner put it, “just like every other bank on Wall Street” — that is, focused on short-term profits rather than long-term gains.

oh, puh-l-e-e-e-eze... the only thing that's different is that the definition of long-term and short-term has changed dramatically... all goldman has done is evolve from a world in which you had to wait six months to a year to realize obscene returns to a world in which obscene returns can be achieved in mere minutes... oh, yeah, and they're NOW doing it openly on the backs of the people AND it's being called for what it is by goldman's hometown paper, the nyt... there has never been any guiding principles other than money, power and a bottomless well of greed for more of both... gimme a break...!

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