April 14 (Bloomberg) — Goldman Sachs Group Inc., buoyed by better-than-expected earnings and a 54 percent gain in its stock price, raised $5 billion in the largest stock sale this year to help repay $10 billion in government rescue funds.
I’m no economics expert, but one thing is clear about this Goldman Sachs thing - it stinks to high heaven!
Okay, first they help run our economy into the ground. Well, not them specifically, or rather, not all of them, but a lot of them, right? And then they had to stop being an “investment bank,” which is just like them, isn’t it? To sort of stop being the thing that makes money that turns out not to be money and instead try to be a thing that makes money that IS money. Sure, nice plan, Sachsy!
Anyway, the real problem is that these guys took our bailout money - just TOOK it! And now they’re giving it back. I’m not economist - but what!? Why? So they can continue to pay out those big bonuses! Not just because it’s money they owe, believe me on this one, though I could be wrong and whose fault is that!?
And what about the bailout money that they got through AIG? That was like $12 billion, but is that part of what they’re paying back or is that money that AIG actually “owed” them because they owed a lot of people money because of the dirty, bad bets that they were making? I’m not an economics professor, but I know that I don’t know the answer to that one, and what does that say about our financial system!?
I don’t have a degree in economics, but I feel pretty safe in saying that this whole damned business of “finance” is geared towards making those fatcats rich. And the only thing more galling than seeing them flounder and drag us down into a recession is seeing some of them STOP floundering. And don’t tell me that this is a sign that we all might be getting out of the recession at some point - I may not be an economics major, but I’m not falling for THAT old line.
So stop telling me that this is going to be solved by bailouts and restructuring and reform, or that MY future is somehow tied to these bloodsucking evil leeches! I may not understand Thing One about the economy, but I know that this is not the time to let “cool heads prevail” and “educate myself” about finance so that I “know what I’m talking about.” No, that time is past - now is the time to get angry! Who’s with me?