According to Dylan Ratigan from MSNBC: "How did Goldman, Sachs & Co. -- saved a year ago by the US taxpayer -- magically make $3 billion in 3 months a year later This as the US dollar collapses, unemployment soars and foreclosures hit a record Here is the Goldman, Sachs & Co. revenue break down for the past 3 months: * Financial Advisory-M/A: 325 million. * Equity Underwriting: 363 million. * Debt Underwriting: 211 million. * Trading-Principal Investments: 10 billion. Notice that 10 billion is much bigger than two or three hundred million made from the traditional Wall Street businesses. That $10 billion is evidence of their magic trick. For we the taxpayer gave Goldman Sachs the following: 1. 10 Billion in TARP 2. 11 Billion from the Fed 3. 30 Billion from the FDIC 4. 13 Billion from AIG For a grand total of $70 Billion (Goldman along with every other bank and AIG would have been defunct without this money). Goldman at the apex of the crisis is delivered this money -- which they then use to borrow against at $20 or $30 for every $1. Which at 30x equals $2.1 trillion in available capital. As one of the only banks in the world with money at the time, Goldman Sachs was able to buy billions in distressed assets around the world at record low prices -- only to watch $23.7 trillion in US taxpayer money be deployed during the past year to re-inflate the asset's values that Goldman had purchased with our tax money. The question is not why did we bail out the banks. The question is why did we give the banks billions of our money so they could then buy assets by the trillions with our money and they keep the profits The answer is Henry Paulson, former Goldman Sachs CEO who ran the US Treasury, and Tim Geithner, current Treasury Secretary who at the time ran the New York Federal Reserve, willingly delivered Goldman Sachs the $70 Billion -- with no strings attached. So what can we do 1. We must demand the return of those investment gains made with America's money - it was stolen from us and we can get it back. Demand Claw Backs - and not from the future but from the past - That is where our money is." Why do the executives at Goldman Sachs deserve more than other hard-working Americans Why are their no collection agencies harassing them to pay the debt they owe to the American people Sign below to make your voice heard. Every signature counts. Commenting on blogs, news sites and between our friends is not going to cut it any more. Let's band together and show our federal government that we are appalled at their refusal to budge from behind's Wall Street's shadow. Sign this petition and PASS IT ON. They have recovered, and so should we!
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Michael Rogers, United States5 years ago
Philip Taylor, United States5 years ago Comments: Goldman took $70 Billion from our Government and we want the return on leveraging of 30 to 1 on that amount!
Ethan Rothschild, United States5 years ago
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