Goldman Sachs is being sued by Security Police and Fire Professionals of America Retirement Fund, an investor in GS. According to the Village People, the bank is going to “blindly reward” its directors with profits that were not made through “hard work” and had “nothing to do with the skill of the company’s employees,” but merely the generosity of the US taxpayer. This seems unfair because 1) did they not see the news that in a huge display of nothing but love for the people, Lloyd and his back-up dancers, the Golden Scrots, will be receiving no cash bonuses this year??? and 2) please don’t diminish the many hours Goldman employees spent crafting the perfect saddle on which to take turns riding Tim Geithner around the trading floor. Talking like hundreds of dozens here.
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- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
Village People tag FTW!
Please please please photoshop immediately.
http://media.photobucket.com/image/backup%20dancers/kelly_usa/britneyspears-circus-24.jpg
Dear God. My eyes. They burn. I cannot compute what I am seeing. Exceeds reason.
-QuantQuant
Or they could just STFU and dump their shares, but whatever.
I agree.
Working 120 hours a week isn’t working hard, who do you people think you are!?!?
Idiotic comments about fat cat bankers, socialists, liberals, and how not _everyone_ at GS has a Maserati in 3…2…1…
@6 what the hell are you talking about? are you under the impression this is the nytimes?
Figures, all these idiot fat cat bankers want to do is drive around in their Maseratis and spit on Black people while bathing in beluga caviar and Dom Perignon.
How do you sue God?
Nothing like the photoshop job for JD as Springsteen. That was uncanny
@4. They are exercising their legal rights are shareholders of a public company. If you just replace “union” with “activist shareholder” perhaps your penile sensibilities won’t be so offended.
How do you get a job with G_d or his discliples?
I am Canadian.
@11 – Idiot. What activist shareholder in their right mind would file a frivolous suit filled with rhetoric…it’s biting the nose to spite the face.
Example of baseless poo:
“blindly reward” its directors with profits that were not made through “hard work” and had “nothing to do with the skill of the company’s employees,”
@14 – Why are you being such an asshole today?
Why?
Goldman’s “water fountains” are actually “Domy P fountains”…wait ’till people find out about that!!!
@11, second 14, but more to the point– what activist investor in his right mind would file a lawsuit against management in a company whose stock was up 93.92% year-to-date?
@16 – Even in the JC office?
@14 I agree that the reasoning behind the suit is bogus. However, I don’t think it is unwarranted. I think there has been a misalignment between shareholders and employees. I mean most of the top employees are going to be making a lot of money this year (albeit in mostly stock) where as shareholders have lost money since the share price peaking at around $200.
@15 – My penile sensibilities were offended, it happens, my B.
not quite sure I even understand who specifically they are suing? an asset manager who put them in GS stock (such a poorly performing stock, I know… the scandal!!!) or are they suing GS whose stock they own (in which case they are damaging their own investment)? not sure how either is rational
@19 So everyone who lost money by top-ticking a stock is justified in suing management?
@23. That’s not remotely what he said, penile.
@ 19 – then they should’ve bought in when GS was at $47
So, if it wasn’t for the skill of GS employees, this pissant SEIU wanna-be union would have lost all of its investment if GS collapsed.
Ok, I feel better now. Can I touch the Golden Scrot? Just once?
-mrp
again, if poor people would just pay their fucking bills this whole mess would be over
@8 – you left out some key concepts. Try again, and incorporate each of the following:
-Ivy League
-Models
-Hampton Houses
-Greenwich, CT
-$2,000 suits
-Rape and Pillaging “Main Street”
Thank you.
If Warren decided to drop his cock and make DQ (or KO) start selling things that were good for you (instead of causing you to part with your money for calories) he could do it. So if the VP decide they’d rather not have their GS employees bonus themselves to death they can try to do it.
Non judgmentalist
@Mr. P
Exactly (/sarcasm)
I’ve just been screwing around on teh interwebs, and I can’t seem to find a website for this alleged “fund.” Don’t such funds have to make this info publicly available (ala CalPERS, etc?)
Oh, and their website has a sweet chart that clearly shows what a drain Unions are on the economy, check it out:
“Union Pay Is Higher in All Occupational Groups”
http://www.spfpa.org/howtojoin_benefits.html
@ 20- Who said they do. Please tell where you got this from. More to the point get your facts straight before posting.
@28. It seems someone else did it for me:
http://gawker.com/254812/i+banker-does-profession-proud-is-titanic-douche
@28, allow me to take a stab at it since i’m bored and FI is done for the day:
“Figures, all these Ivy League fat cat bankers want to do is drive around in their Maseratis, spit bottle service champagne on Black people while bathing in beluga caviar. They also fuck models while raping and pillaging Main Street to buy their $2k suits and compare the size of their dicks out in their Hampton mansions while underpaying some Black woman to clean their 65 toilets in Greenwich.”
How was this attempt? Fail? Greg-Fail?
-mrp (not a pitchfork carrier, but rather someone who’d love to shove a hot poker up Joe Sixpack’s ass)
This can’t be good. LB gunna be mad. Lightning bolts are gunna shoot out dat gold scrot and Typhoon winds that Zeus himself would be proud of are gunna shoot out his anus.
you been warned.
Chazzy “The Scooper” Gizzle
@28 u for 10% unemployment in NYC and NJ
@10 that was Photoshop?
I think that was pretty good @33.
I think I will now go and spit bottle service champagne on the first black person I see.
Baller
This lawsuit isn’t about the stock price; it’s a breach of fiduciary suit claiming that the board is misusing the corporation’s assets (which belong to the shareholders) by paying out large bonuses to allegedly undeserving employees.
Not saying the claim is valid (it’s not), but it has nothing to do with current or future stock price.
They know nothing! They should be suing GE!
Jimmy “The Freak” Cramer
We pride ourselves on all the hard work our highly-skilled employees put toward taking advantage of the generosity of the US taxpayer.
Someone should ask them whether they made money on their investment in Goldman this year. If so, then STFU.
We’d like to make a political statement about compensation, wall street fat cats and how Goldman is a terrible company, but at the same time we won’t divest from our position.
Filing under union blow job.
Check out their logo, Che would be proud:http://www.spfpa.org/stor/large/mousepad.jpg
@22 it clicks the link, reads the article or it gets the hose again.
Lloyd Blankfein killed Oral Roberts just because.
@32 The douche said he *bought* his blackberry at a cingular store? Ridiculous!
@33 – that was much better. Less vitriol than an ideal populist rant, but not bad. Perhaps missing something about the ILFCBs are doing it all with bailout money and how you pay their salaries via your taxes.
@35 – d00d – wtf u tlk boot? i no u r a 7331 h4z0r, but i dont getit. kthxbye.
–28
@32 The douche said he *bought* his blackberry at a cingular store? Ridiculous!
Is it wrong that I just took a dump in the ladies room sink?
@38 So, if they instead paid out the bonus pool to shareholders in the form of a div, would the holders of these “at-risk-equity-units (or whatever they’re called)” that LB and co hold get paid a dividend?
Can’t find the case in the NY Court system yet, anyone else?
@48 it’s not very ladylike.
@48, stop reading Bros Like This Site and get back to work
@52, huh?
@49. It’s theoretically possible — I don’t know what rights come with those units. But assuming they did, the difference would be that they’re not getting a benefit that’s different from the other shareholders.
Oh sweet fucking Jesus, if only B.J. Kang could send them all away!
Why doesn’t the Security Police and Fire Professionals of America Retirement Fund just sue the U.S. Government for accepting such an abnormally-high interest rate (23%) on its temporary loan to Goldman that was already paid back to the public?
@30/Anal. Did they just decide to draw whatever height bars they felt like on that graph, regardless of the figures? More quality union craftsmanship.
@Anal_yst – case wouldn’t be online yet – especially if it’s in state court. Needs to have an initial conference first. Lot of class warfare talk coming from the finance peanut gallery lately – veewy scawy. @56 – easy to pay back a loan with a 23% vig when you can borrow at 0%.
@Anal_yst – case wouldn’t be online yet – especially if it’s in state court. Needs to have an initial conference first. Lot of class warfare talk coming from the finance peanut gallery lately – veewy scawy. @56 – easy to pay back a loan with a 23% vig when you can borrow at 0%.
@57
Also, apparently non-union latinos make negative $, women barely break-even, and the chart has no data labels or Y-axis titles.
Considering it should have been a cut & paste job from the Gov’t report, this is pretty impressive.
@8… Dude it’s “white” fat cat bankers… no one seems to get that right lately. Us damn WHITE fat cat bankers! Prez jOke looked like he said a word right before he said “fat”, but the speedy 60 Minutes editors caught it, and rescued hoof in mouf again.
@61, come on, like it’s “WHITE White Supremacists?” Some things are just understood.
@60. Your Excel charts skills are astounding.
@Anal – I’ve been trolling the NY Court system. Atlas, I have failed you.
@28 – You’re saying this to the guy in the $6500 suit? COME ON.
Yeah, fuck those fat cats with their taxpayer-funded bonuses that they get for doing nothing!!!!! The Village People would never accept taxpayer-funded bonuses!!!
Oh wait . . .
http://www.metro.us/us/article/2009/12/15/02/4421-82/index.xml
. . . nevermind.
P.S. Anal_yst, hope you don’t mind the homage in the name, if you do, I’ll drop it.
Perhaps Taibbi got it all wrong with the “vampire squid” thing.
Goldman is more of a gluttonous and voracious pig that’s been whipped into a feeding frenzy—wallowing at the table of bacchanalian greed, gorging in an unintended trough from bailout billions, and stuffing its face on a one-way ride toward a massive case of gout.
Leave it to a police and firefighters’ fund to call them out. http://acrimoney.com/2009/12/15/tweet-goldman-bonuses/.
@28 you forgot the sacrificing of christian babies and drinking their blood.
if these f-rs think it’s so easy to make money, why don’t they try?