Thoughts? Opening reaction– disappointed in the lack of Blankfein shout-outs (especially since Gary Cohn canceled a lunch to make this thing) and not enough jokes.
Comments (104)
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he sounds like a 3rd grade teacher trying to make kids feel bad.
“shout outs” should be a tag.
insert 1933 quote here, pragmatic rhetoric here, and FIST PUMP FOR THE PROLETARIAT HERE
There’s a new sheriff in town pole-smokers!
Terrible speech as there was no shout out to me.
Steve Berkenfeld
Fat Cats are terrible unless they are giving this jerk money.
Fat Cats are getting bonuses while the corporation are hurting and taking tax dollars! How is that different then the the govt workers getting pay raises and the Post Master taking a huge bonus while the govt is broke? Dont they get paid in tax dollars?
I have no problem with WS taking some punches. My issue is when will the SEC, Barney Frank, Dodd, Obama take their share of the blame? What about Fanne and Frdedy?
When will the unions take blame for GM and the destruction of the auto industry. Obama’s plans are total shit and completely based on political aspirations.
How is this guy telling WS about fiscal responsibility when he has a multi-trillion dollar debt. He is a disingenuous, clown.
Who gave him all that political donation money?
Damn it feels good to be a Russkiii….
Talk about shitting in your own bed!
@6 – Which “grassroots” movement is paying you to post on websites? I went to a “tea party” the other night in Chelsea and it was just a bunch of dudes in crotchless underwear. What gives?
Until Obama eats 7 KFC DDs in under 30 mins his words mean nothing to me.
political theater
Financial transactions weren’t hidden from regulators. The problem is regulators couldn’t find their asses with both hands and a flashlight. It was there to see, they just did not do their jobs.
If he wants to know about hiding transactions he should ask his good friend, Frank Raines. No accounting irregularities or outlandish pay there. I seem to remember that even after he was gone Fannie still couldn’t issue audited financials. But it’s all good; Barney Frank didn’t see any systemic risk from what was going on there.
Also, is seems that when he got money from financial services firms it was good, now that it’s going to his opposition it’s bad.
http://www.bloomberg.com/apps/news?pid=20601039&sid=aWUolZvh4qmE
Obama had several coke-fueled gay encounters in a car when he was an IL state senator. look it up.
lack of jokes? osama’s the biggest joke out there
@6 – you smrt. We gon’ git us a good whit guy to straytin things owt in this cuntry. I dunno when FANNE and FRDEDY are gon git thair blaim. I also ugree that Obama is doin all this for his pulitikal ASPIRATIONS. After all, one day, he wants to be be prezidint of the Universe. Bein the Prez of the cuntry right now is just a steppin stone. Buy the way, iz you goin to the freedum rally tonite over at Cletus’s ranch?
16 = Alex Pareene
I have grown to admire and respect Patrick Chewing.
-Dick Veiney
This is OUTRAGEOUS! As if the random running of bulls, waking / forced hibernation of bears, the laming of ducks and other torture wasn’t enough, now the shady practices on Wall Street are resulting in a feline obesity epidemic! Forget the SEC, we need to call in the ASPCA, and quickly!
Will the egregious behavior never cease??
–Mark Klein, M.D.
16- not funny. Take a lap and try again.
Ladies and gentlemen, if this clown does actually work in finance, I present to you exhibit A of the type of individual that donates money to the dems only to later get bent over by them.
I love this guy preaching about hubris and fat cats…wish I had as many rounds of golf in as he does…
@ b2b MD
Especially so if it were possible without the years/decades of job experience…
The writer of #14 should know. He’s still working as a coke- and meth-fueled tranny in Lakeview. Only now he’s moved on from small-fry politicos to the big boys at Citadel (K.G. baby!).
His tell-all with Ashley Dupre (“Stooping to Conquer”) will be published next month.
@20 – thank you, my friend. If we could just ease people like that socialist, marxist, mocking evil-doer listed as “ubiquitous” @16 into a nice long dirt nap, this country could once again attain its status as a shining city on a hill. By the way, ubiquitous is, of course, an anagram for loquatious communist – seriously, think about it. The conspiracy is out there in plain sight for all to see! Wake up America and see the enemy before you. The evil is knocking at your door in sheep’s clothing. But this particular sheep is a black man with the loquatiousness of a communist seducer. Don’t fall for it!
@6
Government workers are not paid with dollars raised from taxes, they’re paid with freshly printed dollars or dollars borrowed from China (neither of which count if my economic advisers are to be believed). Behold the beauty of a fiat currency. Otherwise, if the government were forced to constrain it’s spending to even a multiple of tax dollars, then the federal government wouldn’t be able to sustain its role as employer of last resort for the less fortunate among us (e.g. everyone at the SEC, Congress, et al). That said, I guess it is somewhat discouraging that federal government is also this country’s largest employer.
@12
You make a good point. The obvious solution to the problems you’ve noted is more regulation. If you’re implying we should create several new regulatory bureaucracies (staffed with thousands of America’s worst and worthless – thereby reducing the unemployment rate) to oversee the existing regulators, I think you’ll be pleased to see what I’ve got in the works.
Keep hoping for (spare) change,
Barry O.
what a bunch of kabuki theatre — just more of the same political CRAP we have come to expect from The Chosen One. A couple of bows to the proletariat, a feigned “shocked, SHOCKED to find gambling in this establishment” expressions, and then to paint your opponents in the most negative light — if they aren’t on your side they must be fools or ne’er do wells. But at least TARP will last forever!
Gee, if those “wall street fatcats” are so bad for America, I wonder if he will quit taking their money? Or quit sending his chief of staff to meet with him (yes, MSM, Rahm the wonder boy met with many of the same folks Sen McConnell did to talk about financial services – I didn’t hear Obama call out his CoS for that one…)?
Nope, you are getting what you asked for, America. Great speeches, soaring rhetoric (with a side of character assassination for his enemies) and debt from here to eternity.
PS – this reads a lot better if you can do it “Dennis Leary” style
@24 Glenn Beck, can you please use spell check? Loquatious? WTF. No wonder Wall Street is done.
I said it before and I’ll say it again, “Lloyd Blankfein is a shitheel”.
Life is ephemeral, debt is forever.
Rick Santelli @24, Bravo!
I like it when Obama does his Dramatic Readings. I just wish there was some sort of musical accompaniment, like there is in a Japanese Kabuki show.
@25, are you fucking retarded? Fiat now owns a great deal of equity in Chrysler. Please do your research before spouting off, particularly with regards to things you know so very little about (namely fiat) – http://abcnews.go.com/WN/story?id=7806389&page=1
@24- Spell checking would be nice before posting. I believe you mean “Loquacious”
Not 27
@27 = communist collaborator.
It never ceases to amaze me how brutally hypocritical finance people posting on this site seem to be. You can call Obama whatever you want (including communist, which truly displays ignorance) it does not change the facts of where we are and what happened.
1. over the last 20-30 years we have seen real profits shift from the “makers” to the “intermediators” of things, most of all to financial intermediaries
2. tax rates for these intermediaries have been dropping and are at the lowest rates in history.
3. it is these financial intermediaries that have argued that less regulation frees them of the burden to explain arcane details to idiotic, lazy government employees. Net effect should have been a more efficient system less prone to crashes (market always knows best)
4. financial intermediaries (you know who you are) blew themselves up in spectacular fashion. Hat in hand they asked for government funds, it was “the right thing to do”.
5. the storm passes, 4-5 major players emerge from wreckage even more powerful than before
6. when regulation comes up (the natural thing by the way), the same hat in hand beggars have the guts to cry foul, use terms like communism, complain about their tax rates and arrogantly claim that they “know better” and are “smarter” overall
I work in finance as well, but at least I have a sense of decency.
That guy.
For example, during selected portions of the Obama Kabuki Show, an Odaiko drum should be used to emphasize a particularly profound point, like this (click on the pic of the Odaiko Drum):
http://park.org/Japan/Kabuki/sound.html
um, just to break the “Luke, I am your father” news, @16 and @20 are the same person. So, sorry @30, I thought people would get the joke, but I am not serious about the post @20. I’m mocking the Glenn Beck / tea-bagger jackasses.
sorry, I meant @16 and @24 – @20 is the tool.
Mock them all you like 37. They’re not the current phony in chief running the country. Talk about a liar with a teleprompter!
Surely this guy worked at Nomos Capital and not the venerable Goldman Sachs? And what a douche, he writes this book and still has the balls to work in the industry? Bet all his clients are fleeing for fear they be written up in the next tome.
http://www.thisislondon.co.uk/standard/article-23827022-city-banker-who-visited-brothels-was-salesman-in-goldman-sachs-fraud.do
City banker who visited brothels was salesman in Goldman Sachs ‘fraud’
http://vimeo.com/3863317
@35 – Just because you are a bank teller at Chase doesn’t mean you work in Finance. Go fuck yourself, minion.
@16 wow that was hilarious. Depicting me as a hick is interesting though. You know, since it seems like I am on the side of capitalism, free market enterprise, lower taxes with less govt intrusion and SPENDING CUTS to entitlement programs and ear marks.
It seems like you are on the side of big govt, more taxes and huge spending sprees so you can take other people’s hard earned money and hand it off to people who dont’ even pay taxes.
Now you can call me a hick all you want. I have no idea why but ok. You clearly have no argument.
Just tell me what you call someone who defends this govt that takes over free industry while creating a governing elite. A group that has the former head of the world’d biggest union (the largest contributor to the Obama campaign as its advisor.
As for the Tea Party. You can say what you want about them but as a whole they make more money and are more educated then the rest of the nation. I guess you know that and thats why you hate them. I realize the Tea Party is nothing t compared to quality of the Nancy Sheean, Al Sharpton, Van Jones, Louis Farrakhans or Rev. Wrights of the world. I guess you think those guys are pretty intelligent.
People like you are just what Obama is counting on. Your boss should fire you over there at the SEC for being on this site.
why isn’t he chastising the auto industry for making shitty cars? they needed a bail out too…their unions are still paid extremely well. wtf?!
@10. Obama. Double Downs. Wall Street Cred. Think about it. I concur.
How about ‘em Yanks, eh?
@35 what the fuck are you talking about? You think Obama gives a shit about regulating the industry to avoid future crises?
Are you that naive?
If that were true he would be regulating Fan & Fred. If his main objective was making this country stronger. He would be forcing unions to take cuts and stop draining the auto inusdtry. Where is his blame for the mess, when he was an IL senator pushing banks to make these ridiculous loans to undeserving people? You exempt Barney Frank? Tim G who was the SEC head for NYS? I mean how do you not see what is going on here? The sham is over.
Change= redistribution of wealth and a complete reorganizing of this nation’s ideals. You can be for that if you want. I dont know what that means for a “guy in finance” future. I can assure you this. When Obama gave that speech today you were just about the last kind of person he cares about.
He is loving your support though so keep that that WS money coming!
I am actually not in finance nor a member of the Tea Party.
-Just a NYC Guy tired of the bullshit coming from this clown
@35 I believe the transfer of weath from the “makers” to the intermediaries is due to the rampant increase in technology.
Pfluger – I hope Bess bans you from commenting soon – you are starting to be as unfunny and annoying as TGFD
@49:
Sorry I didn’t have a chance to get back to you yesterday. The committee has reviewed your comment, and decided that you are an idiot.
Mr. AWESOME,
Your argument is Awesome. George Bush was Awesome. Sarah Palin is Awesome. Fox News is Awesome. Repeating the latest talking points from Fox News about the education level of Tea Party activists is awesome. Rush Limbaugh is awesome. Unfettered free markets are awesome. Bear Stearns was awesome, Lehman Brothers was awesome, Washington Mutual was awesome, Wachovia was awesome, Citigroup was awesome, Merrill Lynch was awesome, Countrywide was awesome, AIG was awesome. Deciding that only Fannie/Freddie and Unions caused the credit market collapse is awesome. Believing that banks are victims and not the cause of the collapse is awesome. Deregulation is awesome. NO regulation is better than awesome. Bankruptcy is awesome. Government bailouts so people like Mr. Awesome can keep his job in finance are awesome. Goldman Sachs and JP Morgan borrowing at zero percent interest is awesome. Bank welfare is awesome. Capitalism on the crutches of the taxpayers is awesome for banks, not for anyone else. Being awesome is awesome. Putting a square mustache on pictures of Obama to look like Hitler is FUCKING AWESOME.
All this kabuki talk is making me hungry for a comfort girl.
More cowbell.
Wall St. Toast, more like it.
hell yes
default to mockery. looking at you @51
http://www.hardbodydaily.com
@53 FTW!
found the kabuki jokes from “pfluger” to be amusing
others in this thread take themselves way too seriously
@51 I’m picking up sarcasm.
Let me use your framework for my communication to you.
No I disagree with you. I think Obama is awesome. He clearly is going to save us from ourselves. Its awesome that the same party with a majority in congress now also happen to be there during the WS fall and all of a sudden they have ideas to save us.
I find it awesome that Pelosi (who is extra awesome and Reid who is the most awesome guy in the senate) are using WS politically to stave off any of there share of blame for the financial melt down and of course totally obscure that Double Super Awesome medical reform bill’s. 32% of Americans think its AWESOME.
I think Andy Stern is awesome, and UAWE is awesome and the Teachers unions are awesome. I think, Bill Maher, ACORN, Van jones are awesome and Rev. Wright is awesome. I especially think Govt take overs of free markets/industry are awesome. Most of all i think people who dont question the motives of this radical president are awesome. I think the drop in income and raise in taxes with larger govt is awesome.
I think you are awesome. Now go back to your awesome union job.
What Wall Street did to this economy was more like Attila the Hun paying a Scourge of God courtesy call on Rome. Yeah, they blew in out of the grasslands, confiscated all the Imperial geegaws, set free the slave girls and lions, threw a testimonial dinner for themselves, and invented pig latin. Up-Pay gainst-A the all-Way, otherfuckers-May!! And sure, they can whine about their intentions. They might as well—they whine about everything else. And if they want to believe their intentions were pure and highfalootin’, and to live outside the law they must be honest, and all that other populist jive, go ahead…whine until you turn a merry shade of tangled up blue. You’re either living in accordance with arete or not, and no amount of weaseling or woosing or whining in the world gonna change that. FFF: Face the fucking facts.
@61 – wait, what?
Ubiquitous I suppose ad hominem attacks are also awesome. I think your caricature of everyone who disagrees with your chosen as a hick from the hills of Virginia is hilarious and desperate. Thanks very much for clarifying that you and the Glenn beck poster were the same person because it was an absolute brain-buster to deduce. The fact that I’m not American, nor do I reside in America, illustrates how much of an idiot you are to marginalize any voice of criticism as the “Glenn Beck crowd” which fortunately only resides in your USA which is being quickly and quietly transformed into BO’s ruinous utopia. I hope you’re enjoying watching the fall of the US with this a-hole at the helm.
still not funny 51…. take another lap and maybe bring your jovial rhetoric over to acorn.org. You’ll find a lot of likeminded individuals there.
-20
This is almost as good as a Pope post Bess. I never would have guessed it.
Less kabuki, more bukaki
@35 = true
@66= UNION WORKER
@35 (aka bank teller from Chase) = sanest person on this thread.
@61 Take a valium. And what, pray tell, is “arete”?
You can blather all you want. The fact is that 20 years of irresponsible politicians (of both parties) inside the I-495 Beltway have driven this country to the point that our debt-to-GDP ratio is about to hit the highest level since the end of the Second World War. I find it sickening that the Spokesman-in-Chief, rather than even attempting to address the problem, chooses to try to deflect the publics attention by conjuring up some phantom “Wall Street” types that with malice aforethought decided to tip the country into recession. The whole thing stinks to high heaven and has frightening echoes of the “stab-in-the-back” myth of 1920′s Germany– “we would have won the war, but the {fill-in-the-blanks-with-the-enemy-of-the-moment} betrayed us!”
@68= @35= 0
@67 = grubby IB analyst in cheeto-strewn cubicle
I stopped over at the Tea Party rally on the Boston Common last week on my lunch break and was fortunate enough to get my picture taken with an african american dressed up as Obama with a hitler mustache and nazi arm band…too bad it was done with my piece of shit camera phone
Lastly I like how BO has no problem with the ridiculous bonuses of Wall st. when they’re diverted to his compaign.
“wall street makes too much money and much more then they deserve” –>they foolishly give money to Obama campaign—> Obama campaign then deserves that money. It’s like moralistic money laundering in that you don’t deserve that money but if you hand it over to your local dem (or republican for that matter)and then voila legitmate, ethical earnings earnings.
@61 By the way, if you’re going to use classical references, at least get them right. Rome was not sacked by the Huns; in fact they didn’t get any nearer than the River Po.
I know… I wrote “earnings” twice. There, I’ve beaten you to the punch captian obvious.
As I said before, Obama was WS’s worst investment.
Mr Awesome,
Tim G was head of “SEC for NYS”???
@69- Arete is greek for virtue or moral excellence.
-not 61
Fed Reserve bank of NYC.
So what does that change?
Now what? Obama is suddenly the man?
GFYM
@35 Ignore the ignorant dolts on this board. You Rock! Best post on this board.
The rest of you clowns have the gaul to argue for free reign of the markets. You had it, you abused it, and almost took the whole world economy with you.
Go worship Cassano or something….you’ll never learn! Good thing Obama will put handcuffs on your sorry asses!
74 = Larry King
@80 As the Madoff implosion showed us. Investing is not just for the rich. Pensions, mortgages, corporate loans, VC investment….these all ride on WS’s ability to turn out profits.
i didnt see anyone (including the anointed one) complaining while WS was bringing it home. He profited from WS greed more then anyone. he got the office and a whole lot of mortgages for some really undeserving people.
I’m not saying there shouldn’t be reform. I am saying what Obama is proposing is NOT REFORM. It is a replacement of the power players.
THUS THE UNION HEADS AT THE SPEECH!!!
Obama is disguising his real agenda using WS and people like you are helping him. Reform is fine. An overhaul of our countries core belief system is not. This reform like med reform are going to destroy this country.
Obama bashes Wall Street yet he and the Congress refuse to close the loophole that allows members of Congress to trade for their personal accounts based on material, non-public information obtained as part of their official duties. Fucking hypocrites.
@80 “Gaul” is a Roman province. “Gall” is “outrageous insolence; effrontery.” And the phrase is “free rein,” meaning unrestrained, unbridled– like a horse without reins. “Reign” is what a King does.
-Ignorant dolt who can read.
That’s the hypocrisy?
How about the medical care the DEMS passed, that they WONT be using for themselves?
$140,000 a year Nobles running around DC.
UNREAL
MAYO
Mr. Awesome, seriously, did you fail English class? Here are a few tips for writing in the English language (’cause I know you’re definitely one of those USA, USA, LOVE IT OR LEAVE IT MOTHERFUCKER types who wants to speak the native language in defiance of all those Spanish-speaking immigrant fuckers who are destroying the country). When you are referring to multiple people, the pronoun is “their” not “there”. When you are contracting “it is”, you use an apostrophe: “it’s” not “its”. Also, why the period in mid-sentence? “As the Madoff implosion showed us. Investing is not just for the rich.” And dude, “An overhaul of our countries core belief system is not” – try “our country’s”! I mean, we all make the occasional typo and slip-up on here, but you’re making a mockery of the English language. I haven’t even gotten to all the sentence fragments. Maybe think about taking an ESL course? I know you right-wingers take a lot of pride in not giving a shit about all that fancy learning and what not, but for all of our sakes, please make an effort to write somewhat coherently.
Actually, wait a minute, this is all starting to make sense now….The horrible grammar, the sweeping generalizations, the repetition of direct quotes from Fox News talking points, the idiotic, 3rd-grader-ish super-hero moniker, “Mr. Awesome”…I think Mr. Awesome is actually….DUBYA. Hey Georgie Boy, welcome to the party! Tell us, what was it like to preside over the worst financial crisis in our lifetime? What was it like flying over New Orleans knowing that thousands of people died because of your incompetence? What is it like to know that you single-handedly ushered in a landslide victory to the Democrats in 2008? I have a feeling it doesn’t keep you up at night.
Wow, ubiquitous just PWNED Mr. Awesome. Hilarious.
@87 What it is like being an arrogant prick who can not (or perhaps chooses not to) counter an argument with facts, but rather resorts to denigrating the intelligence of those who disagree with you?
-Not @85
@87 Oh I see can’t attack the facts so you attack my grammar? i am not the best typer on this site. Never said i am.
I made some typos and don’t use the punctuation. So you are right, I guess Obama is amazing and the DEMS are correct. Your point is made.
However I am a bit under pressure you see. I just found out I have to pay for your healthcare and pension. So I have a lot on my plate.
Since you mentioned a landslide victory. I would say send your messiah a note now. The congress goes first in November. Then we take Jimmy Ocarter’s office in 2012.
Oh and one more thing- How do you know if I am directly quoting Fox News?
Maybe you watch…
Thanks @87 for taking some time to put that moron in his place. I read his drivel upto the point where he started throwing around terms like “core belief system” before I gave up.
Seems that PermaGuest and Mr. Awesome are the same person. One often seems to post soon after the other (@74/@76 and @84/@85 and @89/@90). Coincidence?
89 – please stop whining and grow a pair. This guy “Mr. Awesome” is all over this board slamming anyone who doesn’t agree with his radical right wing chest-thumping viewpoint. He’s a big boy; he can take some ridicule back his way. I’m just pointing out that he calls everyone else “naive” and feels the need to spit on anyone who disagrees with him and yet he’s clearly got some issues of his own. But hey, if we all agree to raise the level of discourse on this board, I’m game. Something tells me that’s not coming anytime soon.
@92 Yes.
-Not Mr. Awesome.
@91 oh yeah man way to be @87. I am converted…
Nancy Pelosi rules… We hear ya Barney Frank!!!!!!
Wooooooooo
yeah!!!!
YES WE CAN…
Hows that? Probably your kind of drivel.
Just pathetic.
Like the SEC release of GS charges kinda coincidence?
Sorry we are not the same person.
ACORN RULES!!!!!! Woooooo
@92 whether it’s one person or two, doesn’t matter. PermaGuest = Mr. Awesome = dumbass
@85, while I agree to a point that Obama’s “agenda” may not be the best solution for the current situation, I would have been a lot more inclined to side with the opposers’ arguments had such passionate rhetoric about “American values” been in place during the eight year tenure of the last president. I find it specious that while they held similar majorities, financial and medical reform languished until Obama started doing something about it, at which point they all seem to suddenly have an opinion about it.
-68,91
@97 that was not just articulate, it was profound.
YES WE CAN YOU ASSHOLE!
@98 There is a reason nothing was done about medical care. It cannot be tackled as one huge reform and actually Bush didnt have this majority in his second term. You may remember he had few other things on his desk in his first term.
Things like Islamic terrorists or as Obama puts it. …Individual mad men.
I say agree with who you want. Just do your homework. Look at this president’s affiliations and his inner circle and understand who he is. That is how you will understand where he is heading.
I dont aim to quote Glen Beck but say what you want about him. i have never heard anyone say his facts are wrong. Maybe the great DB grammar checker wants to broaden his job duties and see if he can find inaccuracies in Glen’s facts.
I’ll be here. In the meantime…
Enjoy your reform WS, I mean NYC.
I guess we all had it coming?
@12 Yes, the root of the problem is that there was no incentives for perceptive, market-appreciating graduates to become regulators. Instead we got clueless, anti-capitalist tools – that now rationalize collateral damage overkill as a way to make up for their past cluelessness and a government that will add damaging regulations on top of everything.
101! Breakin’ the buck, bee-yatches!!!
@35 Well said That Guy. It’s infuriating that these cocksuckers refuse to own what they did thus Wall Street is toast.
You want completely unregulated free markets? Become a quant trader in Somalia.
I hear they got no regulation over there and it’s working out great.
Also, if the finance thing fails you can become a pirate which is equally as awesome.
when the american people wake up, and see that these bankers (european plutocratcies) are holding us in bondage with fiat currency- backed by nothing, only then, will our families and children not wake up in poverty and homelss ….