WAKE UP THE MASSES! This is Something Clever.
Fair warning, you may actually LEARN something today! Mike V, take it away!
So as you may or may not be aware, “full-service global investment banking and securities firm Goldman Sachs” is currently in quite the pickle as the government comes down on them for “bad business practices”.
Here’s the thing guys and gals: (Yes I just used the word “gals”, yes I’m comfortable with that) Business is business…and businesses are in the business of making money...God, I hope that makes sense...anyway, one line of thought says: Can you fault them for taking advantage of a system that would turn them huge profits?
I don’t know, is it illegal to sell a blind guy a $6,000 LED TV? Not illegal…But wrong? Well that’s what all this is about…
Essentially, Goldman Sachs got involved in selling securities while they had “alleged foreknowledge” of their impending doom. Goldman CEO, Lloyd Blankfein refuses to give in, and asserts that risk is “part of the game” when we’re talking about the buying/selling of securities, which is true.
However, is it wrong for a NFL player to bet against his own team if it will make him money? Isn’t he supposed to have the “interests” of his team mates in mind?
Side Note: It’s actually heavily illegal!!!
Well that’s part of the issue here, and part of the reason the courts have been coming down on him so hard. One look at his compensation here: http://people.forbes.com/profile/lloyd-c-blankfein/37715 , and you may find it hard to feel bad for him as well.
I don’t know which is more horrific the shooting “accident” below (For the record, I agree with Watts, accidental shooting in the face, resulting in classic “loss of face” should be a friendship ending offense), or a bunch of politicians trying to interpret morality on prime time….either way…..what Goldman did was certainly kind of clever….
Right, or Wrong? You decide….
-Mike V
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