20 July 2015

Not Enough Bullets

I just heard that the head of Goldman Sachs, Lloyd Blankfein is now a billionaire:
Goldman Sachs Group Inc. made hundreds of partners rich when it went public in 1999. Its performance since then has turned Lloyd Blankfein into a billionaire.

The chief executive officer of the Wall Street bank for the past nine years, Blankfein has seen his net worth surge to about $1.1 billion as the firm’s shares quadrupled since the initial public offering, according to the Bloomberg Billionaires Index. As the largest individual owner of Goldman Sachs stock, he has a stake in the company worth almost $500 million. Real estate and an investment portfolio seeded by cash bonuses and distributions from the bank’s private-equity funds add more than $600 million.
All that money is because he was bailed out by the taxpayer.

He should have gone to jail like Depression era NYSE boss Richard Whitney, who was jailed, and after his release, worked on a farm.

This guy should be making license plates for the next few years, and thereafter, he should be banned from the securities industry for life.

These guys should frog marched down Wall Street in handcuffs.

We should make a parade of this, so that for the next few years, the bankster "Whiz Kids" will think twice before adding "innovations" that serve no purpose beyond lining their own pockets.


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