Wednesday, November 18, 2009

Goldman Sachs & the divine rights of bankers

Slightly embarassed by Goldman Sachs chairman Lloyd Blankfein's boast that the house of Goldman Sachs was 'doing God's work', the mighty finance capitalists at 85 Broad Street, New York, set spin doctors to work. And guess what pence of atonement of lordly pride of finance capitalism they hit upon? Well, Goldman Sachs offers apologies for its despicable role in fomenting the crisis in world capitalism which we peon know as a global recession and for which we ratepayers are bearing its heavy cross and suffering a steady decline in our living standards and wages if we are lucky enough to have work! Yep, the house of Goldman Sachs in a publicity gesture 'pledges' us$500m over five, yes five, years to help 10.000 stressed US small business on the verge of bankruptcy and starved for credit which Goldman Sachs & co. have denied them whilst fattening corporate purses of 'banks too big to fail'.
What, pray tell, does this come down to? 2,3 per cent of its coporate profits in the first 9 months of 2009. Now this house of divine rights of finance capitalists has set aside us$16,7bn for compensation for these 9 months, and analysts project that the amount with climb to us$21,8bn by the end of the year.
Goldman Sachs is spitting in the eye of us common folk. It is having a Marie Antonette moment. 'Qu'ils mangent de la brioche' [let them eat bread], she said as her class was racing towards revolution and the guillotine.
Blankfein & his pack of avaricious finance capitalist should remember 'Proverbs' warning that 'pride proceedth the fall'. When, where, and how, Goldman's fall will happen, Guam Diary cannot say. Goldman's insulting offer simply adds oil to the burning fire of resentment among the us the 'third estate', for they and their ilk own 93 per cent of the US wealth, live high off the hog, and throw meagre crumbs to us to slake our thirst for retribution and justice.

No comments:

Post a Comment