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You've Made Enough Money

Discussion in 'Political Discussion' started by Harry Boy, Apr 29, 2010.

  1. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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  2. Holy Diver

    Holy Diver Rookie

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  3. Mrs.PatsFanInVa

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    #12 Jersey

    No - but she's rich, black, female and she supported Obama. That last one alone is enough for Harry to want to see her hang - never mind she never stole a thing from the American people, hedged a bet with other people's money, was never bailed out by tax dollars or that she donates a sh!tolad of her money to charities each year - that's not important.

    Apples are oranges in Harry's world.
    Last edited: Apr 29, 2010
  4. Wolfpack

    Wolfpack Banned

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    Exactly. And that's why when Obama says "at some point, you've made enough money" he isn't talking about Oprah. He just means all those eeeeeeeeeeeeeeeeeeeeeeeeeevil Wall Street people.
  5. chicowalker

    chicowalker Rookie

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    I haven't watched the video, but if that's really what he said, and there's no mitigating context, it's a bs sentiment, that far too many people in the country seem to have, imo

    As for Goldman, the bailout, hedging and selling ****ty investments... first, Goldman didn't need to be bailed out, as far as I'm aware. They were persuaded to take the bailout money to help give it credibility. They also paid back all the money quite quickly, I believe.

    Hedging -- a firm like Goldman always is going to have various positions, both long and short, in different areas -- whether as a hedge or because different departments or traders have different views.

    Selling ****ty investments -- they may have been ****ty investments, but were the clients lied to? That's the evidence I'm waiting to see. It's easy to say something was a ****ty investment with hindsight, after that market finally tanks. But the people buying these were pretty sophisticated -- Goldman was sitting down with my mom and duping her. So something turning out to be a bad investment is in no way damning. If it turns out they were lied to, however, that's an entirely different story.
  6. Mrs.PatsFanInVa

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    #12 Jersey

    I see. Do you support those people on Wall Street?
  7. Holy Diver

    Holy Diver Rookie

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    yes, the clients were lied to. When Goldman knew the investment was ****ty, and advised its clients to inves, while shorting it, this thing became a scam, and the saddest thing is that its not illegal, and these guys cant seem to fathom why this is wrong.
  8. chicowalker

    chicowalker Rookie

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    any evidence?
  9. khayos

    khayos Rookie

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    You mean the people that create jobs?
  10. chicowalker

    chicowalker Rookie

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    Having worked in capacities on or related to "Wall Street" most of my career, I wouldn't say that most of Wall St creates jobs -- they do, however, help others to do so, along with playing a vital role in multiple markets around the world.

    [edit: don't get me wrong -- Wall Street employs a lot of people (how many depends on how you want to define it -- but I think of operating businesses, particularly mid-sized companies, as the drivers of job creation -- and Wall st and other financial institutions do help with that]
    Last edited: Apr 29, 2010
  11. Wolfpack

    Wolfpack Banned

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    I know that no matter how I answer this question, you are going to take my answer and twist it around. So I will gladly answer it, but you're just going to have to be more specific. I need to know what you mean by "support" and what you mean by "those people on Wall Street."
  12. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Rich Socialist Left Wing Liberals hate the system that allowed them to become rich, there are dishonest deals and ruthless crooks involved in all things "big" when they are finished with Wall St I wish they would go after the Pigs In Washington.
  13. BSR

    BSR Rookie

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    Hath not a jew eyes?
  14. Mrs.PatsFanInVa

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    #12 Jersey

    Which ever one's you were referring to here:

    Your comment, your choice.
  15. apple strudel

    apple strudel Banned

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    20:1 top to bottom income ratio sounds about right to me. If you want a truly free country you need to start talking about economic freedom first. Eat the rich.
    Last edited: Apr 29, 2010
  16. Wolfpack

    Wolfpack Banned

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    I said I would gladly answer your question if you could please be a bit more specific, and you haven't clarified it in the slightest. My offer still stands but if you want me to answer it, I need to understand precisely what you are asking.
  17. Wolfpack

    Wolfpack Banned

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    Of course, when you say "economic freedom" what you really mean is "government control of the economy."

    Yeah, nothing says "freedom" like more and more government control :rolleyes:
  18. chicowalker

    chicowalker Rookie

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    and if you own a company, you can go ahead and make that corporate policy (will you include total compensation or just cash income?)

    Personally, I think your 20:1 ratio is arbitrary and, in many, many companies, not nearly a large enough ratio to reflect various employees' true value to the business. (For example, somebody who processes paperwork isn't going to be worth 5% of the value of a CEO of a global corporation or 5% of the value of a salesperson who consistently lands highly profitable accounts -- which is part of the reason why those kinds of people can command significant comp packages)
  19. shmessy

    shmessy Maude Staff Member PatsFans.com Supporter

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    #75 Jersey

    Being in the investment field myself, I condemn blanket statements against entire groups of people like made by the President.

    However, what Goldman Sachs did in the Abacus situation and what many more firms did (Goldman is just the tip of the iceberg) is unethical, a clear conflict of interest and counter productive to our society.

    There is nothing defensible about craftging a pool of investments with one cflient in the room choosing the ingredients, intending to short it, then going out to your other clients and telling them to go long on it.

    Anyone want to defend that?
    Last edited: Apr 29, 2010
  20. apple strudel

    apple strudel Banned

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    Because free markets work so well! And because the government doesn't already exercise a certain amount of control over the economy! And because that control doesn't institutionally favor the very rich! Oops.

    Does more money buy you more personal freedom? (Don't bother trying, you'll just hurt what's left of your brain.) You're just arguing for corporate freedom so they can crap all over self-defeating geniuses like yourself. It's good to know you enjoy being taken advantage of.

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