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(Bloomberg)   Goldman Sachs employees switch donations to favor Romney. This is bad news for Obama   (bloomberg.com) divider line 50
    More: Interesting, Mitt Romney, Goldman Sachs, obama, Bain Capital LLC, T-Mobile USA, AT&T Inc., Center for Responsive Politics, Public Citizen  
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931 clicks; posted to Politics » on 09 Aug 2012 at 12:40 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-08-09 12:32:12 PM  
[Obvious] tag last seen on the floor of the NYSE.
 
2012-08-09 12:38:46 PM  
what a loser. Obama can't even do corruption right? Not enough ROI for all the executives he stole from them?

I would try a new vendor too, if I was that dissatisfied a client
 
2012-08-09 12:44:01 PM  
I'm confused.

Wealthy bankers donating to Obama: bad.
Wealthy bankers not donating to Obama: bad.
 
2012-08-09 12:50:02 PM  
I'd say that's bad news for Sachs.

Governor Clownass is having trouble righting his ship.
 
2012-08-09 12:50:57 PM  
Hopefully Obama will win and then punish them for not coming in with the bribe money...
 
2012-08-09 12:51:12 PM  
And nobody from Goldman Sachs has ever made a bad decision, right?
 
2012-08-09 12:52:32 PM  
If Obama's pissing off the bankers, he must be doing something right.
 
2012-08-09 12:54:10 PM  

qorkfiend: I'm confused.

Wealthy bankers donating to Obama: bad.
Wealthy bankers not donating to Obama: bad.


There, I FTFY. You were over-complicating the issue.
 
2012-08-09 12:55:37 PM  
Of course. These people are in the business of betting on winners. They just want to be on the winning team no matter the consequences.

Thus they keep adding evidence to their record of bad picks though.
 
2012-08-09 12:56:50 PM  
Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?
 
2012-08-09 12:57:42 PM  
I was looking for stats but couldn't find anything. Does anyone have data on who won the presidential election vs who spent more for the past 30 years?
 
2012-08-09 12:58:31 PM  

jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?


Well, they are greedy, destructive, undertaxed, overpaid bastards. They can eat shiat and like it. Meanwhile, we can all agree that Romney is the candidate of choice for the people who created the economic disaster we're still digging our way out of.
 
2012-08-09 12:58:54 PM  

jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?


You'd prefer he just lied?
 
2012-08-09 12:59:20 PM  
I wonder if there is any breakdown by individual. Are Individuals who are doing the donations switching their donations, or is it a matter of 2008 donors aren't donating (or have lost their jobs there) and 2012 donors to Romney are new or have new motivation (previously there but didn't donate)
 
2012-08-09 12:59:23 PM  

HeartBurnKid: If Obama's pissing off the bankers, he must be doing something right.


How about when he's pissing off 21 of the top 25 campaign-donating companies? Is he doing something even righter?
 
2012-08-09 12:59:41 PM  

jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?


I'm surprised it took this long for those greedy, destructive, undertaxed, overpaid bastards to recognize Mitt as one of their own.
 
2012-08-09 01:00:39 PM  

jjorsett: HeartBurnKid: If Obama's pissing off the bankers, he must be doing something right.

How about when he's pissing off 21 of the top 25 campaign-donating companies? Is he doing something even righter?


Yes.
 
2012-08-09 01:00:46 PM  

jjorsett: How about when he's pissing off 21 of the top 25 campaign-donating companies? Is he doing something even righter?


You know "President of the United States" and "top earning call girl of the month" are supposed to be separate jobs, don't you?
 
2012-08-09 01:03:39 PM  

jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?


danieljmitchell.files.wordpress.com
 
2012-08-09 01:04:11 PM  

Chagrin: jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?

You'd prefer he just lied?


No, I'm much happier that he's honest and causing them to donate to his opponent.

A Dark Evil Omen: jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?

Well, they are greedy, destructive, undertaxed, overpaid bastards. They can eat shiat and like it. Meanwhile, we can all agree that Romney is the candidate of choice for the people who created the economic disaster we're still digging our way out of.


Good, keep it up. The more of that rhetoric businesses hear, the better.
 
2012-08-09 01:04:52 PM  
Anyone else amazed that even with all this money Romney is getting, and then turning around and outspending Obama 2-1 in the swing states, that Obama still has a sizable lead in places like Michigan, Nevada, Ohio, and Wisconsin.
 
2012-08-09 01:05:13 PM  

jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?


Telling the truth IS bad for politicians.
 
2012-08-09 01:06:22 PM  

jjorsett: HeartBurnKid: If Obama's pissing off the bankers, he must be doing something right.

How about when he's pissing off 21 of the top 25 campaign-donating companies? Is he doing something even righter?


Yup. farking moneyed assholes have owned our government far too long.
 
2012-08-09 01:07:39 PM  

HeartBurnKid: If Obama's pissing off the bankers, he must be doing something right.


DINGDINGDINGDING!!
 
2012-08-09 01:07:40 PM  

meat0918: Anyone else amazed that even with all this money Romney is getting, and then turning around and outspending Obama 2-1 in the swing states, that Obama still has a sizable lead in places like Michigan, Nevada, Ohio, and Wisconsin.


You can only polish a turd so much.

/well, without grinding it down into powder and turning it into a ball of mud
//thanks, Mythbusters!
 
2012-08-09 01:09:16 PM  

thurstonxhowell: qorkfiend: I'm confused.

Wealthy bankers donating to Obama: bad.
Wealthy bankers not donating to Obama: bad.

There, I FTFY. You were over-complicating the issue.


Oh, right. Thanks. Don't know how I missed that.
 
2012-08-09 01:09:27 PM  

A Dark Evil Omen: Well, they are greedy, destructive, undertaxed, overpaid bastards. They can eat shiat and like it. Meanwhile, we can all agree that Romney is the candidate of choice for the people who created the economic disaster we're still digging our way out of.


The people who created this disaster are Bill Clinton, Alan Greenspan, and the Dems in Congress who shot down regulations and investigations into the mess as it was brewing.
 
2012-08-09 01:10:04 PM  

jjorsett: Chagrin: jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?

You'd prefer he just lied?

No, I'm much happier that he's honest and causing them to donate to his opponent.

A Dark Evil Omen: jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?

Well, they are greedy, destructive, undertaxed, overpaid bastards. They can eat shiat and like it. Meanwhile, we can all agree that Romney is the candidate of choice for the people who created the economic disaster we're still digging our way out of.

Good, keep it up. The more of that rhetoric businesses hear, the better.


Yeah, if they hear some more of it they'll move to one of the other first-world countries where taxes are lower and the standard of living is better. There are at least a couple hundred of those out there.
 
2012-08-09 01:10:22 PM  

A Dark Evil Omen: jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?

Well, they are greedy, destructive, undertaxed, overpaid bastards. They can eat shiat and like it. Meanwhile, we can all agree that Romney is the candidate of choice for the people who created the economic disaster we're still digging our way out of.


Also: SEC opening up investigation of Goldman Sachs re: LIBOR in 3...2...

/Probably not
//Wouldn't be surprised if it was however
 
2012-08-09 01:10:51 PM  
I find it very hard to believe that more than 50% of GS employees and executives voted for Obama in 2008. Also, they're mostly in NY so it doesn't even matter anyway.
 
2012-08-09 01:11:47 PM  

thurstonxhowell: jjorsett: HeartBurnKid: If Obama's pissing off the bankers, he must be doing something right.

How about when he's pissing off 21 of the top 25 campaign-donating companies? Is he doing something even righter?

Yes.


Cool. I do find it an interesting approach, however: "I hate you, your works, and all you stand for. How about giving me money?"
 
2012-08-09 01:12:41 PM  

DrPainMD: A Dark Evil Omen: Well, they are greedy, destructive, undertaxed, overpaid bastards. They can eat shiat and like it. Meanwhile, we can all agree that Romney is the candidate of choice for the people who created the economic disaster we're still digging our way out of.

The people who created this disaster are Bill Clinton, Alan Greenspan, and the Dems in Congress who shot down regulations and investigations into the mess as it was brewing.


And the groundwork was laid during the Reagan Administration and the S&L scandal was just to see how far they could push things. What amazes me is some of the same politicians that were around at that time were also there for the repeal of Glass Steagall, so they saw firsthand what banks due with relaxed regs. Of course, the only reason they were still there may be because they were so bank friendly.
 
2012-08-09 01:13:41 PM  

DrPainMD: A Dark Evil Omen: Well, they are greedy, destructive, undertaxed, overpaid bastards. They can eat shiat and like it. Meanwhile, we can all agree that Romney is the candidate of choice for the people who created the economic disaster we're still digging our way out of.

The people who created this disaster are Bill Clinton, Alan Greenspan, and the Dems in Congress who shot down regulations and investigations into the mess as it was brewing.


Little early to be smoking crack, no? As I recall, the Republicans had congress for 8 years straight, and the Presidency for 6 of those. Really should have been time enough to fix things. If you were competent and actually cared about America, that is.
 
2012-08-09 01:15:17 PM  

RumsfeldsReplacement: I find it very hard to believe that more than 50% of GS employees and executives voted for Obama in 2008. Also, they're mostly in NY so it doesn't even matter anyway.


Donating to doesn't necessarily mean voting for. It can be a form of insurance and access-buying.
 
2012-08-09 01:15:17 PM  

jjorsett: thurstonxhowell: jjorsett: HeartBurnKid: If Obama's pissing off the bankers, he must be doing something right.

How about when he's pissing off 21 of the top 25 campaign-donating companies? Is he doing something even righter?

Yes.

Cool. I do find it an interesting approach, however: "I hate you, your works, and all you stand for. How about giving me money?"


I'd go with "I hate you, your works and all you stand for. Kill yourselves, you're parasites and we don't need you". Of course, the Dems aren't going to go with that but one can dream.
 
2012-08-09 01:16:22 PM  

jjorsett: HeartBurnKid: If Obama's pissing off the bankers, he must be doing something right.

How about when he's pissing off 21 of the top 25 campaign-donating companies? Is he doing something even righter?


I'd say YES.
 
2012-08-09 01:16:36 PM  

jjorsett: thurstonxhowell: jjorsett: HeartBurnKid: If Obama's pissing off the bankers, he must be doing something right.

How about when he's pissing off 21 of the top 25 campaign-donating companies? Is he doing something even righter?

Yes.

Cool. I do find it an interesting approach, however: "I hate you, your works, and all you stand for. How about giving me money?"


It seems to be working better than: "I am you better, peasant, it is natural that I rule you."
 
2012-08-09 01:21:45 PM  
law.umkc.edu

Hopefully this is Goldman realizing that Obama played them for chumps and if he gets a second term he is going to open up a legislative and a DoJ can on them similar to the one Dr. William K Black did after the S&L scandal in the 1980s where he sent 1000 crooked bankers to prison.
 
2012-08-09 01:23:40 PM  

jjorsett: thurstonxhowell: jjorsett: HeartBurnKid: If Obama's pissing off the bankers, he must be doing something right.

How about when he's pissing off 21 of the top 25 campaign-donating companies? Is he doing something even righter?

Yes.

Cool. I do find it an interesting approach, however: "I hate you, your works, and all you stand for. How about giving me money?"


I think it's more "I hate you, your works, and all you stand for. If you don't give me money, I'm going to rip your balls off and keep them on my desk as a trophy".

Goldman Sachs has been very naughty lately. I'm hoping for charges and at least hefty fines in Obama's second term.
 
2012-08-09 01:24:27 PM  

HotWingConspiracy: Governor Clownass


That's just excellent, right there.
 
2012-08-09 01:25:15 PM  
The Dodd-Frank Bill sets up a lot of new monitoring, and mandatory reporting. If I worked in that industry I would imagine that it would make my work more steady but also a lot more mundane and less profitable. Not hard to see the reason they want Dodd-Frank repealed, even as they are influencing the formation of rules under it.

On the other hand, we could have just passed Glass-Stegall again, and split up the banks so that investment and savings/loan would again be handled by separate companies. That probably wouldn't have changed the workload/workflow for these financial employees by much. Then, maybe Goldman and the others would still be on Obama's side.

Like many other things, to me this seems like a self-inflicted wound. The good news for Obama is, that like Obamacare, the Dodd-Frank bill is meant to address a serious problem and the average voter or member of Congress will not be OK with just repealing it without also proposing a viable replacement. And Team Romney has proposed literally nothing that might stabilize the financial sector or health insurance.
 
2012-08-09 01:27:03 PM  
That just shows they'll bet on anything
 
2012-08-09 01:33:37 PM  

smitty04: jjorsett: Bad-mouth a class of people as greedy, destructive, undertaxed, overpaid bastards and they're not going to want you reelected. Does this come as some sort of surprise?

[danieljmitchell.files.wordpress.com image 550x424]


It would be funny if it had infrastructure and military in there represented as a cart wheeling him along and armed guards escorting him. Yes, regulations and taxes are burdens, but its nothing compared to the burden of running the same business in a third world country with no roads and roaming hoards attacking you.
 
2012-08-09 01:39:52 PM  

DrPainMD: A Dark Evil Omen: Well, they are greedy, destructive, undertaxed, overpaid bastards. They can eat shiat and like it. Meanwhile, we can all agree that Romney is the candidate of choice for the people who created the economic disaster we're still digging our way out of.

The people who created this disaster are Bill Clinton, Alan Greenspan, and the Dems in Congress who shot down regulations and investigations into the mess as it was brewing.


And conservatives wonder why people think they do not know history. TAADAA!!!
 
2012-08-09 02:00:11 PM  

The Jami Turman Fan Club: Goldman Sachs has been very naughty lately. I'm hoping for charges and at least hefty fines in Obama's second term.


You are a funny guy. You should pursue a carer in satirical writing.
 
2012-08-09 02:06:31 PM  

DrPainMD: The people who created this disaster are Bill Clinton, Alan Greenspan, and the Dems in Congress who shot down regulations and investigations into the mess as it was brewing.


You know what they call med students who graduate at the bottom of their class? "Doctor."
 
2012-08-09 02:17:39 PM  

meat0918: Anyone else amazed that even with all this money Romney is getting, and then turning around and outspending Obama 2-1 in the swing states, that Obama still has a sizable lead in places like Michigan, Nevada, Ohio, and Wisconsin.


Be wary of polls, especially when one of the candidates is blah..... i'd only feel comfortable if Obama had an insurmountable lead over Romney in swing states, not a sizeable lead. Cheney was on the mark when he said that Romney being equal meant he was ahead. The same old rules apply. Trust no one to tell the truth.

No one needs to be complacent.
 
2012-08-09 03:04:41 PM  

ExperianScaresCthulhu: meat0918: Anyone else amazed that even with all this money Romney is getting, and then turning around and outspending Obama 2-1 in the swing states, that Obama still has a sizable lead in places like Michigan, Nevada, Ohio, and Wisconsin.

Be wary of polls, especially when one of the candidates is blah..... i'd only feel comfortable if Obama had an insurmountable lead over Romney in swing states, not a sizeable lead. Cheney was on the mark when he said that Romney being equal meant he was ahead. The same old rules apply. Trust no one to tell the truth.

No one needs to be complacent.


Not that I don't agree with you on complacency and whatnot, but I think we're past the Bradley effect as a society. 2008 showed that.

/I swear, watching all the right-wingers crowing about how the Bradley effect would sweep McCain into office made me sick to the pit of my stomach
//"CONCEALED RACISM WILL WIN THE DAY FOR US! SUCK IT LIBS!"
 
2012-08-10 07:01:39 AM  
If Obama could accomplish one thing during his final term that would be legacy legislation, it would be the re-enactment of Glass-Steagal.

/one can only dream
 
2012-08-11 10:14:36 AM  

ghare: DrPainMD: A Dark Evil Omen: Well, they are greedy, destructive, undertaxed, overpaid bastards. They can eat shiat and like it. Meanwhile, we can all agree that Romney is the candidate of choice for the people who created the economic disaster we're still digging our way out of.

The people who created this disaster are Bill Clinton, Alan Greenspan, and the Dems in Congress who shot down regulations and investigations into the mess as it was brewing.

Little early to be smoking crack, no? As I recall, the Republicans had congress for 8 years straight, and the Presidency for 6 of those. Really should have been time enough to fix things. If you were competent and actually cared about America, that is.


I guess you've never seen this 2004 Congressional hearing to investigate Fannie Mae and Freddie Mac's illegal bookkeeping?

Here's an excerpt:

Richard Baker (R-LA): "The analysis makes clear that more resources must be brought to bear to insure the highest standards of conduct are not only required, but more importantly, they are actually met."

Maxine Waters (D-CA): "...frankly, we were trying to fix something that wasn't broke. Mr. Chairman, we do not have a crisis at Freddie Mac, and in particular at Fannie Mae, under the outstanding leadership of Mr. Frank Raines.*"

Gregory Meeks (D-NY): "...they've [the GSEs] done a tremendous job. There's been nothing that was indicated that's wrong, you know, with Fannie Mae. Freddie Mac has come up on its own, and the question that then presents is the competence that your agency has, with reference to deciding and regulating these GSEs. And so, I wish I could sit here and say that I'm not upset with you, but I am very upset, 'cause, ya know, what you do is give, maybe give a reason to, as Mr. Gonzalez said, give someone a heart surgeon when they really don't need it."

Ed Royce (R-CA): "...I hope that we will move swiftly to create a new regulatory structure for Fannie Mae, for Freddie Mac, and the Federal Home Loan banks."

Lacy Clay (D-MO): "This hearing is about the political lynching of Franklin Raines.*" [Raines is black]

* - Civil charges were filed against Raines and two other former executives by the OFHEO in which the OFHEO sought $110 million in penalties and $115 million in returned bonuses from the three accused. On April 18, 2008, the government announced a settlement with Raines together with J. Timothy Howard, Fannie's former chief financial officer, and Leanne G. Spencer, Fannie's former controller. The three executives agreed to pay fines totaling about $3 million, which will be paid by Fannie's insurance policies. Raines also agreed to donate the proceeds from the sale of $1.8 million of his Fannie stock and to give up stock options, which were valued at $15.6 million when issued... Raines also gave up an estimated $5.3 million of "other benefits" said to be related to his pension and forgone bonuses.

An editorial in The Wall Street Journal called it a "paltry settlement" which allowed Raines and the other two executives to "keep the bulk of their riches." In 2003 alone, Raines's compensation was over $20 million.

In a settlement with OFHEO and the Securities and Exchange Commission, Fannie paid a record $400 million civil fine.
 
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