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(CNN)   Goldman Sachs slashes its CEO's pay by 36% after massive bribery scandal, so he'll only be making $17.5 million this year. That'll teach him   (cnn.com) divider line
    More: Asinine, Najib Tun Razak, United States Department of Justice, Federal Bureau of Investigation, Goldman Sachs, executives' total compensation, top executives, pay cut, United States Marshals Service  
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267 clicks; posted to Business » on 27 Jan 2021 at 2:20 PM (4 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



19 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2021-01-27 2:24:35 PM  
i.gifer.comView Full Size
 
2021-01-27 2:29:08 PM  
Now he has to buy a FACTORY TRIM model Jaguar instead of the custom package all the others have! And his next cocktail party will have pre-made canapes instead of the chef coming straight to the penthouse! And the next prepubescent Russian prostitute will only be an 8 at best! HOW IS HE SUPPOSED TO LIVE LIKE THIS? HASN'T HE SUFFERED ENOUGH?
 
2021-01-27 2:41:52 PM  
Well, that will teach him... to not get caught.
 
2021-01-27 2:49:21 PM  
For those not familiar...

Goldman Sachs helped steal $4.5 billion dollars.  In the category of irony knows no limits, part of that money went to finance the movie The Wolf of Wall Street.  Then, after the FBI decided that even rich people must be punished when they start stealing 10 digit sums, Goldman Sachs ended up paying $3 billion dollars in fines, payback to the Malysian government, etc.

And the CEO who oversaw this massive operation...is still going to make more money for last year than the 99.5% of Americans who do not oversee the theft of billions of dollars.
 
2021-01-27 2:58:40 PM  
Goldman Sachs' mission is to do anything they can to make money.
Legal,Illegal,ethical or unethical.

I remember them manipulating a power crisis in California and people inside laughing about how they screwed everyone.
This company shouldn't be around.
 
2021-01-27 3:00:28 PM  
Like his salary is even the majority of his income, please.  Options, bonuses, perqs ...
 
2021-01-27 3:27:34 PM  

RealXavori: For those not familiar...

Goldman Sachs helped steal $4.5 billion dollars.  In the category of irony knows no limits, part of that money went to finance the movie The Wolf of Wall Street.  Then, after the FBI decided that even rich people must be punished when they start stealing 10 digit sums, Goldman Sachs ended up paying $3 billion dollars in fines, payback to the Malysian government, etc.

And the CEO who oversaw this massive operation...is still going to make more money for last year than the 99.5% of Americans who do not oversee the theft of billions of dollars.



Goldman's Sack
 
2021-01-27 3:29:17 PM  

sinner4ever: Goldman Sachs' mission is to do anything they can to make money.
Legal,Illegal,ethical or unethical.

I remember them manipulating a power crisis in California and people inside laughing about how they screwed everyone.
This company shouldn't be around.



i heard/read that there is a Goldman Sachs section in the US House of Representatives.  or maybe it was the Senate.

wait a minute!!  that can't be true!!

Capital [sic] Hill is the center of Democracy!!


yay!!
 
2021-01-27 3:30:41 PM  
in all seriousness, everyone in this threat owes Goldman's Sack an apology.

Feelings were hurt.
 
2021-01-27 4:02:23 PM  

sinner4ever: Goldman Sachs' mission is to do anything they can to make money.
Legal,Illegal,ethical or unethical.

I remember them manipulating a power crisis in California and people inside laughing about how they screwed everyone.
This company shouldn't be around.


They lost 95% (or was it 99%) of the money that Libya's sovereign wealth gave them to invest, by investing in things unsuitable for investing. They could do so because nobody was going to go after them over screwing Gaddafi. When Greece told the world they couldn't issue more debt, so more bonds would be issued for the foreseeable future, GS showed them how to cook the books and get more debt underwritten, which led a few years later to Greece's debt problem. GS "freed up" money for a big deal they cooked up by a convoluted scheme that ended with AIG basically self-insuring in the event of a failure. Financial companies spread risk around through reinsurance. It ensures that no one company loses enough to actually go under. For obvious reasons you can't ensure yourself against your own failure. But that is what GS's plan for AIG ended up doing so that AIG could spend the savings on this deal that GS had cooked up. They knew that there was no actual danger of AIG liquidating. AIG was the sole company allowed to sell insurance for overseas government contractors in combat zones. Even if AIG was going to go tits up the federal government would have to bail them out because we were hip deep in Iraq and Afghanistan. It was free money, GS got to collect a LOT of fees on the transaction and knew that bleeding AIG dry wouldn't bite them because the Treasury Secretary was a former GS guy.

They didn't engineer the 2007-2008 collapse but that was only because engineering is an act of intent. They just didn't care about the fallout of their actions. The liquidity crisis had nothing to do with them that I could determine but they set up a bunch of others to be knocked down by the first tailwind that came along.
 
2021-01-27 4:27:07 PM  
Yeah but he needs to maintain his lifestyle on $28.7M, so he's ruined and might as well be a peasant.
 
2021-01-27 5:01:05 PM  
Going to have to slash his hookers and blow  budgets.
 
2021-01-27 6:24:47 PM  
If the CEO had any honor, he or she or ze would do the right thing.  Only blood can erase the stain of dishonor.  If any of you are invested in Goldman Sachs, pull out your money.  The company has no honor.  Put the money back in after blood clears the stain of dishonor.
 
2021-01-27 7:24:45 PM  

keldaria: Well, that will teach him... to not get caught.


So don't punish him at all? Because "it'll only teach him to cheat better next time" can be applied to every punishment.
 
2021-01-27 9:17:39 PM  

DerAppie: keldaria: Well, that will teach him... to not get caught.

So don't punish him at all? Because "it'll only teach him to cheat better next time" can be applied to every punishment.


I'd show him the door and would have made sure his golden parachute clause is inapplicable under such conditions so he got nothing but a pink slip... you know actual accountability.
 
2021-01-28 10:47:29 AM  

keldaria: DerAppie: keldaria: Well, that will teach him... to not get caught.

So don't punish him at all? Because "it'll only teach him to cheat better next time" can be applied to every punishment.

I'd show him the door and would have made sure his golden parachute clause is inapplicable under such conditions so he got nothing but a pink slip... you know actual accountability.


How does that not teach him to not get caught?

Because "I shouldn't do it because it will cost me millions" and "I shouldn't het caught because it will cost me millions" map perfectly to "I shouldn't do it because it will cost me millions and my job" and "I shouldn't het caught because it will cost me millions and my job"
 
2021-01-28 11:01:55 AM  

DerAppie: keldaria: DerAppie: keldaria: Well, that will teach him... to not get caught.

So don't punish him at all? Because "it'll only teach him to cheat better next time" can be applied to every punishment.

I'd show him the door and would have made sure his golden parachute clause is inapplicable under such conditions so he got nothing but a pink slip... you know actual accountability.

How does that not teach him to not get caught?

Because "I shouldn't do it because it will cost me millions" and "I shouldn't het caught because it will cost me millions" map perfectly to "I shouldn't do it because it will cost me millions and my job" and "I shouldn't het caught because it will cost me millions and my job"


He got caught, the total repercussions were a slight reduction in salary. Essentially a slap on the wrist. My remarks is that such bullshiat repercussions won't stop him from doing it again, he will just try not to get caught next time. He has virtually no accountability and that's a problem. If I got caught doing something just as farked up at my job, I'd be fired and escorted from the building the second they learned of it. Hell, it wouldn't even take doing something that bad to make it happen for most people.

They need to be taught a lesson and held accountable. The company can't charge them with a crime, but they can show them the door. The fact this isn't happening is proof that they don't care that he's doing it, just that he got caught which is the problem.
 
2021-01-28 11:20:05 AM  

keldaria: DerAppie: keldaria: DerAppie: keldaria: Well, that will teach him... to not get caught.

So don't punish him at all? Because "it'll only teach him to cheat better next time" can be applied to every punishment.

I'd show him the door and would have made sure his golden parachute clause is inapplicable under such conditions so he got nothing but a pink slip... you know actual accountability.

How does that not teach him to not get caught?

Because "I shouldn't do it because it will cost me millions" and "I shouldn't het caught because it will cost me millions" map perfectly to "I shouldn't do it because it will cost me millions and my job" and "I shouldn't het caught because it will cost me millions and my job"

He got caught, the total repercussions were a slight reduction in salary. Essentially a slap on the wrist. My remarks is that such bullshiat repercussions won't stop him from doing it again, he will just try not to get caught next time. He has virtually no accountability and that's a problem. If I got caught doing something just as farked up at my job, I'd be fired and escorted from the building the second they learned of it. Hell, it wouldn't even take doing something that bad to make it happen for most people.

They need to be taught a lesson and held accountable. The company can't charge them with a crime, but they can show them the door. The fact this isn't happening is proof that they don't care that he's doing it, just that he got caught which is the problem.


I'm not disputing that he got of light, I am disputing the line of reasoning from "he will learn not to get caught" to the idea that the lesson would be different if the consequences were more severe.

If that worked we'd just put the death penalty on all offenses and see crime stop completely.
 
2021-01-28 12:10:10 PM  

DerAppie: keldaria: DerAppie: keldaria: DerAppie: keldaria: Well, that will teach him... to not get caught.

So don't punish him at all? Because "it'll only teach him to cheat better next time" can be applied to every punishment.

I'd show him the door and would have made sure his golden parachute clause is inapplicable under such conditions so he got nothing but a pink slip... you know actual accountability.

How does that not teach him to not get caught?

Because "I shouldn't do it because it will cost me millions" and "I shouldn't het caught because it will cost me millions" map perfectly to "I shouldn't do it because it will cost me millions and my job" and "I shouldn't het caught because it will cost me millions and my job"

He got caught, the total repercussions were a slight reduction in salary. Essentially a slap on the wrist. My remarks is that such bullshiat repercussions won't stop him from doing it again, he will just try not to get caught next time. He has virtually no accountability and that's a problem. If I got caught doing something just as farked up at my job, I'd be fired and escorted from the building the second they learned of it. Hell, it wouldn't even take doing something that bad to make it happen for most people.

They need to be taught a lesson and held accountable. The company can't charge them with a crime, but they can show them the door. The fact this isn't happening is proof that they don't care that he's doing it, just that he got caught which is the problem.

I'm not disputing that he got of light, I am disputing the line of reasoning from "he will learn not to get caught" to the idea that the lesson would be different if the consequences were more severe.

If that worked we'd just put the death penalty on all offenses and see crime stop completely.


Your right, it's best not to do anything more than slap them on the wrist because they won't learn anything more from being actually held accountable.

My issue is with the company, the punishment is essentially them not caring about the fact it happened but rather that he got caught doing it. If they cared about it happening they'd have fired him.
 
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