Showing posts with label Goldman Sachs. Show all posts
Showing posts with label Goldman Sachs. Show all posts

Monday, January 07, 2013

VOTE: Worst Company of the Year Award!

 


Wow, we get the opportunity to really vote for the worse company of the year award!  It's a difficult choice to chose the worse of all evils.  Read the list then click at the bottom to cast your vote!

The companies listed are:

 Alstom:
The French energy and transport conglomerate Alstom is involved in corruption scandals all over the world. Alstom systematically bribes local politicians, sometimes in the seven figures, to secure contracts. The frequency of known cases is such that one wonders if this is a deliberate business strategy. Alstom has been fined repeatedly and some of its subsidiaries were excluded from World Bank projects.

Coal India
Coal India's coal mines destroy the habitats of many large mammals and rob tribal peoples of their livelihood and homelands, forcing them into a life of bitter poverty. The dismal record with 205 workers dead and 699 seriously wounded in 2010 alone, suggests that working conditions at Coal India are indeed disastrous. At least 239 coal mines belonging to Coal India operate without environmental permit.

G4S
The ranks of the British security service company G4S include more than 650'000 employees. These security forces are often badly trained and paid and many of its members have a criminal record. The company is involved in countless cases of violations of international law and human rights abuses. G4S is present in the occupied Palestinian territories—manning checkpoints and managing prison security for Israel and is thus complicit in Israel’s illegal settlement policy.

Goldman Sacks
Between 1998 and 2009 Goldman Sachs pocketed horrendous fees to hide half of Greece’s public debt by means of accounting tricks, which eventually ruined Greece and plunged the EU into a financial crisis of which only Goldman profits. The bank has already earned at least 600 million dollars and Greece owes it 400 million per year until 2037, for a total of more than 10 billion dollars at the expense of European taxpayers.

Lonmin
Lonmin, the world's third largest mining concern, urged the South African mining ministery to take „appropriate“ measures against striking mine workers at their mine — with the help of the police or the army. A short time later, 44 protesting mine worker were shot dead by the police nd 77 more were seriously wounded. One day after the massacre, Lonmin threatened all workers who continued to strike with dismissal.

Repower
The Swiss energy corporation Repower is building a hard-coal fired power plant in Calabria, Italy, despite the opposition of the local population. The planned site lies at the very heart of the dominion of the `Ndrangheta Mafia, Italy’s and probably Europe’s most influential organized crime alliance. Repower will have to do business with the Mafia, or might already be doing business.

Shell
Shell is the first super-major oil company that plans to exploit the fragile Arctic in a high risk hunt for fossil fuels. The oil exploration in the Arctic has biodiversity consequences. While Shell confidently tells us that it has «made numerous plans for dealing with oil in ice». The company also admits that the technical and environmental challenges of oil exploration in the Arctic «are immense.

Saturday, January 28, 2012

Romney backed by Goldman Sacks

By Andrew Henry
Newsmax

The top donor to former Massachusetts Gov. Mitt Romney’s presidential campaign, investment banking and securities firm Goldman Sachs, received over $10 billion in emergency lending and bailouts from the Federal Reserve after the 2008 financial meltdown, according to public sources and published reports.

Goldman backed Obama for election in 2008, and the firm, like many Wall Street institutions, is now backing Mitt Romney for president.

Romney has long had a close relationship with Goldman Sachs. In 1999 Romney purchased initial IPO shares in Goldman that netted him $1.1 million in profits when he sold them in 2010.

And The New York Times recently reported that “many of the assets in Romney’s blind trust” are managed by Goldman.

Today, Goldman is Romney’s largest donor.

And nine of Romney’s top 20 campaign contributors are big Wall Street Banks like Goldman. But Goldman leads all Romney contributors, having donated $367,200 to his campaign, according to the Center for Responsive Politics.

Six of those nine top contributors received over $161 billion in taxpayer bailouts, reports ProPublica, the independent, Pulitzer Prize-winning investigative organization.

Goldman doesn’t contribute directly to candidates like Romney, but does so through its employees.

Romney’s ties to Goldman have already become a campaign issue. During Thursday’s CNN debate, former House Speaker Newt Gingrich stated that Romney profited from millions he invested in a Goldman Sachs fund that relied heavily on investments in the mortgage-backed securities linked to the 2008 implosion on Wall Street. Romney said he personally didn’t direct the investment, which he said was made through his trust.

Still, Romney’s close ties with Goldman will continue to nag his campaign.

ProPublica says that the The Goldman Sachs Group, Inc., received over $782 million in emergency lending from the Federal Reserve. On Jan. 17, the investigative site reported that the total of taxpayer bailouts received by Goldman tallied a whopping $10 billion.

The relationship between Goldman and Romney goes far beyond its patronage of his campaign. The firm has reportedly managed significant assets of Romney’s in his blind trust.

Read more on Newsmax.com: Romney Backed by Goldman Sachs, Bailout Banks
Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!

Romney’s relationship with Goldman dates back at least to 1999, when he purchased 7,000 shares of Goldman’s initial public offering. The release of those shares was tightly held, and were largely unavailable to ordinary investors.

According to a May 1999 BusinessWeek story, “few of the public shareholders were folks who happened to be lucky enough to snare a few shares.”

One potential political landmine for Romney: Personal financial disclosures from May 2011 indicating he and his family invested millions in a Goldman Sachs fund that invested heavily in mortgage-backed debt obligations.

There have been growing indications that Romney’s ties to Wall Street would be subjected to intense scrutiny in a general election campaign especially the Goldman Sachs fund he invested in that benefited from the housing collapse.

Romney’s disclosure forms show that he invested between $1 and $5 million in the fund, and his wife Ann invested another $1 million plus.

The report is based on Romney’s May 2011 personal financial disclosures, which indicates significant investments in the “Goldman Sachs Strategic Income Fund (institutional class).” Approximately 24.5 percent of that fund is reportedly invested in mortgage-backed obligations.

Romney’s profit taking through his Goldman fund investment remains a sensitive subject in Florida, one of the states hardest hit by the housing meltdown. Romney’s Goldman fund invested in some of the biggest culprits in the housing meltdown, including Bear Stearns, Countrywide, IndyMac and Washington Mutual.

In October, Romney ran into trouble on the foreclosure issue, when suggested the remedy to the turmoil in the real estate market is “don’t try and stop the foreclosure process. Let it run its course and hit the bottom.”

On Tuesday, Romney stood before a foreclosed home and promised a small crowd of Floridians that he would encourage financial institutions to help homeowners. But he also partially defended banking institutions’ role in the mortgage crisis.

“In this case, it’s because of the banks,” he said, according to a FoxNews.com report. “Well, the banks aren’t bad people. They’re just overwhelmed.”

By comparison, only one of the top 20 contributors to GOP rival Newt Gingrich’s campaign is a bank: Wells Fargo donated $5,900 to the Gingrich campaign through Sept. 30.

Then-candidate Barack Obama received strong support from Wall Street in the 2008 cycle. But so far this cycle, the only financial institution listed among his top 20 donors is Goldman Sachs. It contributed $50,124 to his re-election campaign.

Analysts say Wall Street’s lackluster financial support for the president’s reelection campaign reflects the pinch they’re feeling on profits due to the Dodd-Frank financial regulations reforms he has championed.

Read more on Newsmax.com: Romney Backed by Goldman Sachs, Bailout Banks
Important: Do You Support Pres. Obama's Re-Election? Vote Here Now!

Monday, August 08, 2011

Goldman Sachs-Robbing and Thieving The American Sucker-AGAIN


This was shot a year ago, but you can see the cause and effect of the bail out for the American taxpayers.