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Anger and Panic At Goldman Sachs Over 90% Tax
Copyright © 2009 The Business Insider, Inc. All rights reserved ^ | Mar. 21, 2009, 7:40 AM | John Carney

Posted on 03/21/2009 2:05:23 PM PDT by Behind Liberal Lines

Goldman Sachs was solidly behind Barack Obama. Indeed, Goldman Sachs has long had the reputation as the investment banks with the most Democratic supporters on Wall Street.

But the vote earlier this week to impose a 90 percent tax on bonuses at TARP supported banks has many at Goldman feeling betrayed, fearful and angry. On Thursday and Friday, the trading floor at Goldman echoed with brokers and traders cursing the lawmakers who passed the bill and seeking reassurance from their fellow employees that their bonuses wouldn’t be clawed-back. At least one Goldman trader called his lawyer to see what legal protections might be available

(So, lads and lasses, here’s your reassurance. If this bill becomes law, last year’s bonuses won’t fall under the 90% tax. It only applies to bonuses paid after December 31st. So you’ll have till the end of the year to figure out some way around this thing. We’re sure you can do it. Now back to the story.)

“[7u&k] Obama,” one person said aloud on the floor, giving voice to the feeling of political betrayal.

Word spread quickly that because the bonus tax only applies to TARP recipients, foreign banks wouldn’t be covered. At least a few people at Goldman Sachs have already called recruiters. And recruiters have stepped up efforts to poach Goldman employees offering jobs safe from the TARP bonus tax.


TOPICS: Business/Economy; Editorial
KEYWORDS: bho44; bhotaxincrease; goldmansachs; obama; obamathemarxist; obamunism; wallstreet
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To: Behind Liberal Lines
Goldman Sachs was solidly behind Barack Obama. Indeed, Goldman Sachs has long had the reputation as the investment banks with the most Democratic supporters on Wall Street.


101 posted on 03/21/2009 4:45:57 PM PDT by Virginia Ridgerunner (Sarah Palin is a smart missile aimed at the heart of the left!)
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To: Brad from Tennessee

One thing not discussed — it is just too PC — is that GS is the most Jewish and most New York of the major invesment houses. Its last president, Jon Winkelried (spelling off the top of my head), was a big Jewish donor, but don’t let that fool you. Many of GS bigwigs give to make themselves feel good; when it comes down to the protection of the state of Israel, many are found wanting. Now Obama could dump all over Israel, which he has begun to do, and New York is silent. But you start messing with someone’s paycheck? Not in New York you don’t.


102 posted on 03/21/2009 4:50:02 PM PDT by Melchior
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To: Melchior
Melch....

It may be un-PC, but it is a reality. I do not know about GS's clientele, but young brokers are told to go after their "natural markets". Let us not forget how "Bernie" worked that angle. The question, if and when will like the brokers using the "F" word will the clients start getting buyers remorse over the Bamster when their Ox is gored...

103 posted on 03/21/2009 5:08:16 PM PDT by taildragger (Palin / Mulally 2012)
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To: Behind Liberal Lines

I really, really despise the worms at goldman-sucks. Have for years. Bunch of money-grubbing fascist liberals who have manipulated the markets for far too long.

Hope the assh*les end up under a noisy bridge living in cardboard boxes.


104 posted on 03/21/2009 5:15:29 PM PDT by sergeantdave (obuma is the anti-Lincoln, trying to re-establish slavery)
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To: Melchior

I fail to see what your point is. Perhaps you could explain it to me.


105 posted on 03/21/2009 5:23:36 PM PDT by Lirona
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To: Melchior
[. . . you start messing with someone’s paycheck? Not in New York you don’t.]

U.S. Jews supported Reagan. Maybe some of them will come back to the GOP. The method of Obama’s madness becomes clearer every day.

106 posted on 03/21/2009 5:42:41 PM PDT by Brad from Tennessee ("A politician can't give you anything he hasn't first stolen from you.")
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To: Behind Liberal Lines

Poor, poor Goldman Craps

107 posted on 03/21/2009 5:59:46 PM PDT by M. Espinola (Freedom is not 'free'.)
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To: Behind Liberal Lines

Goldman still got their bailout money for undue hedging which was laundered via AIG.

They are still way ahead.

This is fake anger


108 posted on 03/21/2009 6:02:54 PM PDT by bestintxas (It's great in Texas)
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To: uncommonsense
The cap is based on family AGI. So someone who's spouse makes a reasonable wage elsewhere will have their bonus confiscated, even if they make $50K.

I hope one of the people on the receiving end of this sort of unconstitutional thuggery takes it to court and makes a public spectacle worthy of the Roman Coliseum. But I'm not holding my breath.
109 posted on 03/21/2009 6:51:16 PM PDT by visualops (portraits.artlife.us or visit my freeper page)
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To: Behind Liberal Lines

Bunch of stupid Libs continue to vote against their own interests. Same as the Union thugs.

Pray for America and Our Troops


110 posted on 03/21/2009 7:41:55 PM PDT by bray (Join the Rebel Republican Movement!)
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To: jr.ewing.78
This is why most white people voted for him - Bambi was the “in” thing and probably made them all feel good about themselves to boot.

Here's my conspiracy theory - whites voted for Obama to tell the race hustlers to STFU. Deep down, most of them knew Obama will crash, and then they can say "See, we tried to elect a black president and look what happened" and conservatives will return to power.

111 posted on 03/21/2009 7:53:37 PM PDT by Extremely Extreme Extremist ("President Obama, your agenda is not new, it's not change, and it's not hope" - Rush Limbaugh 02/28)
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To: Behind Liberal Lines
I love how obama is uniting the country...against him and his policies!
112 posted on 03/22/2009 5:43:43 AM PDT by GBA
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To: silverleaf

“Wait until Monday morning and the rumors start flying about Drudge’s reports that the One has decided to personally review and manage ALL bank and other Wall Street salaries”

FoxNews is now reporting that this would cover executive salaries at ALL publicly traded companies. IOW, if your company is listed on the NYSE or the NASDAQ, you’re covered.


113 posted on 03/22/2009 6:25:18 AM PDT by DugwayDuke
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To: Behind Liberal Lines
But the vote earlier this week to impose a 90 percent tax on bonuses at TARP supported banks has many at Goldman feeling betrayed, fearful and angry.

My heart bleeds. I hope the tax sticks.

114 posted on 03/22/2009 6:27:42 AM PDT by Fawn (http://tinypic.com/player.php?v=v8320y&s=5)
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To: DugwayDuke

that’s why I have a sell order in for opening on Monday

But my surviving IRA account will probably take a huge bath anyway

We are all suckas


115 posted on 03/22/2009 6:35:53 AM PDT by silverleaf (Freedom's just another word for "nothing left to lose")
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To: Lazamataz

“It is time to oust this communist mutherf****r......”

Laz...Democratic presidents always believe their own sh%^...

JFK dissed the folks that stole the votes in Chicago that made him president....

Bill and Hillary pissed on those bought them their presidency...the health insurers and pharmaceutical companies who thought they’d make out like bandits on national health....

....and Obama just crapped on the guys who thought they’d bought the US Treasury as their final backstop against their failing hedges....these guys have more money than God...it’ll be an amusing ride...just hope it does’nt turn tragic...for eveybody.


116 posted on 03/22/2009 6:37:21 AM PDT by mo
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To: jimbo123

So are you upset that Obama can make such a law (if it sticks) or are you upset they are taxing million dollar bonues to losers who are getting tax money?


117 posted on 03/22/2009 6:43:02 AM PDT by Fawn (http://tinypic.com/player.php?v=v8320y&s=5)
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To: DugwayDuke
IOW, if your company is listed on the NYSE or the NASDAQ, you’re covered.

Tomorrow will be an interesting day on the street.

118 posted on 03/22/2009 6:52:17 AM PDT by ladyjane
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To: Behind Liberal Lines

119 posted on 03/22/2009 6:52:34 AM PDT by Anti-Bubba182
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To: Behind Liberal Lines

If the government can do it to them it can do it to us.


120 posted on 03/22/2009 8:06:11 AM PDT by Piquaboy (22 year military veteran of Navy, Air Force, and Army.)
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