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.
For supposedly being bright people, they sure were easily hoodwinked. Serves them right.
And, oddly, as the GS folks prove, they never figure that it will affect THEM until ... it does.
.
"X" gives a bonus is in the form of a loan. Young Turk broker moves in new firm and goes out and gets the Ferrari......
I suppose Goldman Sachs could announce that Obama’s economy is hopeless and they are shutting their doors forever.
That might take the wind out of Obama.
Someone needs to play hardball with these communist wanna-bees.
Just shut the whole damned economy down....they wanted change, give em lots of it.
Better for the frog to jump out of the boiling pot now.
Too bad. It’s all so unnecessary. Even a superficial and very brief review of the lessons of history would have indicated to these fools that the Useful Idiots are the first to be sacrificed by revolutionary leadership, sent off to the gulags, and stood up against the wall.
Oddly, it seems that our newer generations have come to believe that we’re somehow at “the end of history” and the indelible lessons of times passed don’t appy to them.
Possibly it’s a failure of our dumbed-down educational system; possibly it’s due to an egocentric and misplaced optimism - probably it’s a little of each.
They should of known better than to believe a Community Organizer from Chicago’s south side.
Please please please please please enact the tax!
They should know better to back a committed Marxist. What did they expect. They are willfully ignorant.
Click the Pic
Kind of like the D.C. parents who just had their kids' school vouchers yanked out from under them. How do you like your Democrat rat hole government schools, Obama voters?
A Democrat walks warily down the street,
With the brim pulled way down low
Ain’t no sound but the sound of his feet,
Registration card ready to go
Are you ready, Are you ready for this
Are you hanging on the edge of your seat
Into the ballots the levers trip
Voting to the sound of the beat
Chorus
Another one under the bus
Another one under the bus
And another one gone, and another one gone
Another one under the bus
Hey, I voted for him too!
Another one under the bus
How do you think I’m going to get along,
Without you, when you’re gone
You took me for everything that I had,
And kicked me out on my own
Are you happy, are you satisfied
How long can you stand the heat
Into the ballots the levers trip
Voting to the sound of the beat
Chorus
Another one under the bus
Another one under the bus
Another one under the bus
Another one under the bus
There are plenty of ways you can hurt a man
And bring him to the ground
You can beat him
You can cheat him
You can treat him bad and leave him
When he’s down
But I’m ready, yes I’m ready for you
I’m standing on my own two feet
Into the ballots the levers trip
Voting to the sound of the beat
“1. Bring annual salary compensation below $250k maximum”
2. Goldman makes interim loans to employees guaranteed against expected bonus for cash flow needs of key producers
3. Unlimited bonus and no 90% bonus tax since tax applies only to those employees making $250k+.”
This is incorrect hogwash.
1: If the spouse has even $1 worth of any income (or WS worker has some other income, as most do), that would be subject to 90% tax.
3: No, anybody who has family (married filing jointly) income more than 250k after bonuses will be hit.
For example, say, a Wall Street mid-level IT manager makes $150k and spouse makes $100k. If the IT manager (or spouse) gets $15k bonus, it will be taxed at 90% (actually more because of state taxes).
Making loans is irrelevant. If it is forgiven, it is income.
The catch is, if they had of elected someone who hadn’t of bailed them out, they’d all be unemployed anyway right now. Nearly all of these places would have gone under. They were F’d no matter what happened.
Are you sure it is salary of $250K or AGI?
“I wonder if McCain would win if the election were reheld TODAY..(not that he’d be that much better)..”
I’m sorry but one of the greatest threats to our country is illegal immigration of which McAmnesty falls on the wrong side of this issue.
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