A Quote by William D. Cohan
Because I wrote a book about Goldman Sachs. And I know that, from talking to people at Goldman Sachs, that Trump is the poster child for the kind of client they don't want to do business with, mainly because he would borrow all this money from Wall Street to build his casinos, and then didn't pay it back.
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Goldman Sachs was one of those companies whose illegal activity helped destroy our economy and ruin the lives of millions of Americans. But this is what a rigged economy and a corrupt campaign finance system and a broken criminal justice is about. These guys are so powerful that not one of the executives on Wall Street has been charged with anything after paying, in this case of Goldman Sachs, a $5 billion fine.
Goldman Sachs was fundamentally responsible for the crash of 2008, but by that time its former Chairman and Chief Executive Officer, Henry 'Hank' Paulson, had been installed as US Treasury Secretary to begin the bank bail out policy, with enormous benefit to Goldman Sachs, in the closing weeks of the Bush administration. Goldman Sachs was also instrumental in the collapse of the economy in Greece that started the 'euro panic' that later engulfed Ireland.
I've nothing against Goldman Sachs. But Goldman Sachs isn't an investment bank. Goldman Sachs is a hedge fund. It's bigger than any hedge fund. It's more leveraged, to the power of three or five, than any hedge fund.
The Justice Department needs to investigate how Goldman Sachs was able to steer things in such a manner through their former employees in the Bush administration, so that in the end Goldman's competitors have disappeared and Goldman is left standing.
I left Goldman Sachs. I was thinking about going to another Wall Street place. I didn't want to do that. That was crazy. After you work on Wall Street, it's a choice: would you rather work at McDonald's or on the sell side? I would choose McDonald's over the sell side.
Donald Trump has appointed people from Goldman Sachs to his government. He said all sort of things that you would think would really annoy his core supporters. This is one of the big issues he ran on.
You want to know who owns America? A few at the top. And they've got one thing on their mind. No change. Look at Obama, all that hope and promise. No change. He went to Wall Street, had a fundraiser—$35,800 a ticket—and you know who the host was? Goldman friggin' Sachs.
Our number one agenda is to get money out of politics, to drain the swamp, but not in the way that Trump said. He stacked his cabinet full of Goldman Sachs guys.
Wall Street is perhaps the most powerful economic and political force in this country. You have companies like Goldman Sachs, who just recently paid a settlement fine with the federal government for $5 billion for defrauding investors.
I don't agree with Bernie Sanders that the banks should be broken up at this point. But Hillary Clinton's acceptance of huge contributions from Goldman Sachs and others... And we don't debate what Clinton has done. She has a public record. She's been Secretary of State. She's basically a candidate of Wall Street, for Wall Street.
I loved my career at Goldman Sachs. I believed in business principle number 1: if the client succeeds, our own success will follow. This principle formed the basis for my career and my leadership style.
I'm not talking about Trump's brand but rather the intimately connected brand called "make America great again" that he created to make all these promises to working Americans - is intensely vulnerable, if there is sustained scrutiny of the kind we've seen about Comey and Russia. He's appointed five Goldman Sachs former executives to his Cabinet, his commerce secretary is renegotiating NAFTA to make it far better for corporations and worse for workers, and they're talking about this right out in the open... I mean, how much news have you seen about that?
The question is how does Hilary Clinton fit in this broader network? She's a centralising cog. You've got a lot of different gears in operation from the big banks like Goldman Sachs and major elements of Wall Street, and Intelligence and people in the State Department and the Saudis.
Does anyone believe that Goldman Sachs is gonna give up a deal that would yield millions of dollars because someone fussed at them behind closed doors?
The dirty little secret of what used to be known as Wall Street securities firms-Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, and Bear Stearns-was that every one of them funded their business in this way to varying degress, and every one of them was always just twenty-four hours away from a funding crisis. The key to day-to-day survival was the skill with which Wall Street executives managed their firms' ongoing reputation in the marketplace.
The concept of productivity in America is income divided by labor. So if you're Goldman Sachs and you pay yourself $20 million a year in salary and bonuses, you're considered to have added $20 million to GDP, and that's enormously productive. So we're talking in a tautology. We're talking with circular reasoning here.
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