Goldman Sachs CEO says it's not Wall Street's job to 'ostracize Russia' amid calls on social media

[Yo_Mama_Been_Loggin]

Source: Business Insider

for corporations to pull out of the country

Goldman Sachs CEO David Solomon said it's not Wall Street's job to "ostracize Russia" despite growing calls on social media to do so, he said in a Time interview published Sunday,

"I don't think businesses are supposed to decide how global trade works in the world. Government sets policy and then businesses follow that policy," he told Time executive editor John Simons, adding that he "strongly" agrees with the sanctions placed on Russia following its invasion of Ukraine.

Goldman Sachs became the first major bank to announce it was shutting down operations in Russia last week, as the industry faces both legal and public pressure to sever ties with the country.


Just a few hours later, JP Morgan also announced it would be joining the corporate exodus. On Friday, Deutsche Bank reversed course after its CEO received swift backlash for telling employees that a Russian exit wasn't "practical" and would go against the bank's "values."

Read more: https://www.msn.com/en-us/money/companies/goldman-sachs-ceo-says-its-not-wall-streets-job-to-ostracize-russia-amid-calls-on-social-media-for-corporations-to-pull-out-of-the-country/ar-AAV0NSD

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[turbinetree]

1. Bullshit.....greed is the policy....

[OldBaldy1701E]

33. BINGO! (n/t)

[Magoo48]

45. The morbidly rich are an ever growing tumor on the brain of the world,

[NotHardly]

46. Seizure of Goldman Money-sacks a Russian-backed organization might help them see the light

Mr. Big Brains there needs to read up on his history of US in WWII. He would find it 'enlightening'.

[NotHardly]

47. In WWII the US would seize all the assetts of that asshat's whole company

Big Brain dude at Goldman's must have graduated from Trump University

[PoliticAverse]

2. It also apparently wasn't "Wall Steet's job" not to defraud people. n/t

[Walleye]

3. Fine, asshole, go trade on the Russian stock exchange. Oh right it's closed

[pazzyanne]

31. . . . and revoke corporations' "personhood". nt

[hatrack]

5. Yes, it's their job to make as much money as possible ASAP from the war . . . .

I wonder what it's like going through life in a moral vacuum.

Fuck David Solomon and fuck Goldman Sachs.

[benfranklin1776]

41. Amen!

It’s this sociopathic worship of money at the expense of human life that is the disease of modern “civilization”, and people like this soulless cretin are the superspreaders.

[Locrian]

48. Amen indeed...

Not religious - but it anything is "evil" - this (sociopathic worship of money at the expense of human life) is it.

[electric_blue68]

6. Just... wow. FU, dude!

[Evolve Dammit]

7. Sell your soul for a buck. Oh, you did already? Well, enjoy your ride no matter who dies, asshole.

[mjvpi]

8. Proof that corporations are NOT people.

[Ponietz]

12. +1

and congrats on your 1,000 post.

[jalan48]

9. We're not political-we just make money.

[bringthePaine]

10. y'mean Goddam Sux, yeah?...

[madaboutharry]

11. "When people tell you who they are believe them,

the first time.” David Solomon is obviously a greedy twit. We should thank him for letting us know.

[Evolve Dammit]

13. Wasn't Jesus really miffed with the "money changers?" Has anything changed? n/t

[PatSeg]

40. Nope

and the hypocrites are still with us as well.

[Cheezoholic]

14. Of course its not

They are part of the corporate fascists that hate democracy. Its the grand plan of world dominance by these fucks

[BumRushDaShow]

15. "I don't think businesses are supposed to decide how global trade works in the world."

WTF does he think that Goldman-sSachs DOES do when they carry out their business functions????

Global Markets

Operating at the center of global financial markets, our Global Markets professionals serve institutional clients including Asset Managers, Hedge Funds, Banks and Brokerages, Pensions, Endowments and Foundations, Corporations, and Governments.

We seek to deliver to our clients leading market insight, risk management and execution, helping them to raise money, invest, and transfer risk across financial asset classes.

https://www.goldmansachs.com/what-we-do/global-markets/

3 days ago, they tweeted this -

Link to tweet

Goldman Sachs
@GoldmanSachs
Our Chairman & CEO David Solomon releases a statement on the war in Ukraine and winding down the firm’s business in Russia: https://click.gs.com/4rjm
Image
5:37 PM · Mar 10, 2022

The tweet has a link to the CEO's statement posted in LinkedIn -

David Solomon’s Post


Chairman & CEO at Goldman Sachs
3d

(snip)

Goldman Sachs is winding down its business in Russia in compliance with regulatory and licensing requirements. We are focused on supporting our clients across the globe in managing or closing out pre-existing obligations in the market. As we navigate this fluid and challenging environment, I want to thank all of our people for their hard work and diligence.

https://www.linkedin.com/posts/david-m-solomon_our-hearts-go-out-to-the-ukrainian-people-activity-6907781305048911872-DYfp

[ashredux]

16. David...it IS your business... you better start thinking long-term

And that’s not to mention, the difference between right and wrong. Best to come out on the right side, and not the wrong side. Just saying

[yaesu]

17. Does this surprise anyone, wall street putting profits above lives? nt

[OldBaldy1701E]

34. Hell no! (n/t)

[EarnestPutz]

18. It will be our "Job #1" to remind this twit of this the next time he complains about government....

.....regulation of the free markets.

[BigmanPigman]

19. I hope Stephanie Ruhle covers this again on her

MSNBC show Monday night. I want this to be known by people who can apply pressure to change course.

[dlk]

20. When someone has no conscience...

Last edited Mon Mar 14, 2022, 09:09 PM - Edit history (1)

Then can (and often) do anything.

[Renew Deal]

21. He's right.

Companies are pulling out for both practical and business reasons, but his core point is accurate. There is no obligation to do so.

[yaesu]

24. Just like there was no obligation for tax payers to bail them out, right? nt

[Renew Deal]

29. Exactly

I do wonder why they pulled out. Is it for business reasons or PR reasons? I'm guessing business reasons came first, since doing business there was likely impossible.

[KentuckyWoman]

22. Special taxes on profits from Russian business.

Any financial or investment vehicle used to make money in Russia... special taxes - 90% +

[Javaman]

23. Why exactly were they bailed out? nt

[OldBaldy1701E]

35. Because the oligarch-fueled propaganda worked. (n/t)

[Javaman]

37. +1000 nt

[LudwigPastorius]

25. Oh, FFS!

Even the Swiss banks (who profited from Nazi genocide) are freezing Russian assets.

They learned from their history of playing footsie with mass murderers.

I would think that a Jewish man would see Putin's bombing of a Holocaust memorial as maybe a sign that he shouldn't be doing business with him.

[Cognitive_Resonance]

26. The epitome of a greedy parasite. nt

[NewHendoLib]

27. Amazing to see once more how wealth and power lead to extreme tone deafness...and ignorance

[multigraincracker]

30. how much have they spent

on buying influence of politicians? LOTS

[Solly Mack]

32. Guess they'll be firing their lobbyists and ceasing their campaign donations.

You know, since, they are just so far removed from influencing/making policy.

I'm sure Goldman Sachs has never bought a politician before to get a favorable result.

Right?

Right?

[OldBaldy1701E]

36. Oh never!

The idea that our saintly oligarchy would ever do anything like that is just laughable...

Isn't it?

[elias7]

38. We had no obligation to bail them out in 2008; then again we weren't given the choice

We as taxpayers had no say in bailing out banks too big to fail, yet somehow it happened.

Fortunately, GS did take the lead on shutting down operations with Russia and they do agree with sanctions. His point was that government sets policy and they follow suit. At least that does not sound so much like a fascistic stance.

[melm00se]

39. Its called leadership

you dip shit.

If you wait for government policy, you are just a follower. If you blaze a trail you are a leader.

[bucolic_frolic]

42. I take this as confession of amorality, money is all that matters /nt

[avebury]

43. Government has set a policy of sanctions against Russia

so David Solomon needs to suck it up and follow that policy.

Wall Street is not the ones ostracizing Russia, Russia did to themselves. Wall Street is just following the decisions of governments to issue sanctions.

Would Solomon prefer an all out WWIII? Probably if it ultimately means more money for them.

[lagomorph777]

44. I wanna kick him right in the golden sacks.