Bernie Sanders
Related: About this forumWhy Goldman CEO Lloyd Blankfein Called Bernie Sanders “Dangerous”
Lloyd Blankfein, longtime CEO of Goldman Sachs, didnt like what Bernie Sanders said about him in early January, and he fired back on CNBCs Squawkbox last week, saying Sanders critique has the potential to be a dangerous moment.
But theres more to that story than it appears. Its not simply that Sanders uses Blankfein as a symbol of the greed of Wall Street its that Sanders does so while highlighting the evocative contrast between the 2008 bailout of Wall Street and Blankfeins public advocacy for cuts to entitlements.
Sanders took offense when Blankfein, in a 2012 segment on 60 Minutes, said, Youre going to have to undoubtedly do something to lower peoples expectations that they will get their full Social Security and Medicare benefits because we cant afford it. Blankfein advocated an increase in the eligibility age for both programs as well as other cuts because entitlements have to be slowed down and contained.
Soon afterward, Sanders excoriated Blankfein in a speech from the floor of the Senate titled The Face of Class Warfare:
SANDERS: Sometimes there is no end to arrogance.
Lloyd Blankfein is the CEO of Goldman Sachs.
During the financial crisis Goldman Sachs received a total of $814 billion in virtually zero-interest loans from the Federal Reserve and a $10 billion bailout from the Treasury Department.
And now with his huge wealth he is coming here to Washington to lecture the American people on how we have got to cut Social Security, Medicare, and Medicaid for tens of millions of Americans who are struggling now to keep their heads above water.
https://theintercept.com/2016/02/08/why-goldman-ceo-lloyd-blankfein-called-sanders-dangerous/
Nite Owl
(11,303 posts)No soul there.
Jester Messiah
(4,711 posts)In earlier times he'd be tarred feathered and run out of town. Sometimes the old ways are best.
bjo59
(1,166 posts)in which it was claimed that "too much democracy" was "anti-democratic." Too much democracy is obviously very dangerous for oligarchy.
think
(11,641 posts)NOVEMBER 1, 2009 12:00 AM
In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers that it also was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. Now, a five-month McClatchy investigation has found that Goldman's failure to disclose those secret bets may have violated securities laws
Read more:
http://www.mcclatchydc.com/news/politics-government/article24561376.html
http://www.theguardian.com/business/2016/apr/11/goldman-sachs-2008-financial-crisis-mortagage-backed-securities
Wellstone ruled
(34,661 posts)One main thing to remember and that is the Country of Chile. Most young people have zero idea the what and why when it comes to Sanders chiding Blankfein. Goldman Sachs as well as Citi Group and JP Morgan help Pinoche raid Chili's National Pension System which was a twin of our Social Security System and replace it with a system which relied upon their Stock Market. You can guess where the money went and that so called system went bust.
BTW,Blackock(Fink who is a economic advisor to HRC)and Goldman Sachs are floating a Modernization of Social Security Fund,or as it is commonly called,privatization,and replacing is with convoluted Annuity System which could be transferred from Employer to Employer. You can kiss 54 Trillion good bye if this happens. And we thought the Mortgage Bonds was a major rip off.
octoberlib
(14,971 posts)God, she's horrible. I'm convinced SS will be the first thing to go if she's elected.