Goldman Sachs reportedly is raking in enough profit this year to pay enormous "bonuses" once again. After repaying its TARP loan of Federal Taxpayer monies, and benefitting from FDIC guarantees and other Federal Bailouts and perks, Goldman Sachs is reportedly negotiating a price with the Treasury Department to repurchase the warrants it gave as part of the collateral for receiving the Federal Taxpayer Monies under TARP.
The New York Times recently reported at the end of a story about Goldman Sachs' great success in 2009: "It is also in talks to buy back a warrant on Goldman stock held by the government." Graham Bowley, "$3.4 Billion Profit at Goldman Revives Gilded Pay Packages" p. A1, col. 2 (New York Times Nat'l ed., Wed., July 15, 2009).
Goldman has the money now, Mr. Geithner. Now is the time to negotiate for a fair and just consideration to be paid to the Federal Taxpayers by Goldman Sachs if it wants its collateral-- its warrants-- back. Now is the time.
Goldman would do no less in negotiations with its own debtors. Show Goldman that you can play in the same league.
Please Read The Disclaimer.
Comments