CHESSNOID

Is it Wall Street culture where a man who makes more than someone else will not listen to someone who makes less than him?  For example, the Goldman Sachs CEO Lloyd Blankfein doesn’t care what the President of the United States’ opinion is because he makes more. When he was requested to meet with him, he big leagued the POTUS. In the State of the Union, President Obama tries to align himself with the populist views and talks about hating the bailouts and the bonuses. Yet, it was he and his administration that allowed it to happen.  They simply made bad decisions.

What most people don’t realize or refuse to believe is that President Obama and the Democratic majority Congress have made poor decisions in the last year that now have come back to bite them.   All the spending on bailouts that accomplished nothing, stimulus packages that didn’t stimulate, and many other government projects that failed have come at a great cost.  I am not just speaking of the ballooning deficits which seem to be on the news everyday.  I am speaking of the eroded confidence and hope of Americans who believed in change and instead were shortchanged with broken promises.

This article in Gawker was good.

$100 Million Says Obama Is Pissed About Goldman Sachs CEO’s Record Bonus

Goldman Sachs is wasting no time doing exactly what Obama complained about in his SOTU last week: handing out enormous bonuses. The Times of Londonreports that Goldman is planning to pay CEO Lloyd Blankfein a record $100 million bonus.

Obama has been very publicly waging his popular War on Bank Bonuses (Remember that time Obama called bank bonuses “obscene” and everyone flipped out? And then he bashed huge bonuses as “the height of irresponsibility“. And said bad things about bonuses last week in his SOTU.) And it seems to have worked, at least superficially. Investment banks are cutting back on bonuses—including Goldman, who are giving sweet mortgages to their employees in lieu of bonuses.

But now: Blankfein’s looking to net a cool $100 million for riding his vampire squid to record profits last year—way more than his previous record take of $67 million in 2007. And this after he snubbed Obama back in December due todubious “inclement weather.” Goldman’s strategy must be to give Blankfein enough money to build a subterranean Obama-proof bomb shelter, stock it with provisions and plasma screens, lock the big doors and emerge only when the world is again made safe for investment bankers (~2014).