Showing posts with label Wall Street. Show all posts
Showing posts with label Wall Street. Show all posts

Saturday, 27 February 2016

Want to know what was in Clinton's speech to GS?

Let's just get something straight. I am an ex-employee of Goldman Sachs and was lucky enough to have heard one (of many, I assume) of Clinton's speeches to the haves at Goldman Sachs. I wasn't invited, but managed to, due to some chance circumstances. I am no longer an employee of the bank and find it difficult to digest Clinton's hogwash in the news every single day. This is all you get about me. Like some other jackasses online, I don't claim to have a fucking transcript of the speech and I definitely don't remember any single line verbatim from her original speech.

I really don't know why Clinton's acting like a scared bitch and screwing up what could possibly be the easiest ever Presidency what with the Republicans ensuring that their final nominee would be so bloodied so as to be unwinnable. I don't know how many of you know this but Hubby dearest, Mr Clinton REPEALED (it means removed) the original 1930's act that broke up the banks. And looking at what's being said about the Missus, you don't screw over an industry that netted you $11Mn to give a couple of random speeches. BTW, note the figure here. No speech can be worth that amount of money. What matters is what the money implies. Even if you get "UNDOCTORED" transcripts of her speeches, I doubt you'll find the content as incriminating as whatever the old hag is sure to have cooked up behind the doors.

The speech had NO MENTION of the crisis. Obviously, you know that. The general theme seemed to be the great role American banks in general (and Goldman in particular) are playing to get the economy back on track. (For those of you who don't know, American banks like BofA, JP Morgan, Morgan Stanley and Goldman are in pretty strong positions right now. The Europeans on the other hand like RBS, Barclays and Deutsche are all fucked. Really badly. Do a simple Google search). Anyway, the theme was that along with Tech, Big Finance is one of the few industries that contributes to America's global pre-eminence and that we need leaders who "understand why this position exists and contributes towards strengthening this for posterity." Get this, because this is really twisted. She made an allusion to her husband's policies (without specifically naming any act) and wanted the audience to know that she knows what it takes to preserve American dominance in the banking sector. Translation: I know you think the Democrats are all baying for your blood but I understand. And this is what really annoys me because the reason American banks like JP Morgan are in such positions of strength is BECAUSE of these regulations, they have dumped their toxic assets, their balance sheets are rock solid and they are well-capitalized (meaning they have enough greens to ee themselves through the next shit storm). 

Something else which I distinctly remember from her speech was her tone: she constantly referred to herself, Lloyd and the powers-that-are at Goldman as "us" and made more than one reference to the general population as "they" in terms of, we know what's best for them. "They" don't understand high-finance, we do and we'll do what's right by them. Now don't get me wrong, she OBVIOUSLY WASN'T talking about screwing over working-class Americans. But the impression that she gives off on the campaign trail, the whole "Fighting for you" nonsense, no sirs. The way she meant in that particular session was these "little people" don't know what they are talking about when it comes to banks, we need leadership that does and something about a "trickle-down" effect of making American banking strong so that the "little people" could feel the benefits trickling down. Oh, and there was more than one joke about Occupy Wall Street and the "misguided (again) little people" behind them.

Trust me because I am (have been) in the business. We, as an industry don't give away $11mn unless we expect to make at least a 100 from it. Clinton, at least on paper seems to be a better candidate than some idiots who got the direction of the Game of Thrones Wall wrong. But her overbearing self on TV, being so stubborn about those speeches cut it for me. I'll be pasting this link here and there and hope it catches on. I'll go get some of that delicious curry now. Later.