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L. Neil Smith's
Number 528, July 19, 2009


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Goldman Sachs Laughs All the Way to Their Bank
by Jim Davidson

Special to The Libertarian Enterprise

Today's Financial Times has two interesting stories about Goldman Sachs. In one, they report that owners of Goldman Sachs bailed out of $438 million in stock between September 2007 and April 2008, followed by sales of $691 million in stock after Lehman Brothers failed in September 2008 over the following eight months. Financial Times noted that these sales of stock liquidated positions held by Goldman Sachs shareholders at a time when the government had provided over $10 billion of taxpayer money to prop up the company.

You may find that story at this link.

In addition, Goldman Sachs employees are expected to receive bonus compensation, again for a period during which the American taxpayer is on the hook for billions in trouble asset relief program and other funds to Goldman, at record levels. The top paid skunk in 2006, John S. Weinberg sucked in $26 million that year. The average Goldman employee is raking in $700,000 in base compensation, with huge bonuses on top.

That story is found here.

Goldman Sachs set aside about $11 billion for compensation for the first six months of 2009. They also "paid back" the TARP funds before the compensation limitations kicked in.

You can find the names of some of these scum in the 10K and 10Q filings found here.

Other names are found here.

So, if you are out of work, or hungry, or just want to have some fun, I suggest looking up their addresses and going to their homes. Ask them for work, or help with your situation. They can afford it, and they have gotten plenty of help from you.

Here's the deal. The government has declared war on bankruptcies of big, well-connected banks. Goldman Sachs losses are your problem, because your politicians say so. So their profits ought to be yours, at least in part, since you stand as lender of last resort. Go get some of yours. And if they won't give you anything in return for your investment, piss on their rose bushes. Drive by and fling feces at their lawn. Honk your horn in the middle of the night, make sure they know that you know where they live.

This business of big banking isn't a free enterprise. It isn't something you or I could start doing tomorrow. There are licenses, filings, forms, inspections, regulatory idiots to pay off, kickbacks, corruption, and, of course, cozy deals between the secretary of the Treasury (current and former) and the bank. Plus the Federal Reserve system is a cartel in restraint of trade.

Audit the Fed? Why audit it? Let's end it. Close it down, sell its assets, and distribute the profits to the people. Put its officers on trial for treason, and see if we can get some convictions. Let the trap doors swing open and let these men dangle on ropes thinking about their crimes against humanity.

When the Federal Reserve was created a hundred years ago, the purchasing power of the dollar was more than twice what it is today. How much more? Well, an ounce of gold cost $20 then and costs $925.90 now. That's 4,530% monetary inflation.

Who got the benefit of all that monetary inflation? The bankers. Where did they get it from? Your wallet, and mine, and your parents, and their parents. For some of you your parents' grandparents.

There's no need to audit their crimes, though that would be a start. It's time to end their crime spree. It is time to bring them to justice.

The war on gold, the war on bankruptcies among big banks, the war on drugs, the war on terror, all these are wars on the American people. The politicians and bureau-rats take from you and give to their friends in the banking cartel and the defense contractor companies. Then the CIA locks up dissidents and tortures them to death and the military blows up children in foreign countries and slaughters their parents.

So what are you gonna do about it? Nothing. You are going to sit there and read your computer screen. Which is why you are a slave and they bestride the landscape like giants.

Your destiny is not in your stars, but in your selves, that you are underlings.

Jim Davidson is an entrepreneur and author. He is currently pursuing a no-state wedding registry project (with birth, death, and divorce registries to follow) and two film projects. His feature film project is Alongside Night and detailed at and his documentary film project is Destination Resorts in Orbit detailed at


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