Drain That Swamp!

[Adam White]

No way the lovely people at Goldman Sachs wasted our taxpayer dollars on lowly Kool Aid!

[MusicMan]

"They are easily the smartest people in the room while academia is all talk and theory and no tangible achievements."


And really good at getting fined, evidently.

http://www.nytimes.com/2016/01/15/business/dealbook/goldman-to-pay-5-billion-to-settle-claims-of-faulty-mortgages.html

Now that is quite an achievement.

[Gunnar]

"They are easily the smartest people in the room while academia is all talk and theory and no tangible achievements."


And really good at getting fined, evidently.

http://www.nytimes.com/2016/01/15/business/dealbook/goldman-to-pay-5-billion-to-settle-claims-of-faulty-mortgages.html

Now that is quite an achievement.

It may actually be an achievement is you compare their fines to those of other banks - it really depends on exposure / past profits vs. current fines.

[MusicMan]

And you should look at the "why" of the fine.

They screwed a lot of people over in order to make money. That's nice.

[Gunnar]

I am aware of the reasons for the fine. I just pointed out that if their share of the total fine is lower than their share of the previous market / business then they did a good job on that part.

[Adam White]

I am aware of the reasons for the fine. I just pointed out that if their share of the total fine is lower than their share of the previous market / business then they did a good job on that part.

It might indeed be a savvy business move. But not necessarily indicative of the kind of people you want setting public policy!

[MusicMan]

Yes. I think the basic business premise is this:

We can make $100,000,000,000 billion breaking the law, and get fined $5,000,000,000,  that's good business!

Damn, why didn't I think of that?