Here are some great links to videos of different opinions on Goldman Sachs, the economic crisis
How Goldman Sachs Survived
Obama working for Goldman Sachs?
Max Keiser takes Offense to Goldman Sachs Story Part 1
Part 2
Monday, October 26, 2009
Constant Criticism
Being one of the biggest financial corporations in the world...everyone becomes a critic of Goldman Sachs. This is one of the reasons why I became so intrigued by them. They are constantly in the media, however not in the way that other companies are portrayed in the media.
Goldman Sachs rarely puts itself out to the media for quotes or opinions, so when they do speak, its scrutinized to every huff, puff, period, sigh and eye roll. Several sites, mainly this one, are so anti-goldman sachs that they have attracted attention daily from people within Goldman Sachs to shut them down.
This page of Rolling Stone, is made by Matt Taibbi, who wrote "The Great American Bubble Machine" in Rolling Stone. It has recieved an incredible amount of media attention.
Goldman Sachs rarely puts itself out to the media for quotes or opinions, so when they do speak, its scrutinized to every huff, puff, period, sigh and eye roll. Several sites, mainly this one, are so anti-goldman sachs that they have attracted attention daily from people within Goldman Sachs to shut them down.
This page of Rolling Stone, is made by Matt Taibbi, who wrote "The Great American Bubble Machine" in Rolling Stone. It has recieved an incredible amount of media attention.
The Facts
In 2009, 43 Goldman Sachs offices partnered with 828 nonprofit Community Partners worldwide.
Over 22,800 Goldman Sachs people joined with family and friends to contribute over 134,247 hours to the communities where we work and live.
Volunteers participated in 1,778 projects and assisted 12,430 infants, 69,546 children, 36,798 adolescents, 33,453 adults, 13,756 elderly, 33,491 persons with disabilities/special needs and 13,795 animals;
volunteered at 182 community events; painted 102 murals, 219 rooms and 34 community buildings; renovated 80 rooms;
renovated and helped build 56 community buildings/homes and 19 playgrounds; built 13 homes with Habitat for Humanity;
beautified 35 beaches and 104 parks; planted 278 gardens, 1,378 trees and 49,356 flowers; served 27,480 meals;
packaged 170,197 lbs. of food; delivered 64,948 meals; constructed 3,000 yards of fencing; beautified 934 acres and 25 miles of land.
Over 22,800 Goldman Sachs people joined with family and friends to contribute over 134,247 hours to the communities where we work and live.
Volunteers participated in 1,778 projects and assisted 12,430 infants, 69,546 children, 36,798 adolescents, 33,453 adults, 13,756 elderly, 33,491 persons with disabilities/special needs and 13,795 animals;
volunteered at 182 community events; painted 102 murals, 219 rooms and 34 community buildings; renovated 80 rooms;
renovated and helped build 56 community buildings/homes and 19 playgrounds; built 13 homes with Habitat for Humanity;
beautified 35 beaches and 104 parks; planted 278 gardens, 1,378 trees and 49,356 flowers; served 27,480 meals;
packaged 170,197 lbs. of food; delivered 64,948 meals; constructed 3,000 yards of fencing; beautified 934 acres and 25 miles of land.
GS in the Community
The people of Goldman Sachs are committed to assisting those in need and the communities around the world through volunteer endeavors and partnerships with nonprofit organizations.
Goldman Sachs helps serve the community through multiple outlets.
Public Service Program
Goldman Sachs Foundation
Employee Giving
Community TeamWorks
The Community TeamWorks (CTW), its signature volunteer program, embodies this commitment and gives their employees time off from work each season to volunteer in a team-based project coordinated with local nonprofit organizations. Each year, CTW offers innovative volunteering opportunities worldwide This program allows each person one day away from work to volunteer on a team-based project with a non-profit organization. In 2009, over 22,800 Goldman Sachs people joined with family and friends to contribute over 134,247 hours to the communities where they work and live. This helps make a tangible difference in the community and that foster inter- and intra-divisional camaraderie within the firm.
Goldman Sachs launched the Public Service Program in 2004. The program underscores their commitment to leadership and expands the platform for their people to be catalysts for change in their community. Public Service Program Fellows are selected and given paid leave for one year to serve at organizations aligned with the firm's corporate engagement interests.
These fellows have created organizations that embody and continue to promote Goldman Sachs commitment to leadership and philanthropy.
Sometimes, and more often lately, Goldman Sachs gets criticized for the high salaries given to its employees. Goldman Sachs has two programs to enhance its reputation in this aspect. It has the Employee Giving program and the Goldman Sachs Foundation.
The Employee Giving, also called Goldman Sachs' Matching Gift Program, encourages employees to support their favorite charitable organizations. Employee gifts up to USD $20,000 are matched on a 1:1 basis per employee per calendar year to eligible nonprofit organizations.
The Goldman Sachs Foundation was funded in 1999 with a $200 million donation from The Goldman Sachs Group, Inc. The Foundation's mission is to promote excellence and innovation in education worldwide. The Foundation, administered by the Goldman Sachs Office of Corporate Engagement, is an important extension of the tradition of philanthropy and public leadership at Goldman Sachs. Grants have been awarded in excess of $114 million since its inception, providing opportunities for young people in more than 20 countries.
Some ways this money is spent is through scholarships as well as conferences and learning seminars for youth around the world.
CEO Blankfein
Goldman Sachs Chairman and Chief Executive Officer:
Mr. Lloyd C. Blankfein
As according to the Goldman Sachs website....
"Mr. Blankfein has been our Chairman and Chief Executive Officer since June 2006 and a director since April 2003. Previously, he had been our President and Chief Operating Officer since January 2004. Prior to that, from April 2002 until January 2004, he was a Vice Chairman of Goldman Sachs, with management responsibility for Goldman Sachs’ Fixed Income, Currency and Commodities Division (FICC) and Equities Division (Equities). Prior to becoming a Vice Chairman, he had served as co-head of FICC since its formation in 1997. From 1994 to 1997, he headed or co-headed the Currency and Commodities Division. Mr. Blankfein is not on the board of any public company other than Goldman Sachs. He is affiliated with certain non-profit organizations, including as a member of the Harvard University Committee on University Resources, the Advisory Board of the Tsinghua University School of Economics and Management and the Governing Board of the Indian School of Business, an overseer of the Weill Medical College of Cornell University, and a director of the Partnership for New York City and Catalyst."
Tuesday, October 6, 2009
Rolling Stone Article Puts Goldman Sachs at Blame for Country's Problems
Contributing editor of the Rolling Stones, Matt Taibbi, wrote an article in Rolling Stone Issue 1082-83 titled "The Great American Bubble Machine" in which he contributed many of the problems of the past two decades to Goldman Sachs and other large banks. The 12-page spread was an unusual article to be published by Rolling Stone, which usually features articles based on the entertainment business.
Taibbi describes how, in his opinion, Goldman Sachs contributed to ast year's run-up in oil prices, the tech-sector boom and bust at the turn of the century and the current mortgage crisis. And not to his surprise, the company was able to give billions in bonuses and salary raises at the end of 2008, when the US was amidst one of its worst economic times.
Goldman Sachs is active in the community and creates positive publicity through that, however GS is generally press-shy. In response to this very popular issue, Lucas Van Praag, bank's spokesman, spoke out. "[Taibbi's] story is an hysterical compilation of consipracy theories. Notable ones missing are Goldman Sachs as the third shooter [in John F. Kennedy's assassination] and faking the first lunar landing. We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance in being a force for good."
When researching more information on responses made by Goldman Sachs, it was difficult to find. GS really does have a way of keeping its opinions out of the press...which is odd since they are in it day, after day, after day. The most popular amounts of hits had to do with press that was bad about Goldman Sachs. They did not do a good job in defending the positions and actions of the company over the past few decades, and most importantly right now.
If I was in the PR department of Goldman Sachs I would question the boldness of Taibbi and the validity of his statements. As an employee of a financial company we deal with numbers and more importanly dollar signs. Since he critiqued and bashed the use of our dollar signs, I would challenge him to explain how he arose at the numbers that we apparantly profited off of. We would also question the statements made about how we have affected the normal citizens of our country. We would advise him to look into more about our company and discover the enormous good we do for our citizens.
Taibbi describes how, in his opinion, Goldman Sachs contributed to ast year's run-up in oil prices, the tech-sector boom and bust at the turn of the century and the current mortgage crisis. And not to his surprise, the company was able to give billions in bonuses and salary raises at the end of 2008, when the US was amidst one of its worst economic times.
Goldman Sachs is active in the community and creates positive publicity through that, however GS is generally press-shy. In response to this very popular issue, Lucas Van Praag, bank's spokesman, spoke out. "[Taibbi's] story is an hysterical compilation of consipracy theories. Notable ones missing are Goldman Sachs as the third shooter [in John F. Kennedy's assassination] and faking the first lunar landing. We reject the assertion that we are inflators of bubbles and profiteers in busts, and we are painfully conscious of the importance in being a force for good."
When researching more information on responses made by Goldman Sachs, it was difficult to find. GS really does have a way of keeping its opinions out of the press...which is odd since they are in it day, after day, after day. The most popular amounts of hits had to do with press that was bad about Goldman Sachs. They did not do a good job in defending the positions and actions of the company over the past few decades, and most importantly right now.
If I was in the PR department of Goldman Sachs I would question the boldness of Taibbi and the validity of his statements. As an employee of a financial company we deal with numbers and more importanly dollar signs. Since he critiqued and bashed the use of our dollar signs, I would challenge him to explain how he arose at the numbers that we apparantly profited off of. We would also question the statements made about how we have affected the normal citizens of our country. We would advise him to look into more about our company and discover the enormous good we do for our citizens.
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