Take the money and run

Think Progress

Less than three years after receiving $10 billion in bailout money from American taxpayers, Goldman Sachs informed its employees recently that it will fire 1,000 workers in the United States and elsewhere, shifting their jobs to the cheaper Singaporean labor market.


With today’s news, Goldman joins the ranks of top U.S. corporations like GE, Chevron, Intel, and others who have collectively outsourced over 2.4 million American jobs in the past decade.

Notice the vagueness over exactly when Golden Sacks took the bailout money. The bailout took place just before the 2008 election and was passed by a Democratic Congress and signed into law by George the Lesser.

But guess what company’s executives were big donors to Barack Obama?

BTW – for any CDS infested progressives, please note that Bill Clinton was NOT in office at any point in the last decade.

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4 Responses to Take the money and run

  1. Three Wickets says:

    The numbers are staggering. The Treasury and Fed have basically bailed out the financial system with $6 trillion over the past 3 years. About $2.5 trillion of that is just sitting in cash today at banks and corporations, and for the most part the money is not being invested in new workers and jobs. Maybe $500 billion of that cash is sitting in overseas accounts doing nothing because our multinationals don’t want to repatriate the money and pay corporate taxes. Now Goldman and our other multinationals are planning even more operational moves overseas…to places like Singapore, Dubai, Dublin, Montenegro, which double as corporate tax havens.

    Taxpayers, workers, consumers are going to be stuck paying that big bailout tab in various ways for years to come (yes, the Fed portion too). In fact the Fed’s been essentially bailing out the Treasury along with the banks, in a roundabout fashion. It’s the main reason for the debt ceiling mess, and there will be more messes. We bailed out the banks (and their creditors) to avoid a big D depression in 08/09. That was the rationale. We chose not to let the institutions fail on their own weight, then restructure them, which would have been the conservative/libertarian thing to do. Eventually all the GOP candidates will be answering the question: what would you have done differently with the financial crisis in 2009. Think Paul and Bachmann are the two who actually cast a vote in Congress against the bailout. Will be interesting to see how they play it.

  2. votermom says:

    These dudes need to be in jail.

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