Apparently Mayor Michael Bloomberg thinks one of the world’s most powerful corporations needs to be protected from a single former mid-level employee saying mean things about it. From Bloomberg Businessweek:
New York City Mayor Michael Bloomberg visited Goldman Sachs Group Inc. (GS)’s headquarters in Manhattan in a show of support after a departing employee publicly criticized the firm’s culture yesterday.
“The mayor stopped by to make clear that the company is a vital part of the city’s economy, and the kind of unfair attacks that we’re seeing can eventually hurt all New Yorkers,” said Stu Loeser, a spokesman for the mayor.
The most amazing thing to me about Greg Smith’s resignation letter from Goldman Sachs is not his actual criticisms, most of them are relatively old news for a company known as the ‘vampire squid,’ but the intensity of the often bizarre wagon-circling by the financial elites in Goldman Sach’s defense. The quantity of people choosing to publicly support Goldman at this moment with some truly pathetic defenses is significant. There seems to be some actual fear that this one op-ed could do some real damage to Wall Street.
After seeing this story, I do find it amazing that for several years among political pundits there was a relatively widespread delusion that Micheal Bloomberg could have ever been a strong successful independent candidate for president. This incident is a reminder that compared to the elitism of billionaire Bloomberg, Mitt Romney looks like a cross between William Jennings Bryan and Joe Sixpack.




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Don’t think there was much delusion around here.
I wonder if anyone has polled nyc to see if a tone deaf, corporate, oligarch, 1/100 of one percent, could win mayoral re-election today.
What’s ironic is that they condemn the editorial without daring to directly address the charge it makes: Namely, that Goldman Sachs rewards those employees the most that rip off their clients the most. Instead, they essentially call him a widdle cwybabee who couldn’t take the heat.
What does that say about what they value?
You mean the guy who spent over $180 a vote and still almost lost in 2009?
The truth hurts. Even a hint of the truth hurts. Therefore, at first whiff of truth, the guilty must come together and mount an immediate counter-offensive. It’s that simple, it’s that obvious, They know they are dead meat if the truth gets around. Cuz their lifestyles cannot survive in a rational world, and they know it, deep down.
Smith timed his op-ed just as the Volker induced regulations are being decided. Just at this time it would be important for all banks and all those feeding off them, “the financial elite” to “circle the wagons”.
Protecting GS is akin to protecting the institution of slavery. No wonder why the “monied interests” come to GS defense. Congress and the SJC protected the exploitation of humans beings predicated on skin color. A rancid business model. This is no different, except it effects the entire world. Protect them slave-owners? Why? So they can rape America again! Rancid!
Money! Before even, Life or Liberty!