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Goldman Sachs Magic Trick

Dylan Ratigan: From MSNBC's Morning Meeting Oct. 16, 2009. Dylan Ratigan explains how Goldman Sachs managed to make $3 billion in three months investing our tax dollars sent to keep them afloat with no strings attached

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15 Comments

Current View: 15 / Show all Comments

TriMeFoo : LVL 40: VP 4.8: said:

TriMeFoo

Hidden (Show Comment) -32 votes

35 days 4 hours ago...

Looks like WHITE magic to me. That`s some white people shit. Always trying to subconsciously blame some niggas. And the descent begins.

Red Heaven : LVL 39: VP 4.7: said:

Red Heaven

29 votes NegativePositive

35 days 3 hours ago...

^
Uh, black magic is just evil magic. You know, the sort of idea "white people" were talking about before many even knew there was an Africa.

Don`t be stupid. Putting race in something like this clouds the issue. The problem here is something that all humans are familiar with, regardless of gender, ethnicity, and even specie.

It is called GREED.

Keep your eye on the real enemy.

NickAngel : LVL 36: VP 4.4: said:2007 Winner

NickAngel

Hidden (Show Comment) -17 votes

35 days 3 hours ago...

This is news?? A guy in fuckng magicians costume?? This is part of what`s wrong with our situation.

BeagleBoy360 : LVL 36: VP 4.4: said:

BeagleBoy360

15 votes NegativePositive

34 days 5 hours ago...

3 billion in 3 months....well that`s like a billion a month almost.

Ted Crilly : LVL 36: VP 4.4: said:

Ted Crilly

3 votes NegativePositive

33 days 22 hours ago...

NickAngel, that`s nothing, you should see Jeremy Vine on election night.

tokentiki : LVL 48: VP 5: said:

tokentiki

-5 votes NegativePositive

33 days 1 hour ago...

okay so we gave them 70 billion and they only got 3 out of it? where is the rest of the 67 billion?

IonAphis : LVL 40: VP 4.8: said:

IonAphis

16 votes NegativePositive

32 days 23 hours ago...

That`s used to pay for all those properties and payment of dues. The 3 billion they state is their gain, or profit.
If you still can`t see this, take this example:
Suppose you get $2000 a month as your salary. You have to pay gas, electricity, phone, water, rent insurance and supermarket costs. Imagine that amounts to $1900 dollars. Your profit for that month is $100. If you manage to reduce your living costs to $1700, or manage to get a raise to $2300, but still keep the original costs, your profit will be of $400 dollars.
The slight difference companies and people have, is companies not only have to pay their costs (machinery, personnel, taxes, primary materiales purchases - in the case of a factory - and other costs) you also have the return of the capital investment and amortizations for the things purchased. Return of capital investment is simple: building a company takes money, money which you borrow. Most of the time, interest is incremental, which means the more you wait to pay back the more percentage they charge you, so it`s good practice to pay a little bit per month and not wait till you`ve amassed all the money to return it in one pay. Also, the investors will want their share of the winnings, so you have to pay their respective parts.
Amortizations is pretty much the same, but with machinery, transport vehicles, factories and properties: if you`re the company owner and you shed your own money to buy these things for the company, or get another loan to pay for these things, you have to pay them back, or regain your lost money towards these things. So you go to the government and inform them of a plan to amortize your company properties, say 5 years. If you shed from your pocket 5 million dollars on all the company property, each year your ENTITLED to extract from the company account $1 million to cover your costs, or in the case of loans, to pay them back. It`s important to know this is NOT profit. Why is all this important? Because companies that are young do not pay profit tax if their profit is negative. And it CAN and they actually TRY to leave the company profit negative in order to evade these taxes, even though everyone is getting payed, you`re getting your money back and your investors are also making loads of cash.
Obviously

IonAphis : LVL 40: VP 4.8: said:

IonAphis

6 votes NegativePositive

32 days 23 hours ago...

Obviously you see the importance of the government approving a plan for amortizations, since you could (if uncontrolled) stretch this to years and years.
The real cherry on the cake comes because companies like Goldman have long passed their periods of amortization, and that just means they can`t make incredible amounts of cash without the government taking some 35% of it away (varies from country to country), which means they use this "stolen" money to further "negativize" their account and get negative profits. That way, they can now present plans of amortization for the next 10 years or so, the government will approve, they will make more money and we will buy all this stuff they will sell and they will get richer, because since they are a bank, when you`ll want to buy from them some property, you will have to get a loan, and where do you go to get a loan? That`s right, a BANK!
That`s why companies are always shutting down or merging or being bought, it`s because they avoid profit taxes. People on the other hand get the short straw, because if you buy ANYTHING, the government will tax you because apparently you have more money....
Ridiculous....

Tyvalius : LVL 31: VP 4: said:

Tyvalius

-2 votes NegativePositive

32 days 21 hours ago...

Those toxic assets and debts that Citi-Bank and G&S bought have not recovered and the value isnt there if we chose to not buy them, It is all hypothetical till we start investing in them again. This rebound is posting a false positive in the economy and when this bubble bursts when truly ever man woman and child is broke and the banks control everything then and only then will this country be able to rebuild correctly. Wall Street will fail and Main street will go to war with all those guns you Liberals want us to give up our rights to.

Nose Nuggets : LVL 16: VP 2.5: said:

Nose Nuggets

0 votes NegativePositive

32 days 21 hours ago...

^
The reason those assets have not recovered is a direct function of their toxicity. Houses in America are WAY inflated right now. even after the crash. but things like tarp artificially prop up those assets. This is not to the benefit of the citizens, its to the benefit of the banks. We need to let the housing market crash so that assets can be priced at their actual value. will it sting? oh hell yes. but its far better then continuing to inflate our currency and drive away our major investors (china, japan, the soudi`s etc).

phatryde : LVL 34: VP 4.2: said:

phatryde

5 votes NegativePositive

32 days 20 hours ago...

This video just made me angry. Fuck FUCKKKKKKKKKKKKKKKKKK idiot Governments, FUCK YOU BUSH.

Nav : LVL 28: VP 3.7: said:

Nav

0 votes NegativePositive

32 days 17 hours ago...

im worried that ratigan is going to get kicked off the air soon...

Vhorthex : LVL 12: VP 2.1: said:

Vhorthex

1 votes NegativePositive

32 days 16 hours ago...

What puzzles me, is if that money was essential to their survival, why were they able to invest with it?

Guess it wasn`t needed after all.

Weird.

pr0mythius : LVL 24: VP 3.3: said:

pr0mythius

4 votes NegativePositive

32 days 13 hours ago...

ummm this is nothing new .. many companies like goldman for centuries have done this sorta thing. look into how the rothschild family came into such wealth. seriously .. google it .. its an "interesting" story.

saltesc : LVL 36: VP 4.4: said:

saltesc

5 votes NegativePositive

32 days 8 hours ago...

Man... this guy talks like I did to my girlfriend last night, explaining the higgs boson thing when it came on the news. 5 minutes later I had simplified it so much in so many different examples but I know she only understood half of what I was saying and the other half was wondering what it all had to do with going back in time to kill your grandfather.

This guy could just say, "Company in trouble. Gets money to help it. Company invests money during the low. Company starts to sell investments as they rise. Company makes a lot of money." But it`s never enough... someone always has to say, "What? How? Where did they get it? I don`t understand... 3 billion? How?"

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