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Profit "not satanic" says Barclays, Goldman Sachs


“The injunction of Jesus to love others as ourselves is an endorsement of self-interest,” Goldman’s Griffiths said Oct. 20

It is easy to make a profit when you use money that was given to you by the government in the form of a “bail out” through AIG. It is obvious this is a complex web of deceit, fraud and deceit and the culprit will never be charged for their crimes. Only taxpayers have to pay the price.

If you think we’re beyond feudalism, think again. What happens today was played in the Roman empire and all empires or monarchy since. The illusion of freedom was enough for them to keep the same alleged crimes again and again.

“Goldman Sachs are scum– that’s the bottom line. They have basically co-opted the government; they’ve co-opted the Treasury Department; the Federal Reserve functionality; they’ve co-opted the Obama administration. Barack Obama dances to Goldman Sachs tune. And they are really crooked and abominable in what they’ve done. Just remember, Hank Paulson took Congress hostage– took them in the backroom and said ‘give us $700 Billion or we’re going to crash this market. He’s an arsonist; he’s an outlaw– and yet he’s praised.”

Max Keiser didn’t stop there. He continues, naming only SOME of the names from Goldman Sachs now dominating the political-economic sphere in government. Keiser continued:

“If you go down the list, they’re all Goldman Sachs scum: whether it’s Hank Paulson, Geithner has very close ties to Goldman Sachs, and all these banking bonuses are paid out to their cronies, who are Goldman Sachs scum. And America for some reason has allowed this coup d’etat to take place– this silent coup d’etat where Goldman Sachs and their friends now control the U.S. Government and manipulate prices…”

Profit `Not Satanic,’ Barclays Says, After Goldman Invokes Jesus
By Simon Clark and Caroline Binham

Nov. 4 (Bloomberg) — Barclays Plc Chief Executive Officer John Varley stood at the wooden lectern in St. Martin-in-the- Fields on London’s Trafalgar Square last night and told the packed pews of the church that “profit is not satanic.”

The 53-year-old head of Britain’s second-biggest bank said banks are the “backbone” of the economy. Rewarding high- performing bankers with more pay doesn’t conflict with Christian values, he said. Varley was paid 1.08 million pounds ($1.77 million) and no bonus in 2008.

“Talent is highly mobile,” Varley, a Catholic, said. “If we fail to pay or are constrained from paying competitive rates then that talent will move to another employer.”

“Is Christianity and banking compatible? Yes,” he said in an interview after the speech in the 283-year-old church. “And is Christianity and fair reward compatible? Yes.”

Bonuses to Rise

City bonuses may rise by 50 percent to 6 billion pounds this year, according to the Centre for Economics & Business Research Ltd., even after the U.K. economy contracted for six consecutive quarters, driving unemployment to a 14-year high of 7.9 percent. The gap between rich and poor in the U.K. reached its widest in five decades last year, according to the Institute for Fiscal Studies, a non-partisan research group.

‘Leper Colony’

Politicians from the ruling Labour party and the opposition Conservatives and Liberal Democrats are preparing for a general election that must be called by June. All three parties have criticized bankers, who have been cast as “pariahs” who work in a “leper colony,” London Mayor Boris Johnson has said.

“People are very, very angry at the gross iniquity of rewards in society,” Liberal Democrat lawmaker Vince Cable said in the St. Paul’s debate with Griffiths, 67.

‘Moral Issue’

Bankers became too obsessed with short-term gains in a financial crisis that is a “profoundly moral issue,” Lazard’s Costa said in the church of St. Katherine Cree on Oct. 15.

“These are long-term commitments,” Costa, 60, said of banking careers in a sermon at the church, one of a few to escape the great fire of London in 1666. “They are not one- night financial stands,” he said. “Impatience is no recipe for a healthy economy or society.”

Banking’s core business of moving money around to fund people, companies and countries lifted millions out of poverty, Varley said last night.

“There’s no conflict between doing business in an ethical and responsible way and making money,” Varley said. “We make our biggest contribution to society by being good at what we do.”

You can read the rest of this article at Bloomberg News

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