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Monday, October 18, 2010


Goldman Sachs will NEVER, NEVER, NEVER, NEVER change until they change their hiring practices.

The top 10% of the company are all clones right out of a science fiction movie - the same values, mindset, approach, dress, lifestyle, charities, trophy wives, vacation homes, horrible eye for art - EVERYTHING. It is scary.

They perpetuate this culture by hiring people that have the psychological profile that fits a well defined mold.

They use the most disciplined, strict, exhaustive hiring techniques imaginable to weed out people who know what a Goldman partner is like but is not truly in the mold. And the process continues after the hire has been made with the fakes quickly discovered and eliminated. It is the greatest team in the history of the world.

Goldman is the last investment bank standing because they have figured out the psychological profile necessary to make vast sums of money and beat their competition. And with brutal efficiency in the last five years there is no serious competition left.

Now that they have won there is only one weakness that they have that they have carefully avoided speaking about or discussing with government agencies, taxing authorities, the press or their clients. It is something that no one dares bring up and that is because it stinks.

They have created spectacular tax avoidance schemes to avoid paying their fair share on their brilliant trading and investing skills. Now that they are firmly at the top it is time for them to pay their proper share of income taxes at the local, state and federal level. The games should stop for them and their clients.

The 400 million fine that they paid is a monthly rounding error on the amount of taxes that they and their clients have figured out how to avoid.

In the end the people of the United States have had to pay for the carnage created by the Goldman victory. In their burning envy of the Goldman air of perpetual, towering, smug confidence, their competition leveraged themselves into oblivion by trying to be like "Goldman" when they clearly were not. The defeat of these losers should be borne by the victors not some farmer or factory worker in the Midwest scraping to get by.

Man up Goldman. After all you are only giving up a medium of exchange defined and backed up by a President and Treasury Secretary who would not have made the first cut if they had applied for a job with you. It is your existence together outsmarting your competition that really matters anyway.

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