Goldman Sachs and the Call Girl Principle
There is a philosophy in negotiation strategy known as the Call Girl Principle and it basically posits that the value of a given service is greatly diminished once that service has been rendered. It is named the Call Girl Principle in honor of those women of commercial virtue who always demand the money up front, knowing that it is much harder to collect ex post facto in flagrante delicto.
Lloyd Blankfein is obviously familiar with the principle, because Goldman Sachs announced a moratorium on political campaign contributions in national elections about a month ago. Under the guise of sensitivity to the implication of influence peddling, the investment bank is in fact saying, "there's nothing more you can do for me. Now clean yourself up and get lost."
After desperately clutching the TARP lifeline thrown to them by former CEO Hank Paulson, having the discount window thrown open to them to gamble zero-interest publicly-insured funds, and their legion of smarmy lobbyists successfully gutting any real regulatory policy change, the bank is now finished with their various "elected" employees and is effectively telling them, "Don't let the door hit you where the Good Lord split you."
Choosing to forget the recent history of government handouts, Blankfein and JP Morgan Chase CEO Jamie Dimon have adopted a "what have you done for me lately?" attitude toward the legislative branch:
JPMorgan chief Jamie Dimon and Lloyd Blankfien at Goldman Sachs are livid that politicians, who had accepted large donations from Wall Street in the past, both engaged in banker bashing over the past year to score political points with voters who hold Wall Street in low standing since the 2008 financial meltdown, and failed to fight provisions in the financial reform legislation that will squeeze Wall Street profits.Wall Street CEOs likeHigh on their enemies list are New York senators Chuck Schumer and Kirsten Gillibrand, both of whom have received huge piles of campaign cash from the Street over the years. FOX Business was first to report that Dimon's anger recently boiled over into a screaming match with Gillibrand for what Dimon believed was her failure to adequately represent the interests of Wall Street and her constituents amid the debate over financial reform.
Fear not, monkeys, I predict we'll have a
-type happy ending soon. The banks can't stay mad at their high-paid political talent. But it's pretty funny that they're making the political whores sweat a little. Just imagine Chuck Schumer on wobbly high heels, with smeared make-up and torn nylons. Try getting that image out of your head.
Does anyone really believe that Wall Street doesn't already own the government?
There goes the morning wood!
Nope.
-N.
Yeah there have been stories about how the Dems have only been able raise around half of what they used to from big donors in the NY area.
That's the beauty of not giving, by simply refusing to make any donations, they've basically screwed over whoever is in office. Those people are going to need tons of money to run ad campaigns that will convince the public it's the banker's/someone else's fault.
I think this will probably hurt the Dems more than the GOP.
NEVER TRUST THOSE POLITICIANS.....supporting wall street would automatically put them in an unfavorable position for any further career progress...
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Let me just put it to you this way... if i give you a million dollars for a campaign contribution, what does the party who is receiving that money think?
O what a nice man thank you for your money....
NO All it means is that down the line when I need a favour from you bam I call you up and say " o remember that mill I gave you while you were running for President/senator/mayor etc.. I need a favour in that range. The more you give the more pull you have with your political contacts. Don't be naive, politics/finance/ economics are so intertwined that its a art form of its own.
nice post. Thank you.!!
Quo sed hic nisi excepturi qui facere et enim. Et reiciendis vel illum. Praesentium corporis reprehenderit at totam dignissimos.
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