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Blankfein Joins The Billionaire Bankers' Club

Tyler Durden's picture




 

One thing that has become abundantly clear after seven years of global QE is that the trickle-down "wealth effect" is a myth.

At the macro level, lackluster global demand betrays the failure of central bank policy to engineer a robust recovery. At the micro level, the growing wealth divide is proof of what should have been self evident even to a PhD economist: policies explicitly designed to inflate the assets most likely to be held by the wealthy will likely serve to exacerbate the disparity been the haves and the have nots. 

Of course, post-crisis monetary policy has not only served to restore the fortunes of wealthy individuals - it’s also been tremendously helpful in nursing the world’s largest financial institutions back to health after they were nearly destroyed by their own greed and malfeasance. 

These two happy (if you understand how important it is to have assets) byproducts of post-crisis money printing coalesce into what is perhaps the greatest betrayal of the public trust in modern history when one looks at how things have turned out for the very people whose decisions brought about the collapse of the system and effectively sowed the seeds for the very policies which have since served to make them even richer than they were before the meltdown. In short, Wall Street executives have done quite well since 2009 as was made abundantly clear last month when Bloomberg reported that Jamie Dimon had become a billionaire

Well, just a little over a month later we learn that yet another TBTF CEO has joined the billionaire banker club and honestly, we’re surprised it took this long because after all, when you’re the CEO of the blood-sucking cephalopod that holds the political and financial fate of the world in its tentacles, it seems only right that you would have been a billionaire long before any other banker on the Street. Whatever the case, Lloyd Blankfein is now a billionaire. Bloomberg has more:

Goldman Sachs Group Inc. made hundreds of partners rich when it went public in 1999. Its performance since then has turned Lloyd Blankfein into a billionaire.

 

The chief executive officer of the Wall Street bank for the past nine years, Blankfein has seen his net worth surge to about $1.1 billion as the firm’s shares quadrupled since the initial public offering, according to the Bloomberg Billionaires Index. As the largest individual owner of Goldman Sachs stock, he has a stake in the company worth almost $500 million. Real estate and an investment portfolio seeded by cash bonuses and distributions from the bank’s private-equity funds add more than $600 million.

 

Blankfein, 60, was co-head of fixed-income trading when Goldman Sachs had its IPO, an event that created enormous wealth for executives. Partners in the firm received stock valued at an average of $63.6 million at the time of the sale. Henry Paulson, the bank’s CEO before and after the IPO, had almost $600 million of stock and options when he left to become U.S. Treasury Secretary in 2006, a move that allowed him to sell his stake without paying taxes.

 

Shares in the firm have climbed 298 percent since the IPO, compared with a 6 percent drop in the Standard & Poor’s 500 Financials Index. The stock has doubled in the past three years, reaching its highest level since 2007.

And frankly, that’s pretty much all you need to know. The Bloomberg article has more on Blankfein’s homes, background, and charity work, but the bottom line is that it pays (literally) to have friends (and former colleagues) in high government and regulatory places and if you're still having trouble understanding how it's possible that the same people who Plaxico'd themselves in 2008 and plunged the world into the worst recession since 1930 could possibly be allowed to not only remain out of jail but accumulate obscene fortunes on the back of the humble taxpayer well, "that's why [Lloyd Blankfein] is richer than you."

 

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Fri, 07/17/2015 - 21:55 | 6325946 ACP
ACP's picture

FUCK YOU BLANKENSTEIN YOU PIECE OF SHIT!!!

Fri, 07/17/2015 - 22:09 | 6326016 NoDebt
NoDebt's picture

Look, we're in a depression here.  It's not as easy to scrape together a billion bucks as it was in the boom times, even with all the money printing.  Hell, Jamie "Deep-Throat Cancer" Dimon only got to that level himself a few months back.  It's tough times everywhere, I'm tellin' you.

 

Fri, 07/17/2015 - 22:29 | 6326078 erg
erg's picture

He looks like a slightly sentient Mako shark.

Fri, 07/17/2015 - 23:07 | 6326192 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Looks like his teeth are perfecto... does he have enough to fix that joo snozz yet?

Fri, 07/17/2015 - 23:16 | 6326210 I MISS KUDLOW
I MISS KUDLOW's picture

Nobody cares no one even knows who this is, peasants are too busy on their iPhones or shooting each other

Sat, 07/18/2015 - 00:37 | 6326335 Soul Glow
Soul Glow's picture

You're Miss Kudlow?

Sucks to be you.

:)

Sat, 07/18/2015 - 02:14 | 6326440 EscapingProgress
EscapingProgress's picture

Hey Lloyd, turn all of your paper wealth into cold, hard, shiny, yellow metal and then tell me how much you have. :)

Sat, 07/18/2015 - 06:10 | 6326583 Scooby Dooby Doo
Scooby Dooby Doo's picture

Congratulations are in order. It takes hard work, smarts, and determination to arrive in that club. Mr. Blankfein has those qualities in spades and is quite humble for a man in his position.

Sat, 07/18/2015 - 08:14 | 6326683 bdc63
bdc63's picture

Doing God's work pays well.  Who knew.

Sat, 07/18/2015 - 14:01 | 6327300 The Big Ching-aso
The Big Ching-aso's picture

So he made a billion. Big deal. I know about 50 Zimbabweans that are quadrillionaires.

Sat, 07/18/2015 - 02:07 | 6326431 BigDuke6
BigDuke6's picture

The Jews truly are the chosen people.

We should respect that and bend over.

Fri, 07/17/2015 - 22:22 | 6326067 palmereldritch
palmereldritch's picture

Don't you hate it when bad things happen to good people

Fri, 07/17/2015 - 22:52 | 6326161 Sparkey
Sparkey's picture

I'm glad Lloyd made it, it must have been humiliting for him amd his Wife but now they've made it they have joined, just joined to be sure, I'm sure the hardest part is the first Billion, it will come easier now Lloyd Congratulations!

Sat, 07/18/2015 - 04:26 | 6326541 Badsamm
Badsamm's picture

I forget, does this mean we need a long or a short rope?

Sat, 07/18/2015 - 07:37 | 6326640 SmokinMonkey
SmokinMonkey's picture

Can someone please give me the name of his dentist

Fri, 07/17/2015 - 21:55 | 6325947 Jumbotron
Jumbotron's picture

Hell's fires are stoked with paper money.

Go ahead and print all you like you fucking Bankers and make all can.  You're only fueling your own eternal punishment.

Sat, 07/18/2015 - 00:38 | 6326337 Soul Glow
Soul Glow's picture

Amen.

Fri, 07/17/2015 - 21:57 | 6325950 erg
erg's picture

Relentlessly jamming his blood-funnel into anything that has the most remote whiff of money.

Fri, 07/17/2015 - 21:56 | 6325955 Philo Beddoe
Philo Beddoe's picture

I hate this prick less than Jamie Dimon.  It is nice to see a happy sociopath for a change. 

Fri, 07/17/2015 - 21:58 | 6325971 erg
erg's picture

lol He should carry around an ice cream cone like Buffett.

Fri, 07/17/2015 - 22:34 | 6326115 HungryPorkChop
HungryPorkChop's picture

Sometimes you wonder what happens to those that put greed above all else in this world?  Sure you can cheat, lie and steal but in the end the Piper always gets paid. 

Fri, 07/17/2015 - 22:17 | 6326046 NoDebt
NoDebt's picture

I'm intersted in hearing how you arrived at the judgement about hating Blankfein less than Dimon.  I mean, when you're talking about "how close to the speed of light can you get" levels of loathing are you certain there's a difference between maximum hate and the needle inside the gague just hitting the limiter pin?

 

Fri, 07/17/2015 - 22:25 | 6326082 Philo Beddoe
Philo Beddoe's picture

The velocity of hate for Jamie Dimon can not exceed the speed of light. I read that in a text book. If I travelled in a Jamie Dimon hate-mobile at the speed of a light for a couple of days and then flew back to earth he would be dead. I would simply be two days older. Take that, Dimon. 

The only wrinkle in my plan is the lack of a workable Jamie Dimon hate mobile. I think I just need more nitrous. 

Fri, 07/17/2015 - 22:43 | 6326140 NoDebt
NoDebt's picture

You are obviously out of my league when it comes to relativistic levels of hate.  I concede the point and accept your logic.

Sat, 07/18/2015 - 06:33 | 6326592 Scooby Dooby Doo
Scooby Dooby Doo's picture

"can not exceed the speed of light"

Einstein was wrong about that. Human intelligence is so very limited.

Sat, 07/18/2015 - 00:57 | 6326367 DipshitMiddleCl...
DipshitMiddleClassWhiteKid's picture

if you actually listen to him talk, he is very likeable (other than the gods work statement) which is why the poster said he hates him less than jamie dimon.

 

 

go watch any interview with Lloyd and you'll see what im talking about..he doesnt come off as an arrogant prick.

 

Jamie Dimon is very pompous and lots of people hate him.

Fri, 07/17/2015 - 21:58 | 6325960 ebworthen
ebworthen's picture

If someone wanted to do the real people of this World a generational favor they would hang that fucker after cutting his dick and balls off and shoving them down his throat and put a note on his chest that read:

"Quit fucking us over or you are next; and yes, that includes you gutless politicians, and government mandarins - including the soldiers who have forsaken their oaths in favor of pensions, healthcare, and parades."

Fri, 07/17/2015 - 22:02 | 6325972 Yen Cross
Yen Cross's picture

 I'm gonna buy him a Jacuzzi with the toaster option, for passover.

 * P.S. 100 Shekels to the first person that slaps the smile off that bearded blow-hard...

Sat, 07/18/2015 - 09:45 | 6326783 One of these is...
One of these is not like the others..'s picture

 

How much gold will a shekel buy me, and how do I collect?

 

Fri, 07/17/2015 - 22:00 | 6325977 adr
adr's picture

I'm sorry but I'd rather stare at Moochell's hairy ball sac or Hillary's grand canyon cunt than that Scum's face.

There is no bounds to my hatred of that man. His smirk and attitude just says punch me in the fucking face. If I saw him on the street I would black out and wake up with his bloodied head being carried like a football as I race to spike it on the WallStreet bull's horns.

Oh what a dream.

Fri, 07/17/2015 - 22:00 | 6325981 pot_and_kettle
pot_and_kettle's picture

The world is your dildo, Lloyd

Fri, 07/17/2015 - 22:02 | 6325987 davidalan1
davidalan1's picture

wow, underacheiver....for sure

Fri, 07/17/2015 - 22:06 | 6325999 IndyPat
IndyPat's picture

Fuck you, Lloyd.

You misreable grinning little prick.

Someday the rope finds you.

Fri, 07/17/2015 - 22:26 | 6326088 palmereldritch
palmereldritch's picture

But Lloyd is a patron of the Sciences. He was the original DNA donor for a clone-gone-bad by the name of Verne Troyer.

True story

Fri, 07/17/2015 - 22:07 | 6326003 PoasterToaster
PoasterToaster's picture

How much destruction of the real economic base is hidden by this money printing?

Sat, 07/18/2015 - 00:36 | 6326334 Soul Glow
Soul Glow's picture

All of it.

Fri, 07/17/2015 - 22:07 | 6326005 Seasmoke
Seasmoke's picture

Think about how much money Paulson, Corzine and Blankfein have stolen and unfairly kept these past 15 years !!!!!

Fri, 07/17/2015 - 22:10 | 6326019 Seasmoke
Seasmoke's picture

Should have collapsed and Been bankrupt in 2008. Thank you AIG !!!

Fri, 07/17/2015 - 22:12 | 6326028 buzzsaw99
buzzsaw99's picture

disgusting

Fri, 07/17/2015 - 22:14 | 6326033 Anunnaki
Anunnaki's picture

Obama wants his cut

Fri, 07/17/2015 - 22:16 | 6326040 juicy_bananas
juicy_bananas's picture

We jewed some folks.

Fri, 07/17/2015 - 22:23 | 6326065 Never One Roach
Never One Roach's picture

Hey, juicy, it's "Greed sans Borders."

 

Don't forget Hanky claims to be a Mormon and Dimon some sort of Pisscopalian. Luckily, the noose is religion-blind.

 

These cretins bring religion to a new low. However, the root cause still lies with the politicans, AGs, DOJ, SEC, etc who let them get away with it.

Fri, 07/17/2015 - 22:23 | 6326072 Anunnaki
Anunnaki's picture

Last time I was home i heard my Dad brag about how he jewed the guy down at Sears on his new lawn mower

I had to pay full price.what a gyp

Fri, 07/17/2015 - 22:21 | 6326051 Quus Ant
Quus Ant's picture

mazel tov, lloyd!  hataz gonna hate.....

Sat, 07/18/2015 - 07:23 | 6326626 COSMOS
COSMOS's picture

THis is exactly why his community at large is just as guilty as him.  Encouraging and rewarding criminal behavior by feting these fucks.

Fri, 07/17/2015 - 22:19 | 6326052 Anunnaki
Anunnaki's picture

Lloyd "God's Warrior" Blankfein

That story in the Bible about it's harder for a rich man to enter heaven than getting a camel through the eye of a needle

Doesn't apply bc it is in the New Testament

Sat, 07/18/2015 - 06:25 | 6326062 JailBanksters
JailBanksters's picture

Not Too Big To Fail, but Too Jewish To Fail

 

Fri, 07/17/2015 - 22:23 | 6326069 Wahooo
Wahooo's picture

He needs to be crucified in Central Park with a sign around his neck that reads: "Humble Servant of God"

Fri, 07/17/2015 - 22:24 | 6326079 razorthin
razorthin's picture

I thought it was "King of the Jews".

Fri, 07/17/2015 - 22:25 | 6326080 razorthin
razorthin's picture

...

Fri, 07/17/2015 - 22:23 | 6326073 razorthin
razorthin's picture

To the front of the line, Balnkfein!

Fri, 07/17/2015 - 22:24 | 6326076 Prober
Prober's picture

envy

resentment

envy

resentment

envy

resentment

ad infinitem

Fri, 07/17/2015 - 22:44 | 6326126 buzzsaw99
buzzsaw99's picture

envy criminal maggots? not hardly.

Fri, 07/17/2015 - 23:22 | 6326223 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Not in the slightest. Even if he obtained it legitimately (which he didn't) now is not the time to be wealthy. If you have any wealth, now is the time to hide it and pretend that you are poor like everyone else.

Fri, 07/17/2015 - 22:56 | 6326135 Chuck Knoblauch
Chuck Knoblauch's picture

HIS HIDE IS WORTH 11 DRI-HARVEST TURKEY DINERS AND 5 GALLONS OF WATER.

Fri, 07/17/2015 - 23:00 | 6326181 Bill of Rights
Bill of Rights's picture

Balnkfein photo caption: " the cock goes here "

Fri, 07/17/2015 - 23:09 | 6326190 Schroedingers Cat
Schroedingers Cat's picture

Skull fucking Greece is what put him over the top.

Fri, 07/17/2015 - 23:08 | 6326193 Berspankme
Berspankme's picture

His kids will be rich when somebody offs him. Or is he a faggot like he looks?

Fri, 07/17/2015 - 23:10 | 6326194 jimfcarroll
jimfcarroll's picture

Yeah. One of us now. ... wait ... you guys are all 0.0001%-ers, right?

Sat, 07/18/2015 - 00:05 | 6326291 BendGuyhere
BendGuyhere's picture

YAWN-another grotesque little jew with a big pile of frogskins.

The street was much better run when the wasps were in charge. It was actually something like a market.

Eventually these creeps will burn themselves out and the old school propriety will of necessity return to the equities makets. Just a matter of time....

Sat, 07/18/2015 - 00:34 | 6326332 Soul Glow
Soul Glow's picture

Billionaire or not he still shits like everyone else.

http://static5.businessinsider.com/image/4d42ca12ccd1d54b14100000/lloyd-...

Sat, 07/18/2015 - 00:48 | 6326350 Yen Cross
Yen Cross's picture

 

 A billion of what?

I'd like to see that meatball marooned on an island for 24 hours without access to a satellite.

Sat, 07/18/2015 - 01:30 | 6326390 Kassandra
Kassandra's picture

I wonder how much those teeth cost?

Sat, 07/18/2015 - 01:44 | 6326401 Colonel Klink
Colonel Klink's picture

I can only wish that somebody shoots that fucker in the face!

Sat, 07/18/2015 - 01:46 | 6326402 DutchBoy2015
DutchBoy2015's picture

Doing ''Gawds'' work fleecing the goyim with their USURIOUS ways.

After all Gawd says they are chosen and the rest of HIS children are justs servants .

Sat, 07/18/2015 - 01:49 | 6326411 DutchBoy2015
DutchBoy2015's picture

How rich would be be if it wasn't for JEW invented USURY??

Sat, 07/18/2015 - 01:57 | 6326424 DutchBoy2015
DutchBoy2015's picture

The Kind of son of a bitch that needs to be in a real work project with a gate that states  '' Arbeit macht Frei''.

Sat, 07/18/2015 - 02:01 | 6326426 MedicalQuack
MedicalQuack's picture

Ok we have another former Goldman Sachs banker ready to take over Medicare, name is Andy Slavitt and he also worked for United Heatlhcare and is the guy Cuomo took down in 2010 for short paying doctors with his healthcare algorithms...he's the algo man over there.  Be sure and tell your Senators to vote no on his confirmation.  

http://www.dailykos.com/story/2015/07/13/1401710/-Are-You-Up-For-a-One-Time-Goldman-Sachs-Banker-to-Run-Medicare

 

Sat, 07/18/2015 - 02:09 | 6326433 fowlerja
fowlerja's picture

I suppose if you asked Mr. Blankfein about his new status...he would respond..."I made money the old fashioned way...I earned it"

Sat, 07/18/2015 - 03:04 | 6326442 DutchBoy2015
DutchBoy2015's picture

G.Washington, T. Jefferson and B.Franklin warned about Jews and private central banking.

Bibi and Lloyd and Aipac say ''We will demolish Mt. Rushmore'''.

Sat, 07/18/2015 - 02:41 | 6326458 jack stephan
jack stephan's picture

He may have his billion,  but i still can comb my hair.

1.1 billion? Pfft, little toadie, someone pats your head like a yorkie, how adorable.

 

Sat, 07/18/2015 - 02:42 | 6326459 DutchBoy2015
DutchBoy2015's picture

''The LOVE of money is the root of all EVIL''

 

Sat, 07/18/2015 - 02:45 | 6326465 DutchBoy2015
DutchBoy2015's picture

Anyone who doesn't believe that we are the Chosen People and all you NON Jews are mere cattle is an anti semite - Lloyd Blankfein et al.

Sat, 07/18/2015 - 03:03 | 6326486 DutchBoy2015
DutchBoy2015's picture

History they don't teach you in school

https://www.youtube.com/watch?v=cX8i-QriYIU

Sat, 07/18/2015 - 03:09 | 6326489 DutchBoy2015
DutchBoy2015's picture

Bibi Netanyahu caught on hot mike   ''Christians are useful idiots, but don't tell them that, we need them right now''.

Sat, 07/18/2015 - 03:46 | 6326510 VegasBob
VegasBob's picture

This thiefkike (a word my Jewish grandmother taught me 60 years ago) Blankfein should be swinging from the end of a rope.

Sat, 07/18/2015 - 04:19 | 6326539 Atomizer
Atomizer's picture

Is that so? Death by a billion papercuts club. We have are popcorn ready. Good luck, I hear slow bleeding is a painful death. 

Sat, 07/18/2015 - 04:23 | 6326540 Panic Mode
Panic Mode's picture

He hides his wealth, stupid.

Sat, 07/18/2015 - 04:35 | 6326547 asfffasfff
asfffasfff's picture

as always jew

Sat, 07/18/2015 - 04:48 | 6326557 DutchBoy2015
DutchBoy2015's picture

Kidap this motherfucker and fly him to Greece and feed him to the pigs.   Put it on pay per view.

Sat, 07/18/2015 - 05:02 | 6326560 DutchBoy2015
DutchBoy2015's picture

Give him the same treatment Joe Pesci got in the last 30 minutes of the film''Casino''

Sat, 07/18/2015 - 07:45 | 6326648 Milton Waddams
Milton Waddams's picture

My boy Lloyd takes asset gathering to the next level, but that, of course, begs the question: where are all the client's yachts?

Sat, 07/18/2015 - 08:49 | 6326719 Brokenarrow
Brokenarrow's picture

i see many defending lloyd here. they defend him the way blacks defend obama. they dont care he fucks them over. they defend him because he's black. jews defend ews because they see them as "brothers" whant they dont understand is that nyc jews/wall st are to judiasm what terrorism is to islam. what they also dont know is whn hitler came for the jews he didnt snare the bankers and brokers that destroyed germanys economy. he got the poor, innocent jews that had nothing to do with the reasons germans hated jews. if you want to find out why there is so much any semitism you need not look further tham right here: little lloyd is the poster boy.

 

there is a special place in hell for lloyd and his whole fucking family. i wish them all a speedy trip/

Sat, 07/18/2015 - 09:02 | 6326734 Raul44
Raul44's picture

Michael Jackson: 

They Don't Care About Us

"...Jew me, sue me, everybody do me/ Kick me, kike me, don't you black or white me..."

https://www.youtube.com/watch?v=QNJL6nfu__Q

Sat, 07/18/2015 - 09:58 | 6326797 e_goldstein
e_goldstein's picture

muppet fucker

Sat, 07/18/2015 - 10:20 | 6326836 Ned Zeppelin
Ned Zeppelin's picture

I will follow your casket on a pale afternoon.

Sat, 07/18/2015 - 10:31 | 6326859 shouldvekilledthem
shouldvekilledthem's picture

Open file evilbanksterstoeliminate.docx, ctrl+f "Lloyd Blankfein"..."1 found".

It's all good everyone, he's already on the list.

Sat, 07/18/2015 - 10:43 | 6326888 Shibumi2
Shibumi2's picture

Isnt it wonderful that some men give so.selflessly of their time and efforts to build a financial system that benefits all men...big and small, kings and serfs alike.

 

Too bad lloyd isnt one of those fine men

Sat, 07/18/2015 - 10:45 | 6326892 Shibumi2
Shibumi2's picture

We blankfeined some folks...

Sat, 07/18/2015 - 12:48 | 6327131 MSorciere
MSorciere's picture

Doing God's work is lucrative.

 

Don't let anyone tell you otherwise.

Sat, 07/18/2015 - 14:02 | 6327302 stock market loser
stock market loser's picture

Hope I live to see the day Lloyd Blankfiend swing from a lampost. 

Sat, 07/18/2015 - 14:44 | 6327399 DutchBoy2015
DutchBoy2015's picture
Poll: Israelis Back Attack Against Iran, 47%-35%, in Wake of Bad Deal Tags: 

A new poll published by the Israeli newspaper Maariv and cited by the Times of Israel reports that a plurality of Israelis support a military strike against Iran in the wake of the lopsided agreement negotiated by President Barack Obama’s team with Iran in Vienna this week.

The part left unsaid; that Israelis expect it will be American kids to do the fighting and dying!

Read more: WHAT REALLY HAPPENED | The History The US Government HOPES You Never Learn! http://whatreallyhappened.com/#ixzz3gGn2UEUF

Sat, 07/18/2015 - 19:28 | 6328053 Prober
Prober's picture

i HOPE THEY ATTACK YOU TOO, ISLAMIC CULT WORSHIPING VERMIN SCUM

Sat, 07/18/2015 - 14:54 | 6327422 Lostinfortwalton
Lostinfortwalton's picture

Is there no one with honor and integrity in the finance world?

Sat, 07/18/2015 - 19:43 | 6328081 MFL8240
MFL8240's picture

Goldman Sachs was bailed out by the Federal Reserve with taxpayer’s obligations.  If not, Blankfien would be eating shit and selling papers on the corner!  More than 1/3 of these taxpayers are out of work and Blankfine is a billionaire on Federal Reserve free money that has driven stocks to unsustainable levels?  How about the 93,000,000 Americans out of work?  What a fucking disgrace to hold this man up as an example for the youth of this country!  As time goes on, I understand Nazi Germany more and more and while it may have been tragic some of it was completely understandable. So the plan worked which was started by Paulson the liar and carried out by the Muslim in Washington.  This is just disgraceful!

Sat, 07/18/2015 - 22:52 | 6328548 gregga777
gregga777's picture

He belongs in prison. I'll be happy to see him dead.

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