|Goldman Sachs Evades Taxes, Takes Tarp Funds|
After being granted TARP bailout funds from good friend and former boss Hank Paulson, Secretary of the Treasury, it turns out Goldman Sachs is paying a whopping paying 1% on $2.3BB in profits for 2009, down from a more respectable 39% in 2008.
Although earnings were down and losses up in the end of 2008, Goldman sources reported that the astonishing tax windfall was more due to “changes in our geographic earnings mix.”
When I heard “changes in our geographic earnings mix,” I immediately thought of a document that a friend had sent me a while back, with a rather long list of off-shore hedge funds and other tax-evading rackets located in the Cayman Islands, Bermuda, Mauritius, and the British Virgin Islands - all infamous for their anti-American tax havens and utilized by US corporations to evade their legal dues - all of which are owned in one way or another by Goldman Sachs.
It kills me to think Goldman probably spends millions of dollars in order to avoid billions of dollars in taxes, and then turns around and asks the American people for a handout.
Oh, and then here come the layoffs…
Hopefully the Democratic led Congress will get to the bottom of some of the illicit relationships between regulators like Paulson and their Wall Street connections, unless they are too scared they will have to accept responsibility for some of the Fannie and Freddie mess.
How can we continue to subsidize tax evasion by our largest corporations while the nation is in an economic tailspin, and people are being thrown out on the streets.
It’s like asking the American Taxpayer to dig their own grave. It’s criminal!
Scadbury Funding Limited, Cayman Islands
Scadbury II Assets Limited, Cayman Islands
GS Killingholme Cayman Investments Ltd., Cayman Islands
GS Killingholme Cayman Investments II Ltd, Cayman Islands
Forres Investments Limited, Cayman Islands
GS Funding Management Limited (1), Cayman Islands
GS Capital Funding (Cayman) Limited, Cayman Islands
Goldman Sachs Investments (Mauritius) I Limited, Mauritius
Goldman Sachs LLC, Mauritius
Tiger Strategic Investments LTD, Mauritius
MLT Investments LTD., Mauritius
JLQ LLC Cayman Islands,
Goldman Sachs (Japan) Ltd., British Virgin Islands
GSEM Bermuda Holdings, L.P. Bermuda
GS Equity Markets, L.P. Bermuda
Goldman Sachs (Cayman) Holding Company, Cayman Islands
Linden Wood, LTD., Cayman Islands
Goldman Sachs Credit Partners L.P,. Bermuda
Goldman Sachs Specialty Lending CLO-I, LTD., Cayman Islands
Amagansett Funding Limited, Cayman Islands
Amagansett II Assets Limited, Cayman Islands
GS European Funding I LTD,. Cayman Islands
GS Funding Europe II Ltd., Cayman Islands