Talk About A Con Job

Lloyd Blankfein, chairman of Goldman Sachs, made $73.7 million last year. James "Jamie" Dimon, chairman of J.P. Morgan Chase, had to make do with $57.2 million, reported Forbes magazine.
 
No doubt about it, financial executives have made a bundle – sometimes pocketing multimillion-dollar packages while their companies were taking losses that had been run up on their watch. Among them: Charles Prince, former head of Citigroup, ended up with "accumulated benefits" of $29 million; Stanley O'Neal, who ran Merrill Lynch & Co., got $161 million in accumulated benefits, and Martin Sullivan of AIG received a severance package of $47 million. 

How Does It Work?

These guys don't make cars, or raise crops, or really make anything. What they do is stand in front of the carnival tent and tell the hicks to come see the 'Golden Goose' lay golden eggs. They paint pictures of great enterprises rising to the needs of America.

What no one realizes that when the shows over all that is coming out is what stockholders put in. If twenty people put $1,000,000 in the the pot, and now Goldman Sachs says the pot's worth $10,000,000, they are dreaming. The trick is that Goldman revalues all the stock off the price of the last share.

Are These Industry Giants Or Just Carnival Barkers?

When you buy $10,000 worth of stock, the carnie gets 10%. Like all pyramid schemes, the few that get out early win, but 90% of the people lose. Out of that $10,000 the Zio-Carnies will get $8,000, and you will get $2,000.

Just look at the Washington Mutual scam. Mr Jones invested $10,000, and all he got back was $50 . Just ask yourself, did the other $9,950 just vanish, or is it in someone else's pocket?