“Apple has not really needed the services of Wall Street all that much ever since it went public in 1981,” George Kesarios reports for Seeking Alpha. “And even though Steve Jobs married a fixed income professional from Goldman Sachs, he didn’t like the Wall Street types. He shunned Wall Street every chance he got.”
“Tim Cook however is not Steve Jobs,” Kesarios reports. “Tim Cook is more prone to get into bed with Wall Street than Steve Jobs was. And if you are going to get in bed with someone, why not get in bed with the best there is. I think it’s only natural for the number one company in the world to hook up with the number one firm on Wall Street. And on Wall Street, the best firm for many years now has been Goldman Sachs.”
Kesarios reports, “In reality however, and even though Steve Jobs has avoided Wall Street, Apple has a long history with Goldman Sachs…”
Read more in the full article here.
When Steve Jobs introduced Paul Otellini on stage wearing a Bunny suit during WWDC 2005 for the transition to the Intel CPU, he said that “Hell hath frozen over.”
Whereas Steve Jobs only made hell freeze over, now with Apple’s new partnership with Goldman Sachs, Tim Cook is dealing with the Devil himself.
A pack of wolves – Goldman Sachs
In a bad sense, alas.
“hook up with the number one firm on Wall Street. And on Wall Street, the best firm for many years now has been Goldman Sachs”
Certainly number one on Wall Street, but by far not “the best”. GS systematically robbed their clients and even their own shareholders via fraud, for which they were NEVER prosecuted since they own the government, the prosecution, the legislation.
…and the presdency.
…of both parties.
Goldman Sachs is a very bipartisan corporate overlord. 🙁
The worst part is, that means that the people can never have elected officials who will actually punish GS for its crimes. It owns both parties.
correcto mundo.
Are we talking about the same Goldman Sachs who’s reckless financial mismanagement nearly took them out of business in 2008? The same Goldman Sachs that only exists today thanks to the generosity of American tax payers in an unprecedented shotgun marriage of socialism and capitalism?
Whoever is calling Goldman Sachs the #1 firm on Wall Street must be suffering a real bad case of the Stockholm Syndrome.
Goldman Sachs has pumped up almost every bubble we have ever had in this country. Apple should stay far away from this particular octopus.
Going to bed with the banksters is only going to bear ill will for Apple. Going into debt is the banksters game and Apple didn’t need to do it. Now that Apple Corporation has, it is kissy-kissy, nice-nice, because the banskters think they have Apple by the short hairs now.
It could be that Cook is following the old adage, “Keep your friends close and your enemies closer.”
Goldman Sachs advises the President through the Secretary of Treasury and controls the financial system through the Federal Reserve. Goldman Sachs is as close to Wall Street computer action as day trading milliseconds go, probably past what should be legal. Goldman Sachs was the main lobby behind the Glass Steagal Act which let unemployed heroin users qualify for million dollar homes. Goldman Sachs engineered TARP to bailout AIG for billions so as to prevent AIG from defaulting on debt debt for as much owed to Goldman Sachs. Goldman Sachs changed from investment to banking to borrow an unlimited amount of money from the Federal Reserve for unreal returns at no risk to itself. Nothing Goldman Sachs does is illegal because Goldman Sachs writes the laws.
If you believe in the universal law of just compensation, some time, somewhere, the penalty will be enforced.
Goldman Sachs engineered the repeal of the Glass Steagal Act. The law was a result of the 1929 Wall Street stock market crash I think.
OMFG what an ass licker:
if you are going to get in bed with someone, why not get in bed with the best there is. I think it’s only natural for the number one company in the world to hook up with the number one firm on Wall Street
Yeah right. Goldman Sachs, the #1 SCUM BAGS of Wall Street. The bastard biznizz bozoids who concocted the sub-prime loan scandal that directly caused the 2007 global economic depression, AND made money off the venture:
During the 2007 subprime mortgage crisis, Goldman was able to profit from the collapse in subprime mortgage bonds in the summer of 2007 by short-selling subprime mortgage-backed securities.
https://en.wikipedia.org/wiki/Goldman_Sachs
FSCK Goldman Sachs
Derek, this doesn’t seem like the type of post that would be produced by someone who is much more capable of a noble thoughtful well worded missive.
I know what you mean 3I3c7ro. I’m sorry to offend. Going theatrical is very tempting to me when I rant. This guy certainly deserved some major derision but there are better methods.
Right-wingers – please note that your complaints about Goldman will not be solved by castrating government. The solution to this sick greed is not less regulation and less government connection to such affairs; it’s having better regulations and serious enforcement. Unfortunately, the most base motivations drive most of the ultra-rich and ultra-powerful and everyone else will always be screwed to the maximum extent they can get away with.
There is no phenomenon of “market forces” that is neutral, like gravity or the wind. Any society is arranged. It’s a question of HOW it’s arranged. American society is arranged to reward deranged greed to a deranged extent. Removing government oversight would only have the result of amping that up even further.
Seamus, I don’t think you’ll have any honest conservative agree with your recommendations (if not your accusations), provided that we can agree that “better regulations” is not necessarily the same as “MORE regulations.” We conservatives believe in only that regulation that’s necessary to protect from abuse, and otherwise let government get out of the way.
In other words, don’t think that because we sometimes disagree with your methods or your characterizations, that it means we disagree with the goal of having a safe, sensible market.
I meant “disagree.” I just love typos that change the whole meaning of a post. My apologies.
@emmayche
We don’t have easy language for it, but in my own mind I distinguish between conservatives and right-wingers. What I call a conservative is a thinking person who holds particular points of view for rational reasons and who is able to engage in discourse. With an “honest conservative”, I will have overlaps in opinion. In fact, some of my opinions may be more conservative than a given individual.
Who I call right-wingers are people who, by and large, engage in a raving doctrinaire position, who frequently use distortion and outright lies, who are often irrational and seem infested with hatred. One characteristic is that they seem to think that calling someone a name finishes the discussion with their triumph (e.g. Obama is a socialist. I win.) There are a few such right-wingers on this site.
And on the particular point, I agree wholeheartedly that having MORE regulations is not desirable. Having a greatly streamlined body of the RIGHT regulations and serious application of them would be great. (E.g. bring the hammer down on the scum whose games crashed the US economy.)
Goldman Sachs is the devil.
yet another Little Timmy blunder.
It wasn’t a blunder. It was part of Timmy’s interview for his next job, after SoT.
that would be a demotion.
GS is #1. # one among thieves, that is. The guess right half the time on thier self serving “calls’ re the market. the economy and stock recommendations. However, they are always on the other side of your losing trade. Volatility is low or a stock has run too much, make a big downgrade for little or no reason.
Any business with Goldman Sachs leads to bankruptcy!
Ask Greece Italy and AIG.
Say good night to Apple!
Nice with the Oblivion reference there 🙂
But Tim Cook should be more like Steve Jobs and stop bending over backwards for Wall Street. As we have noticed since Tim Cook took over, Apple has gained nothing from trying to please Wall Street instead Wall Street has tasted power and now want more and they are not demanding things instead of taking what great things they are given.
And that should of course be
“and they are now demanding”
I love iOS most of the time.