Goldman Sachs Has a Heart: Well Isn't That Special?

by Yvonne Michelle

Michael Corkery recently reported in the Wall Street Journal article, "Oakland Angles for An Exit," that Goldman Sachs is edging toward generosity.  According to Corkery:

People involved in the negotiations say that the bank is willing to give - a little. Goldman has offered to lower the city's termination costs by more than $100,000 and spread out the payments over several years, the people said.  "The bank is trying to be a good corporate citizen," one of these people said.

While the identities of these people are indistinct, one can't help but to be amused by the pitiful olive branch Goldman Sachs reportedly extended to the City of Oakland.  They'll discount a whopping $100,000 from the millions of dollars that we shouldn't be paying for a bond that no longer exists?  Really?  They're graciously offering to refinance the payments so that the City of Oakland is tied to them for an even longer period of time beyond 2021?  Aww.  As the Church Lady would say....

Dana Carvey of Saturday Night Live

Where have you been, Mr. President?

By Luz Calvo

Photo by Kevin Tivon Gregory

Welcome to Oakland, Mr. President. Our people are suffering. We have a huge foreclosure crisis. Please take a tour of deep East Oakland and see our problems first hand. Our schools are being closed. Our children are hungry. Our youth have no future. Most of us are underwater on our mortgage, if we have not already lost our homes. 

Meanwhile, on July 31 our city will pay 2 million to Goldman Sachs on an interest rate swap that is unfair and unjust. 

Where have you been, Mr. President, in the midst of all of our suffering and despair? Side with us, not Goldman Sachs.