Tag: Goldman Sachs

QUITTING THE REPUBLICAN PARTY

Brian Gaither: ‘Because I have made myself very publicly known as a Republican, I think it’s appropriate to share with you the letter of resignation I just submitted to the Miami-Dade GOP.’ [Emphasis added. – A.T.]

March 14, 2012

The Republican Party claims to support the principles of limited government, individual liberty, fiscal discipline, a strong national defense, and civic virtue. It is a claim many believe, and for most of my life I was a believer. Since 2008 I have been involved with the Republican Party of Miami-Dade, first as a volunteer then as elected District Committeeman, Chairman of the Voter Registration Committee, and Chairman of the Victory 2012 Committee. During this time I have spent many hours considering the best way to defeat Democrats. I was confident that to do so was in the best interests of Florida and of the country. But now I have to say, ‘oops!’ Even kind-hearted and public-spirited Republicans seek to radically reduce the size and scope of government. In so doing, they advocate the benefits of private institutions, the free market, and personal charity. They say it’s good for society when everyone pursues his own goals free of government control. They promise the poor and disadvantaged will benefit (in the end, somehow). However, the public sphere is a dynamic place where the interests of individuals, institutions, and businesses constantly compete. To limit the role of government is to purposefully surrender control to those able to exploit government’s absence. In such a place, the result of Republican policies can only be the consolidation of power among the powerful and of wealth among the wealthy.

In such a place, the poor and disadvantaged will always lose. As our society grows ever more complex, we must have a government which grows in equal measure. It must be powerful enough to arbitrate competing interests. It must be big enough to assert its place in the public sphere. And it must protect the weak from predations of the strong. I cannot, in good conscience, support a philosophy of limited government or any organization propagating it. In fact, it is my obligation to oppose them.

With this, I am publicly renouncing any and all affiliation with the Republican Party. I am joining the fight against its politics, its messages, and its candidates. With this, I publicly commit my support to the Democratic Party and its candidates. And I specifically endorse the re-election of President Obama. To do anything less is unconscionable. — Brian Gaither, Miami FL

QUITTING GOLDMAN SACHS

From yesterday’s (indispensable) New York Times:

Why I Am Leaving Goldman Sachs
By GREG SMITH
Published: March 14, 2012

TODAY is my last day at Goldman Sachs. After almost 12 years at the firm – first as a summer intern while at Stanford, then in New York for 10 years, and now in London – I believe I have worked here long enough to understand the trajectory of its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it. . . .

TAKES ONE TO KNOW ONE

As I type, this song has had 860 views. Let’s take it viral? Seriously – watch and then, if you agree, send to your list? And ask them to do likewise – especially to kids? If kids come to know that bullying is a telltale sign of being secretly gay, a lot fewer of them may want to do it.

NABI

Guru: ‘They just had a conference call. They have reduced headcount to 14 people – the minimum required to run a public company. They have $96.4 million in cash equivalents, so $2.27/share. They have more than $1/share in NOLs. They have been working with Piper Jaffray on ‘strategic alternatives’ and stated they will announce their plan in the second quarter of 2012. Could include liquidation or a strategic merger.’

So it’s not what we’d hoped – this one didn’t work out. But at last night’s $1.85/share, I’m holding on for what might be a smaller loss. (For someone fortunate enough not to have bought the first time, it might even make an interesting buy here – albeit only with money you can truly afford to lose.)