Face it, there is a lot of anger out there regarding what Goldman Sachs gets away with as they seem to own our Federal Government. You can peacefully get back at Goldman by boycotting their partner Facebook at it’s revenue source, the advertising market.
Now, I don’t advocate boycotting your personal Facebook page, but certainly after Goldman Sachs, the giant squid of world finance took a private placement position in the company, I just hope people consider boycotting Facebook ads.
That means don’t click on the ads and don’t advertise on Facebook.
It is one thing for a company to take money in public stocks. You can’t stop companies from buying public stocks. But Facebook has underestimated the country’s disdain for Goldman Sachs. And I hope it hurts Zuckerberg’s bottom line by at least as much as Goldman has invested. Zuckerberg didn’t have to do business with the giant squid. But he did anyway. So that is his right and it is our right to boycott Facebook ads.
In the dot com bubble, Goldman Sachs brought IPO’s to market that were way overpriced, way too speculative for sound underwriting, and yet Goldman made a fortune while you got killed in your 401k. One of the Goldman IPO’s was Webvan, an ill fated piece of junk stock.
Goldman Sachs invests and churns oil contracts as it does not have to take possession of oil like companies do that hedge against price changes. So the investment banks, and Goldman Sachs can influence food and oil prices and make you pay more. Zuckerberg should have thought of this. Goldman Sachs sold crap AAA housing bonds to investors the world over, including your school district, and then shorted the bonds massively, with possible inside information that the bonds were based on bad loans.
So with Goldman being the poster child of bad behaviour, Facebook did not need to slap it’s users in the face with this unholy relationship to the squid. I am not saying that the Facebook IPO will be a scam, or not worth a lot of money. I don’t know about that yet, but I do know that Goldman has brought companies that had no sound way to earn money to the IPO market during the dot com bubble with disastrous results.
Don’t ever forget this private involvement of Goldman Sachs in the life of what is likely your favourite social network. It was a mistake and never should have been allowed to occur. Unfortunately, one way to hurt Goldman Sachs and boycott their involvement in the American system is to boycott Facebook. I am sorry it has come to that.