

Goldman, Buffett Establish $500 Million Small-Business Program  - rjett
http://www.bloomberg.com/apps/news?pid=20601087&sid=aQWV0pN.Y1LQ&pos=1

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hop
_The program will contribute $200 million to local community colleges,
universities and other institutions to provide small- business owners with
practical business education. Goldman Sachs will invest $300 million through a
combination of lending and philanthropic support to community development
financial institutions._

I wonder how this will affect businesses? As a business owner, I could put to
work a check much better than a subsidized community college class. Could
$300M even put a dent in nationwide SB lending?

I am sure GS is far better than the gov't at allocating stimulus money, but
will this really do anything - or is it just a PR move to shake off its $10B
TARP funds, 12.9B from a should-have-been-bankrupt AIG, and the access to the
FED discount window when it was allowed to turn into a bank holding company
and get money at a ridiculous 0.50% interest rate.

~~~
Alnoor
This is quite interesting. If Goldman can borrow at 00.50%, what will it lend
to small businesses at?

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dsplittgerber
It's marketing, that's all. If Buffett is envolved, there's nothing
"charitable" about it. He is in it for the profits, he doesn't do it any other
way (except _after_ having earned profits, giving it away eventually). It's
Goldman's chump change to advance their public image and to distract from
their bonus payments and provide policy makers with an excuse as to why
Goldman doesn't deserve that much scrutiny when it comes to their CDO's noone
understands etc.

Edit: See what Goldman does with their "charitable foundation":
[http://blogs.reuters.com/felix-salmon/2009/11/12/the-
goldman...](http://blogs.reuters.com/felix-salmon/2009/11/12/the-goldman-
sachs-foundations-torrid-2008/)

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CapitalistCartr
Trying to wash the stink off, by teaming up with the most honest man (not) on
Wall Street, and throwing money at the "problem."

