By: Jack WaymirecloseAuthor: Jack Waymire Name: Jack Waymire
Email: jack@InvestorWatchdog.com
Site: http://www.investorwatchdog.com
About: Jack entered the financial services industry as an institutional consultant and later as vice president at Warburg, Paribas, Becker in 1976. From 1983 to 2003 he was the President of Lexington Capital Management and related companies. In December, 2003 John Wiley published his book "Who's Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor". In 2004, he founded PaladinRegistry.com, a website that educated investors about financial advisors. A national Registry of pre-screened, five star rated advisors was added to the website later in 2004. In 2009, he founded InvestorWatchdog.com, a website that provides tools and information to investors who use the services of financial planners and financial advisors. Since 2004, Jack has been frequently quoted in the media on topics about financial advisors, Wall Street firms, investment scams, and the financial services industry (BusinessWeek, Forbes, Kiplinger, Washington Post, etc.).See Authors Posts (66) | January 19, 2012 | Illegal Schemes & Scams, Wall Street Business Practices, Wall Street Ethics, Wall Street Executives

According to 24/7 Wall St.’s research, Goldman Sachs has made it onto its 10 Most Hated companies list.

I am not surprised. The greed of GS executives has become legendary and their actions severely damaged investors and the U.S. economy. Exposure started in 2010 when the company was sued for fraud and settled for $550 million – a small percentage of annual profits. Fraud accusations against GS actually accelerated after the settlement and fines became a cost of doing business. GS is facing a number of suits for toxic mortgages it sold to individual and institutional investors.

Being on a Most Hated list must rankle GS executives, but they have made hundreds of millions of dollars in compensation and they know Americans have short memories. Eventually this will be old news and it will be business as usual.

What is truly amazing is that GS defrauded investors and caused major damage to the U.S. economy and not one company executive went to jail. Why not? These executives have purchased Get Out of Jail Free cards from politicians who care more about re-election than protecting Americans from greedy executives.

This cycle will repeat itself over and over again until the executives who made the decisions to rip-off the public begin joining Bernie Madoff in jail.