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Former Maoist, José Manuel Barroso, joins Goldman Sachs on €400,000 a month

barrosoGoldman Sachs has hired the former Prime Minister of Portugal José Manuel Barroso to be an advisor and non-executive chairman of its international business.

The former Maoist will help Goldman Sachs as it deals with the fallout from Britain's exit from the European Union and looks at more ways to justify its sobriquet ‘the great vampire squid.’

Barroso latterly of course was the president of the European Commission for two terms between 2004 and 2014. He was prime minister of Portugal from 2002 to 2004.

Reuters reports that Goldman Sachs and other U.S. investment banks are seen as particularly vulnerable to Brexit “since they rely on the EU's ‘passporting’ regime that allows them to offer services across the bloc while basing most of their staff and operations in the UK.”

Barroso's first task is to analyse and select a place to move to outside the UK where Goldman's clients can move to when the 'passporting' ends as a result of Brexit.

All have warned that if their British subsidiaries lose these "passports" decisions already have been made in principle to move some employees and business units to alternative european locations.

Barroso will chair Goldman Sachs International which is based in London with around 5,000 staff all of which may be redeployed of paid off. He will help Goldman Sachs as it advises clients on dealing with a "challenging and uncertain economic and market environment."

A Maoist in his youth, Barroso's conversion to capitalism finally can be confirmed as complete.

Barroso said of the appointment, "Of course I know the EU well and the UK very well. If my advice can be useful in these circumstances, I am ready to contribute."

Goldman Sachs too is keen to contribute - at an estimated €5 million a year to secure Barroso's services. He will need the income as the position means moving to London.

Comments  

0 #8 Chip 2016-07-12 09:43
Quoting JJ in Gibraltar:
Quoting Chip:


And they wonder why the British people voted against the fatcat establishment.

Er ... the British people didn't.

The Scots voted to stay in the EU. Northern Ireland is not part of Great Britain, but also voted "in". The English and Welsh voted by a narrow margin to leave the EU.

So precisely who was voting "against the fatcat establshment? Do you mean Scotland and NI who voted against the likes of Buffoon Boris, Farage, et al?


Obviously no one has told you that 52% is a majority.
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0 #7 Charly 2016-07-11 14:59
How can Portugese people be so ignorant and even be so silly... Portugese politicians ONLY take care of themselves and their offspring. Common people are not important and are rather borthering the politicians and disturbing the establishment. That's definitely the result of the Salazar regime but also from the socialist influence after the nelcke revolution. As even today socialism and comunism are so intimitely woven together people may not expect any better kind of life or prosperity whitin the next decades. All these poor guys have to undergo the supplices of their so corrupt leaders. It's sad and soaring to have to experience all that day after day. Poor Portugal. It's really a shame !
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-1 #6 Powell 2016-07-11 12:27
Portugal, socialist police state? You bet!

Barroso a former maoist??? He is and still is a commie
Marxist enemy of all decent himan beings!

Watch movie, the killing fields!

Socialism always leads to the death of citizens.

Read on,

sounds famiiiar huh??

http://gatesofvienna.net/2016/07/kiss-the-nice-fist/#more-40269
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-2 #5 JJ in Gibraltar 2016-07-10 14:46
Quoting Chip:


And they wonder why the British people voted against the fatcat establishment.

Er ... the British people didn't.

The Scots voted to stay in the EU. Northern Ireland is not part of Great Britain, but also voted "in". The English and Welsh voted by a narrow margin to leave the EU.

So precisely who was voting "against the fatcat establshment? Do you mean Scotland and NI who voted against the likes of Buffoon Boris, Farage, et al?
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+2 #4 Hi Ronnie 2016-07-09 17:38
Quoting Peter Booker:
This "salary" dwarfs his "pension" from the EU. If I remember rightly at €60 000 per month, gives him over €5m per year. I have absolutely no doubt that he is worth every cent.

Indeed, and I hope he will get some additional help with housing.... things aren't cheap up west y'know..
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+2 #3 Peter Booker 2016-07-09 17:22
This "salary" dwarfs his "pension" from the EU. If I remember rightly at €60 000 per month, gives him over €5m per year. I have absolutely no doubt that he is worth every cent.
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+8 #2 Mildred 2016-07-09 15:08
Quite amusing that one division of Goldman Sachs are chasing BES / Novo Banco through the UK courts for their missing hundreds of millions but another division now employ this chap. No doubt he would love to relocate it out of London to ... maybe Lisbon. So much for Anglo-Portuguese alliances !

With the BES imminent collapse insider trading such a hot topic we must remember that Barroso had his son shoehorned at the time into a never advertised job at the Bank of Portugal. Which some interpreted as intending to ring fence his Maoist Dad's multi million euro earnings. From his time at the EU and as an ex-PM of Portugal.

Will any of this surface in the Portuguese Stock Market Regulators enquiry ? Ho ho ..... me thinks not.
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+5 #1 Chip 2016-07-09 14:43
€5 million a year.

And they wonder why the British people voted against the fatcat establishment.

Disgraceful.
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