http://tinyurl.com/67ol5u
Talk about your redistribution of wealth!
"The struggling Wall Street bank has set aside £7billion for salaries and 2008 year-end bonuses, it emerged yesterday.
Each of the firm's 443 partners is on course to pocket an average Christmas bonus of more than £3million.
The size of the pay pool comfortably dwarfs the £6.1billion lifeline which the U.S. government is throwing to Goldman as part of its £430billion bail-out.
As Washington pours money into the bank, the cash will immediately be channelled to Goldman's already well-heeled employees.
News of the firm's largesse will revive the anger over the 'rewards for failure' culture endemic in the world of high finance.
The same bankers who have brought the global economy to its knees seem to pocketing the same kind of rewards they got during the boom years."
That's Goldman Sachs, pocketing tax money that they "needed" to avert a global "catastrophe". If by "catastrophe" you are mispronouncing "missed boat payment".
Goldman Sachs contributions to the Obama campaign: $874,207.
ReplyDeleteTo the McCain campaign: $228,695
Looks like they have a million invested in this election.
Well, sure. If I were them, I would, too. It has never been clearer that new regulation is coming down the pike. If you want a seat at the table, you need to get your foot in the door with the next President.
ReplyDeleteCan you believe the gall? I can understand staggering bonuses if you have put up the business equivalent of hitting .340 with 48 homers and 138 RBI. But epochal failure-enormous, gaping holes in the balance sheet-and you still take home a sack full of gold? I don't get it.
Funny coming from the people who like to go on and on about earning your keep and taking responsibility for your actions.