Friday, January 4, 2008

Indecent bonuses & Goldman Sachs

It is estimated that the average bonus for 2007 for Goldman Sachs employees is us$370.000. Of course this is the average and since all pigs are not equal, the division of the spoils in the year of market turmoil and subprime mortgage scams and failures, is not and never is equal. Blank[en]fein the CEO pocketed us$67m, a rising of more than 15 per cent above what he took home in 2006. And down the pecking order of senior manage the millions spent on luxury goods diminished in millions granted in bonuses.
Goldman Sachs makes money. They are clever and by half. They smelt the subprime meltdown, and so to lessen their exposure, they repackaged their cdos, sivs, and the like, to other greedy investment banks and moneybags, and in the end wrote off paltry billions from their warchest.
They represent the rot and the decadence of the power elite running the US today. Were our elected officials not in their pay, had they backbone and stiffen wet spaghetti spines of courage, they would tax Goldman Sachs & their band of theives at fair market value and curve rapacious appetites feeding on the nation's ratepayers whose take home income has greatly diminished, who are struggling under heavy debt, and who are facing an old age of neglect and poverty. A call for economic justice should be on the lips of all candidates running for president. But let's not hod our breath that these rich people running for office really care as a class!

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