“On July 14, Goldman Sachs posted second-quarter profits of $3.44 billion, more than the company made in all of 2008 and about on par with the precrisis gilded age, while announcing that it had set aside $11.4 billion this year to compensate workers, or $386,489 per employee.”Excuse me? The government bailed them out with billions when the crisis hit, and now only a few months later, while unemployment soars and the nation remains in a deep recssion, Goldman Sachs is back to their pre-crisis obscene executive payouts?
Rolling Stone contributing editor Matt Taibbi has reported
“… [T]he number of [current and former] Goldman Sachs employees who are in the government is so—it’s so enormous that it would be impossible to list on this program. But just briefly, you know, there were two Treasury secretaries who were very important: Bob Rubin during the Clinton administration and Hank Paulson during the Bush administration. Bush’s Chief of Staff, Josh Bolten, was a former Goldman Sachs banker. The guy who administered TARP, Neel Kashkari, was a Goldman banker. The current head of the NYSE, the World Bank, the Canadian National Bank, the number two guy at the Treasury, the head of the Commodity Futures Exchange Commission, which regulates the commodities market—all these people are ex-Goldman bankers. And because of that, they have access to these, you know, contacts in government, and they’ve always been able to get whatever they want from government, whenever they want…”Sounds to me like a cozy deal between the government and Goldman Sachs. Sound to me like something is rotten in Washington.......
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