Thursday, July 16, 2009

Goldman Sachs' profit = more bonus payouts?????

You gotta be fucking kidding me.

In the July 12, 2009 New York Times article, "A Swift Return to Lofty Profits", it was reported that Goldman Sachs estimates a $3.44 billion in second quarter earnings, and is preparing its largest bonus payout in history.

David Paul writes in The Huffington Post that perhaps Goldman Sack-of-Shit should be content with tripling its stock value and forego the bonuses. I think pretty much most of America would agree.

The New York Times stated, "Analysts estimate that the bank will set aside enough money to pay a total of $18 billion in compensation and benefits this year to its 28,000 employees, or more than $600,000 an employee. Don't forget, GS was compelled to accept billions of dollars in federal aid, which it paid back last month." Goldman declined to comment over the weekend, pending its Tuesday earnings report.

Has my mad cow disease progressed further than I thought or didn't this country just go through a hubbub over bonuses and overpaid corporate fat cats? Mark my words - the U.S government and the American tax payers helped to keep GS aflloat and instead of opting to not pay bonuses as a sort of "gesture", GS is gonna pay those bonuses. Corporate America bastards.

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