More Goldman Sachs hate - this one a very well-written Canadian article: http://www.cbc.ca/world/story/2009/11/12/f-rfa-macdonald.html --------------------------------------snip In this awful, miserable, depressed year, at a time when at least one in 10 Americans are jobless, the average pay for Goldman's 30,000 employees is expected to clock in at $700,000.
That means tens of millions for the masters of the universe at the top of the Goldman feeding chain. This at a company that enthusiastically participated in the system-wide, industrial-scale fraud of mortgage securitization, which nearly dragged the American economy, and much of the world, off a cliff last year. A company that, like so many of the other quick-buck artists on Wall Street, had to be rescued by big government, which is something hard-core free-enterprisers proudly claim to despise, at least until they need help. 'God's work' Anyway, Blankfein is not only proud of all this, he thinks Americans should be grateful. Goldman Sachs, he says, is doing "God's work." "We're very important," he told the Times of London in a recent interview. "We help companies to grow by helping them to raise capital. "Companies that grow, create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. It's a virtuous cycle. We have a social purpose." Shamelessness barely begins to describe that declaration. The fact is this: The free-market Wall Street swashbucklers recording all these profits are doing so only because they've been allowed to make some smart bets with taxpayers' money. -raghu. -- "I bought some batteries, but they weren't included." - Steven Wright _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
