Despite monumental losses, some Wall Street firms will still be giving out big bonuses this year – firms that were bailed out by the government. Goldman Sachs, which accepted $10 billion in government (taxpayer) money, and lost $2.1 billion last quarter, announced Tuesday that it handed out $10.93 billion in benefits, bonuses, and compensation for the year – that is your money.
Goldman Sachs noted that the figure is down 46 percent from a year ago and that seven of its senior executives are forgoing bonuses this season. Doo, hoo…
And the Ebenezer Scrooge’s on the right get upset when companies that actually make something like the Auto Industry get “Loans”.
No one asked Goldman Sachs to “negotiate” for their bailout for the few that sit on their asses all day behind a computer screen and take 3 martini lunches – making money (rather losing or stealing that it) each day. But a few in the good ol’ USofA that have ok blue collar jobs with good benefits get coal in their Sach’s for x-mas.
Merry X-mas America. And for the New Year let’s everyone race to the bottom on the economic ladder and keep bailing out some rich fat-cat’s (no offense to cats).