On October 19, 2009
Mad at Goldman Sachs Bonuses? Blame Yourself
When Goldman Sachs announced last week that its swelling bonus pool for top performers had reached a record $23 billion — about $700,00 for each of its 32,000 employees — the chorus started anew over excessive compensation on Wall Street. Goldman’s sop that it would pay $200 million to charity didn’t do much to silence the critics on the weekend news shows. “The bonuses are offensive,” Obama adviser David Axelrod complained on ABC’s This Week. After all, it’s only been a year since American taxpayers wrote Goldman a whopping $10 billion bailout check, which it has since paid back. What, you are surprised by this pay day? Goldman hasn’t lied to you about its intentions. You just haven’t been listening….
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