How Can Goldman Sachs Pay Out $16.2 Billion in Bonuses This Year When We Had to Bail Them Out Last Year? Because They Play From the Bottom of the Deck! Calling All Tea Partiers! Sic ‘em!!!
Published on Sunday, February 21, 2010 by Rolling Stone
This Matt Taibbi guy from Rolling Stone magazine doesn’t hold anything back. He calls it like it is. It is well researched. The language is descriptive. It is long and in-depth. It will make you angry. It will make you frustrated. It will make you want to turn the Tea Partiers loose on the crooks running Wall Street. If the government won’t clean them out maybe the Tea Partiers will. Elliott Spitzer for President!!! He’ll get the bastards!
Wall Street’s Bailout Hustle
by Matt Taibbi
On January 21st, Lloyd Blankfein left a peculiar voicemail message on the work phones of his employees at Goldman Sachs. Fast becoming America’s pre-eminent Marvel Comics supervillain, the CEO used the call to deploy his secret weapon: a pair of giant, nuclear-powered testicles. In his message, Blankfein addressed his plan to pay out gigantic year-end bonuses amid widespread controversy over Goldman’s role in precipitating the global financial crisis.
The bank had already set aside a tidy $16.2 billion for salaries and bonuses – meaning that Goldman employees were each set to take home an average of $498,246, a number roughly commensurate with what they received during the bubble years. Still, the troops were worried: There were rumors that Dr. Ballsachs, bowing to political pressure, might be forced to scale the number back. After all, the country was broke, 14.8 million Americans were stranded on the unemployment line, and Barack Obama and the Democrats were trying to recover the populist high ground after their bitch-whipping in Massachusetts by calling for a “bailout tax” on banks. Maybe this wasn’t the right time for Goldman to be throwing its annual Roman bonus orgy.
Not to worry, Blankfein reassured employees. “In a year that proved to have no shortage of story lines,” he said, “I believe very strongly that performance is the ultimate narrative.”
Translation: We made a shitload of money last year because Continue reading…




