Capitalism: An Apathy Story
This Thursday, in a move that would make Baron von Louis Rothschild blush with shame (or burst with pride), Goldman Sachs will announce that it is more than doubling its bonus pool: from 11 billion in 2007 to 23 billion in 2008.
I always thought the concept of the "Welfare Queen" was eliminated during the Clinton Regime (where his SecTreas was a former chair of G S) however, Goldman Sachs has received billions of dollars in taxpayer welfare and supposedly paid that back, except for the 13 billion that was funneled through AIG to Goldman through loan guarantees.
Well, wouldn't it be hunky dory if every loan we consumers took out from these banksters came with a guarantee that if we failed, our government would pay our loans off?
To diffuse any citizenry guillotine brigades, the Chairman of G S says that one billion dollars of that money will be given to charity, without specifying which charity it will be going to, probably Billionaire Overseas Villa Fund, or something like that. Well, empty rhetoric or the shiny keys of Madison Avenue hocus-pocus glitz are not fooling me any more. However, I don't think much PR spin will be needed around this newest bonus outrage. There may be some international hell to pay, though, since 19 of the other G20 countries were rightly concerned about the image that out of control bonuses lends the already tarnished state of Robber Class deviltry, I am concerned that the threatening dumping of the dollar will begin to commence in earnest after this round.