Tuesday, July 14, 2009

Goldman: Calling A Spade A Spade

It's nice to see the mainstream media put someone on the air (they must not have been privy to his message) who can see Goldman for what it really is - a highly levered hedge fund with access to cheap Fed money. Goldman would never admit it, but without government intervention last fall, they would have failed. Now, less than a year later and after having benefited from government funds and the government's decision to let Lehman fail, they're paying out $6.65 billion in compensation to employees. That's just for the second quarter. That comes out to about $225,000 per employee. Again, that's just for the second quarter. Our tax dollars at work.

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