It’s That Time of the Year (Again)!
The weather is getting a bit crisper, people are preparing for the upcoming holiday season, and Goldman Sachs is announcing their annual bonuses. Most people recognize the beginning of the holiday season by the weather changing or displays in store windows as the holidays approach. I, on the other hand, realize that the holiday season is upon us when I hear the insanely large bonuses for Goldman Sachs executives.
Goldman’s bonus pool hit an all-time record of $23 BILLION DOLLARS! Yes, top execs will be divvying up $23 billion Washingtons amongst themselves and will inevitably buy yachts and mansions abroad.
These bonuses are funded by the average Joe that usually loses his money in stock market investing because the market has nothing to do with company performance, but rather market manipulation by large firms like Sachs that trade and short sell stocks. Besides running the stock market, they also run the damn country, having a direct line to every White House administration ($150 million was contributed to Obama’s campaign).
Furthermore, bankrupt AIG has been paying retention bonuses to keep “key employees.” Well, they just paid a $7,700 retention bonus to a kitchen worker. Nice.