Goldman Sachs ready to hand out £7bn salary and bonus package... after its £6bn bail-out

Goldman Sachs ready to hand out £7bn salary and bonus package... after its £6bn bail-out

www.dailymail.co.uk

Goldman Sachs is on course to pay its top City bankers multimillion-pound bonuses - despite asking the U.S. government for an emergency bail-out.

The struggling Wall Street bank has set aside £7billion for salaries and 2008 year-end bonuses, it emerged yesterday.

Each of the firm's 443 partners is on course to pocket an average Christmas bonus of more than £3million.

The size of the pay pool comfortably dwarfs the £6.1billion lifeline which the U.S. government is throwing to Goldman as part of its £430billion bail-out.

As Washington pours money into the bank, the cash will immediately be channelled to Goldman's already well-heeled employees.

(visit the link for the full news article)



[edit: title to same as source]
Headline: Please use the original story headline from your source.


[edit on 2-11-2008 by 12m8keall2c]

And the people are paying for their bailout- their bonus package bailouts!
And how many refuse that we tax them more. This is sickening.
We cannot allow this to carry on, actions has to be taken before the country is sold out to corporations and banks. The bailout only already hurts the economy, as debts rises in an effort to save the failed corporates, instead of using this money to reinvest, create or save jobs, they rather fill their already fat pockets. Everyone should write to their congress representatives and point this out. They should be accountable for what they are doing with Our money.

Wake up people!

www.dailymail.co.uk
(visit the link for the full news article)

Ah yes. The golden parachutes. I read about 3 yrs ago how the bmw, lexus, other high end car salesmen start to drooling around Christmas time. As the armani suits come running in with their bonus checks.

The gov has chided the street and banks to start loaning again with the money. But apparently it has already been pocketed. 850 billions dollars for what?

Horse thieves the lot of them. They should be strung up with extreme prejudice.

Wait for it.....watch the street fall on it's collective face again in six months or less and they wail for more billions. I've forgotten about a three month old bag of ripe potatos in the pantry that reeks less than this. Speculative lending to anyone with a heartbeat put them in this crisis. They don't give a hoot how many people are hurt. Only empty homes with no money coming in, and having to insure them and maintain them is pricey. A complete shakedown and close examination and regulation of the market is way overdue. The kicker was the ceo who worked twenty days before citicorp bought them out. What was his twenty days worth? 3 million dollars. And the gall of whatever firm it was to send its top execs to an exclusive resort in arizona for a cool 440k one day after its bailout. Thank shrub for deregulation and human nature of the unscrupulous to greed.

I don't know about other states. But here in Ohio they are pushing to keep payday loan, loan sharking at 340% like wildfire. It's a big money maker. And the local banks are sleeping and abetting these scum.

[edit on 11/2/2008 by jpm1602]

Originally posted by TheOracle

Everyone should write to their congress representatives and point this out. They should be accountable for what they are doing with Our money.

The only problem with that being it was those same congress members that voted through this bailout, after first adding more to it for their favourite local campaign donors.

To be honest, this whole bailout process is nothing mote than a well organised power and money grab before the next president steps in. They don't want to run the risk of a new administration cutting off the money so are getting what they can before that happens. The taxpayers ultimately get to foot the bill while those with the big bucks can get outta dodge to one of their overseas mansions and live off their ill gotten gains. We are all just serfs to them, providers of the cash and enablers for their thieving ways.

If true this is absolutely sickening. The greed of the people in control sometimes sickens me its as if they have a right to our hard earned money. We unfortunately have no say other than to pay up and shut up

Originally posted by TheOracle


We cannot allow this to carry on, actions has to be taken before the country is sold out to corporations and banks.

My dear fellow, this has already occured. Consider the publicly listed campaign donations and laws/bills enacted by government. Reading them requires understanding where in lies the PROFIT MARGIN. You see, corporations are people too.

(I think I should mention wars, control greed, and competitive egos here - alas, I am not much of a writer.)

jpn1602 "Horse thieves the lot of them. They should be strung up with extreme prejudice." ---I think that won't happen. And like a wise old sailor told me once "Dead men learn nothing." Lock em' up on bread/water, I say, and only check the cells when they start to stink. (Not because "OH It's just money, they don't deserve that!! Oh god, they are people too!" but because they profit from forcing other people to murder for them - that's called illegal where I am from.)

I do not endorse murder. It was metaphorical in the thought of how are children, our children's children, and our children's etc will be paying for this for decades. Ok, they cannot just print money supposedly. So where is this money coming from? China? Oh yea. They had to add another digit on the federal deficit clock in NY.

To think just eight years ago we had a nearly balanced budget. If we only had a global time machine.

Now we are bailing out England. France, and a multitude of others.
I like the bread and water thing. Put them in Guantanamo as economic terrorists.

This issue chafes my ..., and I feel strongly about it. I am sick of the greed and corruption.

Unfortunately, We the people said no and our congressmen and women still voted yes for that bailout. Our government is suppose to be a representive government, what we say is what is suppose to happen. The people of this country revolted from England because of taxation without representation. Now We the people are being taxed with misrepresentation. The government is not suppose to stick their hands in markets no matter what the consequnces and it is not suppose to look after anyone. Its not the duty of the government to make sure everyone eats a big meal and sleep in a warm bed. That is your job.

The government gave these banks all this money to save them and to help We the people and all they did was give bank more money to stick in their own pockets.

Two hundred years ago the entire nation would have taken up arms over what the government did to pass this bill, but today so many people are sucking on Uncle Sam's money dispensing nipple so hard they dare not say a word. The only way to to end this crap is to revolt with guillotines working non-stop, broadcasted on international TV putting these clowns out our misery, but this will never happen.


"Love it or leave it." Im accepting donations for a plane ticket out of here.

I'm no expert in law, but surely this is criminal, therefore illegal. Surely the public have got grounds for a lawsuit. At the end of the day a bank is a business like any other and why should someone who has no connection to that business be made to bail it out.

Where's Robin Hood when you need him?

[edit on 2-11-2008 by kindred]

thesaint! I just gagged on the food I was eating when I read what you said there! You are a Britton/Kingdom "commoner"? You know "our" past first hand -that is exactly what feudal lords and kings do have over an unarmed and nearly docile population - a right to your work, your family, you!

My goodnees! Here's a FUNNY STORY about my family's past - we were from the "nordic" countries and road the viking train to France - time past - ended up "lord of somestupidplace" - had the land taken back, lost all our "wealth, got made into indentured servents, then got taken out of Ireland and wound up in the US! As guess what! Taxed wage slaves!!!

EDIT : Further hilarity - there isn't any indication in the family records that any one of use ever got their hands personally bloodied in the ever so "eminent" decimation of the native peoples! Ya...OFC none of us are politicians (some in law other politico producing fields, but it won't happen I think) but we were always lorded over and had to give (and still do) our hard earned gains (mostly used to be farmers and administrative servents, etc.)!

See, that guy has a piece of paper that says he has authority over me. That guy next to him? He has one that says the same thing but he is subject to the first man. The lady next to the middle man? She has a piece of paper that says she is over me and she gets told to "enforce" the things on those other men with pieces of paper. Oh! But I "voted" them to get those slips of paper... Democratic process of choosing who gets to control me - it's good for you, it's good for America (the world), and it's what the founding fathers intended... (Those dirty, jealous, "well intentioned" buffons! Lummoxes the lot of them! Well, maybe not that one guy but some of the other ones... :puz

[edit on 2-11-2008 by SolarSeaman]

Its beginning to look like this mess is just too big, too old, too rotten, too petrified, too complicated, too wide spread, and too entrenched to do anything about it.

Is total collapse and annihilation of all we have known the only way out?
Thankfully, I am not attached to my possessions, but I do need to eat!

i can't believe there are so many smart, educated and well heeled ATSers surprised by this. it was always going to happen. the monetary system is built on greed, for greed and by greed. the only morality to it is profit.

they knew this collapse would happen, it was their business to know. they made hay while the sun shined because it was an inevitable collapse and they calculated that more profit would be made by being irresponsible than could be made by being responsible.

the worst of it is, they are the economy, the government sees it's job as propping up the economy, they can do whatever they want as an institution and the government have to facilitate them. they have the world by the short and curlies. they control the government. we live in a corporatist world.

it doesn't matter how extreme the solution is, they will still control everything because they own the means to purchase and supply. socialism isn't enough, communism isn't enough, maoism isn't even enough. the world will either collapse completely or they will control it and do as they wish irrespective of us, the people.
there is no third way.

[edit on 2/11/08 by pieman]

So where are all the paid trolls who were pushing for the bailout a few weeks ago? "Oh its going to save the economy'

They're in their houses, enjoying their caviar and driving their Lexuses, congratulating themselves for stalling the sheeple.

reply to post by TheOracle


Ah now this really pisses me off! I am being literally dogged by a couple of small credit cards for miniscule debt, and they are doing this? BS!

I have used my little money to keep up on my mortgage, van pmt. and electric, phone and cable, need something since we cant afford outside enjoyment for the past 8 years. And the credit cards are maxed just to keep food in the house and our bathroom supplied with the cheapest t.p. and shampoos, it is really their fault, when a loaf of bread and a carton of eggs can take the better part of a 20 dollar bill.

I ahve NO idea where this is leading, but it sounds like the total collapse of the USD.

NONE of the bailout went towards the little lady in the wheel chair who lives up the road from me, who lost her home and property for being a little behind on her mortgage payments, she lives well within her means, but has lost her home for being late on a couple of payments.

A good friend sent me an interesting email a couple days ago. definitly along the same lines Here is a link to the artical he sent a great read I suggest to everyone to take a look. definitly sickening.

Link

outrageous, no doubt,
and already being discussed since last thursday here and here

Originally posted by TheOracle
Everyone should write to their congress representatives and point this out. They should be accountable for what they are doing with Our money.

Wake up people!

And do what? Seriously, for a second consider the options. Writing some doofus in office might make you feel better but how can one really gage the effectiveness? This entire debacle is like a rape. Yes its brutal but quite frankly what are your choices other than to accept it. I don't want to see this anymore than the next person but these tired and pointless dreams people seem to have to either make others aware of the obvious or by some divine intervention clear matters just ain't gonna happen. Personally I'd like to see violent actions taken but that's for another day.

brill

Before the bail-out, many people did contact their representatives and relayed their vehement opposition to this 'mother of all schemes'

That's why it didn't pass the first time around.

So what happened? the PTB called each representative one by one to explain the 'merits' of shutting the # up and just doing what they are told.

And in the end, all the mails, phonecalls, and whatever else you sent to 'awaken' your representatives where just so much toilet paper.

There is no true Democracy anymore.. not just in the USA but globally.

Or, alternatively, what's in place now is a Democracy of sorts, where people have the right to say they are in disagreement, but that is where the public's involvement in how the show is run ends

I wonder when we'll see the first mobs lynching some Wall Street yokels.

And I wonder just how hard the counter reaction will be..

Reality check, the US was "sold out" the day after the War of independance finished. Thats when British and other European power elites who wanted to be free of Uk Goverment control took over and its been that way ever since. Rich and powerful Eurorean families living of the backs of the average American.

Originally posted by thesaint
If true this is absolutely sickening. The greed of the people in control sometimes sickens me its as if they have a right to our hard earned money. We unfortunately have no say other than to pay up and shut up

You people really need to get your right to bear arms back. You are of no use to American allies without it.

[edit on 2-11-2008 by ATS4dummies]