Today’s Crikey editorial comes to you from subscriber and inbox regular Julian Gillespie.
Goldman Sachs (global) released their Q2 figures overnight — what a uniquely perverse series of figures they had to crow about. Goldman Sachs apparently profit well from most other economies’ recessions.
The telling point; the outlier set of figures if one reads the fine print on compensations and annualises the data to date — for their 29,400 employees the average take-home pay is USD$772,925 per employee — just $2000 shy of $1 million Aussie dollars per person.
But of course the average dog-body-do-most-of-the-work employee won’t be able to tell hubby or wife as much, as most of the annualised comp of about USD$22,723,995,000 (yes, billions) will be going into the accounts of just a few cream ladlers from the same club that brought us this fantastic tax payer funded GFC — the directors and senior managers who run every other non-Goldman Sachs person’s pension fund into the ground.
Houston, we have a problem.
We couldn’t have put it better ourselves.
Didn’t a certain opposition leader head this outfit in Australia? I wonder what lobbying he did for his American masters when his mates Johnny and Pete were in power. Perhaps he could let us know whether he was all for deregulation american style while he was spruiking for Goldmans. I take it he had his fingers in the golden stream while he was there as well.
The last thing Australia needs is someone who might lead the country who was associated with outfits such as Goldman Sachs. Can you imagine what he would have been advising if his party had been in power when the GFC hit?
As an American, I can attest to the fact that our gov’t has been taken hostage by GS. My fellow Americans are too involved in watching American Idol to take notice, until it’s too late, of course. But the Fed, the Treasury, the party leaders in Congress and Senate, they’ve been bought and sold and have sold the american people down the river. It’s too late for us. Only more dire economic times, short of a revolution, will displace them. They’ll be long gone w/ the goods way before that anyways, having left us bereft and penniless.
I haven’t looked up the bios of your government’s appointed offices, especially in your Treasury or Central Bank, but I suspect GS’s tentacles have have found their way into those departments to some degree.
I’d recommend educating friends and family and use the US as an example of what can happen if you let the “Bankers go wild”. They can literally take down an entire nation