There’s no recession in the banking world.
Just 6 months after the US Government bailed out Goldman Sachs with nearly $13 billion, thousands of staff members worldwide will get big bonuses and pay hikes…billions of dollars worth, in fact.
I think Goldman Sachs should pay back the US government first (that’s us, the little taxpayers, folks) before they give raises or bonuses–don’t you agree?
Bobbi
Here’s more on the story:
Sachs of gold: Six months after bailout costing billions, greedy bankers reward themselves with a NEW round of huge bonuses
City bankers are set to pocket huge bonuses again, despite bringing the world economy to the brink of ruin.
Goldman Sachs yesterday promised thousands of staff - 5,500 of them in the UK - a 33 per cent pay boost after it returned to profit.
Other banks are expected to follow suit after benefiting from trillions of pounds in government bailouts.
Last night angry MPs condemned what they said was ‘business as usual’ for City fat cats. Goldman Sachs was accused of ‘taking the mickey’ out of taxpayers with such massive bonuses during a global recession.
The Wall Street bank, bailed-out with £6.7billion from the U.S. government only last October, has raised its bonus and pay pool for the first three months of this year by 17 per cent, to £3.1billion.
As it has sacked one in eight workers since last spring, the 28,000 remaining staff will see their slice soar from an average of £84,000 last year to £112,000. That is the equivalent of an annual salary of £450,000, with some top people earning many times that figure.
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