Goldman Sachs: Record of $23 billion in bonuses for 2009; explaining their economic parasitism
Goldman Sachs is among the most visible financial parasites. Their executives have a revolving door through the US Treasury Department. They profit through “trading,” much like Enron did; including selling investments represented as AAA while simultaneously betting the value of those investments tank. Their CEO says they’re “doing God’s work,” as Enron’s CEO said, “We are on the side of angels.” A US Senate report puts the parasitic cost to Americans at $2 to $4 trillion every year. To put that figure into perspective, that’s an almost unbelievable $20,000 to $40,000 added cost per US household every year. Goldman Sachs is so happy with their “trading,” they’ll pay out a record of $23 billion in bonuses to their top employees for their 2009 work.
There are professionals in economics and finance using the term “parasitism” in its literal sense to describe our US economy.
Read more: examiner.com