Wednesday, November 11, 2009

Bankers pocket billions while unemployment soars

Maureen Dowd writes:

Now we have two economies. We have recovering banks while we have 10-plus percent unemployment and 17.5 percent underemployment. The gross thing about the Wall Street of the last decade is how much its success was not shared with society.

Goldmine Sachs, as it’s known, is out for Goldmine Sachs.

As many Americans continue to struggle, Goldman, Morgan Stanley and JPMorgan Chase, banks that took government bailout money after throwing the entire world into crisis, have said they will dish out $30 billion in bonuses — up 60 percent from last year.

The saying used to be, whatever happens, the lawyers win. Now, it’s whatever happens, the bankers win.

The entire column is linked.

1 comment:

Anonymous said...

Wisconsin based M & I Bank took a government handout of 1.7 Billion. That's enough money to pay for Milwaukee's Marquette interchange reconstruction project, Miller Park Stadium, the Calatrava designed Art Museum and still have a few hundred million left over. But, interestingly, the bank has the gall to fly executives to Augusta, GA aboard one of the corporate jets for the annual Master's Golf Tournament each April and have them home the same day! How's that for using taxpayer money wisely?