(Editor’s note: in all fairness, the GS initiative does represent a fundamental shift away from the Friedman doctrine of amoral capitalism.)
Money does not represent gold, solver, or oil. Money represents human productivity – yours and mine. Goldman Sachs is about to award the greatest ANNUAL payout for its employees – over 700,000 dollars EACH.
The words “money” and “productivity” should be interchangeable. So, what exactly did Goldman Sachs produce in order to amass such astonishing amounts of “money?” Where is the corresponding astonishing productivity?
The line of fire is quite obvious; the productivity is really “future” productivity in the form of debt – yours and mine.
WSJ: Some of the largest shareholders in Goldman Sachs Group Inc. have urged the Wall Street firm to reduce the size of its bonus pool, arguing that it should pass along more of its blockbuster earnings to investors, according to people familiar with the situation.
Uhhmmm…15% of the shares are owned by the Goldman employees – sounds like the 2nd tier of the pyramid are getting anxious. Like a street gang, they battle for a piece of the turf. Perhaps Goldman should do something for the 3rd tier too.
Read More
