"Liberty is meaningless where the right to utter one's thoughts and opinions has ceased to exist. That, of all rights, is the dread of tyrants. It is the right which they first of all strike down. They know its power. Thrones, dominions, principalities, and powers, founded in injustice and wrong, are sure to tremble, if men are allowed to reason. ~ Frederick Douglass
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Wednesday, January 19, 2011
Why Is This Man Smiling?
This is Lloyd Blankfein, CEO of Goldman Sachs. He is smiling because Goldman Sachs only reported a profit of a couple billion this quarter.
The employees of Goldman Sachs took home a little over 15 billion in compensation and bonuses. When you hand out all of that government fueled largesse- it gives you and your employees a chance to grab as much as you can. After all, you deserve it.
That way you don't have to bring those profits down to the bottom line or distribute them to shareholders.