Goldman exec: The bonuses are actually good for all!

“We have to tolerate the [financial] inequality as a way to achieving greater prosperity and opportunity for all.”

You can only shake your head.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aySZ9TS.aODA&pos=11

 

He's right in the general sense. Unfortunately, the culture of upper-class cronyism breaks the rational market for labor.

 

Maybe this asshole should try living on minimum wage for a month. Then will see how he feels about all this.

 

Matt Taibbi's awesome response

 

Awesome.

 

Indeed

Nothing else explains people like Alan Greenspan and Megan McArdle and all those other idiotic Ayn Rand devotees, big and small, who continually go out there in public and flog pseudo-religious beliefs about the self-correcting free-market as a cure-all for anything and everything, even as evidence to the contrary rains down from the sky like volcanic ash. These people actually believe this shit and they believe it with the imbecilic ferocity of teenagers, even the ones who are 190 years old like Greenspan (who incidentally finally conceded a “flaw” in his thinking, but only after the entire world exploded and even all the reality-proof friendly data sources he had relied upon for his whole life told him his ideas were fucked), and it’s nearly impossible to get them to let so much as a sliver of their belief systems go.

 

The story in this thread is the exact reason I thought all these companies should have been allowed to fail last year (let's call it a market correction).

Spare me the shit about breadlines.

Here we are, a year later, with the help of the US government propping up these companies, same old assholes and their compensation. It makes the blood boil.

 

If you think that's bad, wait for the reverberation from The Today Show report that Goldman received H1N1 vaccine for its employees before several NY hospitals received their stock.

Business Week had a similar report earlier in the week but it wasn't clear then that hospitals were still waiting while Goldman had their stash.

http://www.businessweek.com/bwdaily/dnflash/content/nov2009/db2009112_606442.htm

No question this is standard procedure for distributing vaccine, but it just looks sooooo bad.

 

See, I always thought Jesus' injunction "to love others as ourselves" was his way of telling the apostles to stop masturbating and start procreating.

 

I'm having a hard time believing I just read that.

It's funny, though.

 

Oh, don't worry. If there is a God, I was already ticketed for the big barbeque pit.