Each of the firm's 443 partners is on course to pocket an average Christmas bonus of more than £3million. The size of the pay pool comfortably dwarfs the £6.1billion lifeline which the U.S. government is throwing to Goldman as part of its £430billion bail-out. As Washington pours money into the bank, the cash will immediately be channelled to Goldman's already well-heeled employees.
Occasional reports are printed, televised, and blogged about how the "bailout" was supposed to help banks renegotiate bad debt and continue lending money. Not enable a mergers and acquisition spree and subsidize executive bonuses.
Its sort of like something out of an Ayn Rand revenge paperback. The democrats will restore the progressive income taxes America has had in every war since photography. Wall Street is getting its income tax exemption before-hand.
The annual reaganomics deficits are dismissed by ReaganHeads as being a small portion of GDP. What matters is how great a portion of our annual federal expenditures are financed by borrowing from our trade surplus partners. (it is odd that all of our trade surplus partners have less freedom, more government integration, and/or higher taxes than us. how did they get so productive?). They can indicate a willingness to stop doing this. the resulting panic(market drop) could give them quite favorable terms for buying up a lot of real estate and capital.
