Public must learn to 'tolerate the inequality' of bonuses, says Goldman vice-chair

[bobbyw24]

Public must learn to 'tolerate the inequality' of bonuses, says Goldman Sachs vice-chairman

One of the City's leading figures has suggested that inequality created by bankers' huge salaries is a price worth paying for greater prosperity.

In remarks that will fuel the row around excessive pay, Lord Griffiths, vice-chairman of Goldman Sachs International and a former adviser to Margaret Thatcher, said banks should not be ashamed of rewarding their staff.

Speaking to an audience at St Paul's Cathedral in London about morality in the marketplace last night, Griffiths said the British public should "tolerate the inequality as a way to achieve greater prosperity for all".

http://www.guardian.co.uk/business/2009/oct/21/executive-pay-bonuses-goldmansachs

 

[brandon]

I can tolerate bonuses and high salaries. I can't tolerate bailouts and federal reserve loans.

I wonder if he thinks we should tolerate those things as well?

 

[bobbyw24]

How The Federal Reserve Bailed Out The World

http://www.ronpaulforums.com/showthread.php?t=215620

 

[Stary Hickory]

Then banks will have to deal with the fact that Americans will take away their "special" privileges. This is obscene.

 

[Dionysus]

Bonuses are one thing, distributing the booty of stolen/extorted wealth earned through failure, legal fanangling, and government corruption is another.

 

[ArchPaul]

the f*cking arrogance of this guy! Damn I wish this shit would just collapse,

 

[ctiger2]

I agree with Max Keiser when he said these financial terrorists should be taken in front of the people and drawn and quartered. Blankfein, Thane, Paulson, Bernake, Geithner, Dimon would all do nicely for now.

 

[BillyDkid]

Public must learn to 'tolerate the inequality' of bonuses, says Goldman Sachs vice-chairman

One of the City's leading figures has suggested that inequality created by bankers' huge salaries is a price worth paying for greater prosperity.

In remarks that will fuel the row around excessive pay, Lord Griffiths, vice-chairman of Goldman Sachs International and a former adviser to Margaret Thatcher, said banks should not be ashamed of rewarding their staff.

Speaking to an audience at St Paul's Cathedral in London about morality in the marketplace last night, Griffiths said the British public should "tolerate the inequality as a way to achieve greater prosperity for all".

http://www.guardian.co.uk/business/2009/oct/21/executive-pay-bonuses-goldmansachs

Jeeze, I'm still waiting for that greater properity they're talking about.

 

[hugolp]

They pee on us, and tell us is raining.

 

[Sarge]

We are suppose to believe it is a golden shower.

 

[HOLLYWOOD]

GS: "Let them Eat Cake!"

 

[stag15]

We are suppose to believe it is a golden shower.

No, its a goldman shower.

 

[Brian4Liberty]

They pee on us, and tell us is raining.

It's trickle down economics...

 

[ARealConservative]

greater prosperity



debasing currency only makes you prosperous when you bet against the currency.

 

[raiha]

Hung prior to drawing and quartering is the norm.

 

[Cowlesy]

I want to go work on their PM Desk, just because I bet it would be extremely interesting.


Nothing of interest to me, but perhaps to job-seekers here?

http://www2.goldmansachs.com/careers/begin/unique-positions/experienced-hire.html

 

[Brian4Liberty]

I want to go work on their PM Desk, just because I bet it would be extremely interesting.


Nothing of interest to me, but perhaps to job-seekers here?

I know someone who worked for them. Said they were the biggest scumbags he had ever seen (and mostly incompetent, totally short term gains, no long term thought at all).

 

[denison]

the f*cking arrogance of this guy! Damn I wish this shit would just collapse,

^ this. +1.

 

[phill4paul]

And this is the lesson of WELFARE! Once given those that receive it believe it is an entitlement.

The top have it. The bottom have it. The middle pays for it. Soon there ain't gonna be a middle anymore.

 

[andrewh817]

What??

Is he talking about the same public that was majorly against the bailouts in the first place?