Today’s Crikey editorial comes to you from subscriber and inbox regular Julian Gillespie.
Goldman Sachs (global) released their Q2 figures overnight — what a uniquely perverse series of figures they had to crow about. Goldman Sachs apparently profit well from most other economies’ recessions.
The telling point; the outlier set of figures if one reads the fine print on compensations and annualises the data to date — for their 29,400 employees the average take-home pay is USD$772,925 per employee — just $2000 shy of $1 million Aussie dollars per person.
But of course the average dog-body-do-most-of-the-work employee won’t be able to tell hubby or wife as much, as most of the annualised comp of about USD$22,723,995,000 (yes, billions) will be going into the accounts of just a few cream ladlers from the same club that brought us this fantastic tax payer funded GFC — the directors and senior managers who run every other non-Goldman Sachs person’s pension fund into the ground.
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Houston, we have a problem.
We couldn’t have put it better ourselves.