How Do You Solve A Problem Like Goldman?

Remember the "Simpsons" episode when Mr. Burns decided he felt bad about all the money he was making while the rest of the town suffered, so he decided to give everyone in Springfield five thousand dollars? Me neither. That’s because it never happened. And if even a fictional money grubbing billionaire is keeping every penny to himself, why would the real world equivalent do anything differently?

The truth is they wouldn’t. At least, not anything so altruistic. In response to Thursday’s announcement that Goldman Sachs (dubbed “sacks of gold” by some) achieved record profits in 2009, at a time when recessionary woes, high levels of unemployment, and a general economic malaise has blanketed the country like nuclear fallout, the company decided to scale back the amount it had set aside for bonuses.Continue reading...