Goldman Sach’s doubles bonuses?


After looking at Spencer’s charts on job loss for the month, and the decrease in hours worked in a week I felt bad. However,the WSJ announces that:

Business is back on Wall Street. If the good times continue to roll, lofty pay packages may be set for a comeback as well.

Based on analysts’ earnings forecasts for 2009, Goldman Sachs Group Inc. is on track to pay out as much as $20 billion this year, or about $700,000 per employee. That would be nearly double the firm’s $363,000 average last year, and slightly higher than the $661,000 for the average Goldman employee in fiscal 2007, according to analyst estimates reviewed by The Wall Street Journal.

Rolling Stones’s Matt Taibbi discusses Goldman Sachs Group Inc. influence and apparent ability to profit from a variety of situations. It also does not take a ‘conspiracy’ to accomplish…(hat tip MG) .

A fine American tradition continues. No false modesty there. How did they do that?