The WSJ reports:
NEW YORK (Dow Jones)–Goldman Sachs Group Inc. (GS) on Thursday delivered its richest quarterly profit in the investment bank’s 140-year history, driven in part because it restrained compensation amid a public outcry about excessive pay.
The most profitable bank on Wall Street capped off a record year with quarterly earnings of nearly $5 billion, an amount that eclipsed the combined returns of rivals JPMorgan Chase & Co. (JPM), Morgan Stanley (MS), Citigroup Inc. (C), and Bank of America Corp. (BAC).
Holding back compensation isn’t going to assuage the public outrage cupcake.
The public knows you criminals took a dump in their pool and these outrageous profits are only going to make them more angry at you.
The Goldman cronies responsible for orchestrating the AIG / TARP bailouts and subsequent banker bailouts must be brought to justice.
Goldman engineered the entire thing, they setup the bailouts, they setup the market, they looted the market, they knew ahead of time the CDOs were crap yet still pushed them on the public. The whole thing was staged and engineered by Goldman insiders.
These looters must be brought to justice.
Goldman, along with AIG, should be in bankruptcy court right now liquidating their assets. Instead they are posting record profits on the backs of the American tax payer.