Christmas Time At Goldman Sachs

$111million in bonuses are to be paid out to top Goldman Sachs executives, despite the $10 billion of U.S. bailout money given in 2008. This deal still goes ahead in the face of the worst world recession for 80 years.

The investment banks' chief executive Lloyd Blankfein and president Gary Cohn will get $24million each under the agreement that will see thousands of others get fat-cat  rewards. The bonuses were agreed months before Goldman’s took the cash, but due to technicalities there is no way to stop the bank from paying them out. Is there any justice at Christmas time? Not for the overpaid corrupt few that are masters of the universe in banking? My question is, When are they going to pay back the bailout money and at what level of interest? Also how much tax is paid on a 24,000,000 dollar bonus? This year the New York-based firm paid $550 million to settle U.S. regulators’ fraud charges related to  Mortgage Security, the company sold in 2007. “Clearly we now look back and say, ‘Was everything alright'? Should they have paid out such disproportionate bonuses? Maybe not!  Merry Christmas