Anorak News | Goldman Sachs Looks After Goldman Sachs

Goldman Sachs Looks After Goldman Sachs

by | 17th, December 2008

GOLDMAN Sachs know all about money:

Despite losing $2.1 billion in the quarter just ended, Goldman Sachs has increased the ratio of dosh paid to Goldman staff to 48 percent of all revenue.

Of course it claims that this is not just the usual bonuses all round, and points to the fact that it has sacked 10% of its staff in the quarter to prove that they really do share the pain of its shareholders who have watched the value of their shares crumble into the dust.

So Goldman says they are fine, but then they would say that, wouldn’t they?

The ratings agency, Moody’s Investors Service, disagreed and lowered its long-term credit rating on Goldman Sachs to A1 from Aa3.

Some people have no appreciation of the need to support the brightest and the best…

– Chenier


Posted: 17th, December 2008 | In: Money Comment (1) | TrackBack | Permalink