Monday, September 29, 2008

Goldmine Sachs

I don't know...does the following quote about the Wall Street firm Goldman Sachs, where Hank Paulson spent his pre-Treasury career (and earned his great fortune) depress you too?

"Goldman is the firm that other Wall Street firms love to hate. It houses some of the world’s biggest private equity and hedge funds. Its investment bankers are the smartest. Its traders, the best. They make the most money on Wall Street, earning the firm the nickname Goldmine Sachs. (Its 30,522 employees earned an average of $600,000 last year — an average that considers secretaries as well as traders.)"

Is that what Paulson is trying to save? Does he really care about the average person? Has he repented of his high-flying ways, so as to want to do what is best for you and me, rather than just for his rich pals in New York? I honestly don't have a clue right now, and therefore am not sure whether Congress ( and therefore we the people) is being taken to the cleaners right now.

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