$20 billion in bonunes. That is good welfare, when everything else is collapsing. Goldman announced record earnings in July, firm is on course to surpass $50 billion in revenue in 09, to pay employees more than $20 billion in year-end bonuses. And jobless people have been cut off from ANY medical care whatsoever in California...criminal... From 2001 to 2007, Goldman hawked at least $135 billion in bonds keyed to risky home loans.
In addition to selling about $39 billion of its own risky mortgage securities in 2006 and 2007, Goldman marketed at least $17 billion more for others.. Goldman used offshore tax havens to shuffle its mortgage-backed securities to institutions worldwide, including European and Asian banks, often in secret deals run through the Cayman Islands, a British territory in the Caribbean that companies use to bypass U.S. disclosure requirements.
