The Taxpayers Money, Goldman Sachs Record Bonuses

While you were day dreaming of a romantic trip with the balloon boy, Goldman Sachs announced record profits of $3.2 billion, “crushing Wall Street estimates for the third straight quarter.” Alas, the record profits and “the giant quarterly gain allowed Goldman to set aside $5.4 billion for employee compensation — bringing its bonus pool to $16.7 billion through September 30.”

But they couldn’t have done it with you, Joe Taxpayer:

[Goldman Sachs] was one of the nine big banks that received loans from Treasury last fall. It received $13 billion in the costly, widely questioned September 2008 rescue of insurer AIG. It has sold $22 billion in federally guaranteed debt under a plan the feds started to restore capital markets activity. And it has been a major beneficiary of the low interest rates the government has adopted in hopes of restarting the economy.

Long story short, we all own a little piece of Goldman Sachs largess — I hope my ‘Free Ride On A Goldman Executives Yacht’ voucher is in the mail! And in case you were wondering, $17.1 billion in Goldman bonuses is equal $121 dollars from every one of the 138 million taxpayers.

See Also: Goldman Can Spare You a Dime, Banker Bonuses in a Time of Crisis, The United States of Goldman Sachs, Treasury Officials Received Millions from Goldman Sachs, Goldman Sachs breaks record with $16.7bn bonus pot, Goldman Sachs: All Your Treasury Are Belong to Us, It’s Time to Impose WW II’s 95% Excess Profits Tax, Time for a Windfall Tax On Goldman?, and Keep your hands off Goldman’s bonuses.

Technorati Tags: goldman sachs, record bonuses, goldmen sachs, goldman sechs, record profits, taxpayer, bonuses, bail outs

Goldman Sachs Is Back (By Riding On The Back Of The Taxpayer)

Goldman Sachs Salutes Your Contribution To Its Profits

Max Keiser Destroys Goldman Sachs

The Tax Payer Pays The Big Banks Bonuses