Sam Pizzigati: "In a Lost Decade ..." - Too Much

[John Richard Clinton Maenpaa]

Sam Pizzigati: "In a Lost Decade ..." - Too Much

Excerpt: Next Monday, January 18, Goldman Sachs will reportedly release the figures on the bank's bonus outlays for 2009. That should make next Monday one of the most fascinating - and infuriating - days in U.S. financial history.

A bank that nearly crashed 16 months ago - and avoided crashing only because the federal government came galloping to the rescue - will hand out over $20 billion in bonuses at a time when one out of every ten Americans can't find work.

Is this just greed, or something worse? Like insanity. The power suits at Goldman Sachs, former International Monetary Fund chief economist Simon Johnson noted last week, "really think they are worth the money."

We really think our nation's top leaders, from the White House on down, desperately need to get serious about ending, once and for all, the mad grasping at America's economic summit. We explain why in this week's Too Much.

http://toomuchonline.org/