Maybe you can carry a rich lady's baby for money?
“Goldman posted the richest quarterly profit in its 140-year history and, to the envy of its rivals, announced it had earmarked $11.4 billion so far this year to compensate its workers.
At that rate, Goldman workers could, on average, earn roughly $770,000 each this year — or nearly what they did at the height of the boom.
Only three years ago, Goldman paid more than 50 employees above $20 million each. In 2007, CEO Lloyd Blankfein collected one of the biggest bonuses in corporate history.
The latest headline results — $3.44 billion in profit during its second quarter ”
Seattle Times.
Yes you just read that Goldman Sachs had a record earning quarter. What about you? How have you done this quarter? How have your friends done this quarter? How has your family done this quarter? In the past two weeks I have known FIVE people who have been laid off from their jobs. This does not include people that I know who have been out of work for months.
According to some facts from the Fight Back Article, US in Longest Recessions Since the 1930s by Adam Price this is what it looks like out there for rest of  the quarter that Goldman Sachs had record earnings.
The economy has lost almost 6 million jobs (4.1% of total jobs) since 12/07, the worst downturn since the recession of 1948. Unemployment among African Americans hit a depression-level 15% in April, unemployment for Asian Americans has risen the fastest. 8.5 million people are on unemployment. 10.6% of the US is on food stamps. People on average are out of work five months. More than one-quarter of homeowners are ‘underwater’ with mortgages greater than the value of their home during the first three months of 2009. Apartment renters are being hit as former homeowners are competing for a place to live, keeping rents up (I know of three people who have had rent increases in the last few months, I probably know of more, but haven’t asked) even with the rising unemployment. During the first three months of 2009, 15% of houses were vacant, or more than 19 million homes. Continue reading →
