Goldman Sachs: What It Really Is

It’s nice to see the mainstream media put someone on the air (they must not have been privy to his message) who can see Goldman (NYSE:GS) for what it really is - a highly levered hedge fund with access to cheap Fed money. Goldman would never admit it, but without government intervention last fall, they would have failed.

Now, less than a year later and after having benefited from government funds and the government’s decision to let Lehman fail, they’re paying out $6.65 billion in compensation to employees. That’s just for the second quarter. That comes out to about $225,000 per employee.

Again, that’s just for the second quarter. Our tax dollars at work.

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