Sometimes it is hard to fathom how inequitable the global distribution of wealth is, particularly as the current economic crisis is affecting the relatively little advanced economies give to the hungry, ill and dying across the world from Africa and Asia through to the Americas.Ordinary people who more often than not live on less than two dollars a day.
Or why the UN Millennium Project does not appear to be meeting its goals.
But never fear, the world is righting itself and greed is once again triumphing as a Goldman Sachs recent media release attests.
Yesterday the Goldman Sachs Group reported that total assets were worth $890 billion, total capital as of end June 2009 was $254.05 billion, with net revenues of $13.76 billion and net earnings of 3.4 billion for the second quarter of 2009.
Compensation and benefits (including salaries, severance expenses, bonuses, payroll tax etc.,) for the same period were $6.65 billion.
On 17 June it even repaid the $10 billion is borrowed from the U.S. Government and taxpayers in that over-the-top bankers feeding frenzy at the beginning of the global economic crisis.
Goldman Sachs Group media release, 14 July 2009
New York Times article, 12 July 2009
Photo: Google Images
No comments:
Post a Comment