Confusing Obama

“So where’s the change?” Obama voters may be thinking. Corporations are making money!

I’m all for capitalism but the people that voted for Obama might not be understanding what’s going on and this may bring down Obama’s approval rating.

Goldman Sachs May Pay Biggest-Ever Bonuses This Year, –Report (blogs.wsj.com)

…Goldman was one of the 10 financial firms that paid some $68 billion to the government to escape curbs — including those on compensation — that came with taxpayer-funded capital infusions.

Goldman to make record bonus payout (www.guardian.co.uk)

Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm’s 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms.

A lack of competition and a surge in revenues from trading foreign currency, bonds and fixed-income products has sent profits at Goldman Sachs soaring, according to insiders at the firm.

…Last week, the firm predicted that President Barack Obama’s government could issue $3.25tn of debt before September, almost four times last year’s sum. Goldman, a prime broker of US government bonds, is expected to make hundreds of millions of dollars in profits from selling and dealing in the bonds.

Hey, if people deserve it, they should get bonuses and pay raises. That’s how you reward and keep them. The gray area is that they received stimulus money. It seems that Goldman Sachs is set up to benefit from all of Obama’s spending. Hmm.

This is just one part of a bigger equation that is slowly being revealed. Just a tiny part. I don’t think all of this is an accident but has been carefully planned. We’ll see.

-Tony