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Politics : Formerly About Advanced Micro Devices

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To: Elroy who wrote (316220)	12/18/2006 12:51:12 PM
From: Road Walker	Read Replies (4) of 1579140

Fat Cats 2007--Better Watch Your Back Katrina vanden Heuvel Sun Dec 17, 11:41 PM ET The Nation -- "There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning." --Warren Buffett The divide between rich and poor in America has never been greater. And Wall Street giant Goldman Sachs just widened that divide. The firm is lavishing its bankers, traders and stockbrokers with more than $16.5 billion in end-of-year bonus loot--the most ever doled out by a Wall Street firm. Most of the Wall Street trading houses had a profitable year , but Goldman's was spectacular--or, rather, obscenely spectacular: Its profits climbed 70 percent to $9.5 billion, up from $5.6 billion last year. The fattest of Goldman Sachs's fat cats are reported to be hauling in a cool $25 million each. (And some reports say that at least 25 of its "hottest" managers will each take home $100 million bonuses.) These are times when the combined wealth of the 400 richest Americans (see the 2006 Forbes 400 list)-- a record-breaking $1.25 trillion--is about the same cumulative wealth of half the US population, numbering 57 million households. news.yahoo.com

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