The bank says it is keen to defuse public anger about bankers profiting from the financial crisis.  Do these Harvard Business grads seriously believe the way to do this is to pay themselves even bigger bonuses than ever?  Come off it boys!  How stupid do you think we are?  Pretty stupid, I think.

Can't you just see the board meeting now?  The table is packed with pampered bankers in their £5,000 suits.
The chair says, "Now boys, how do we defuse public anger?"
"What about bailing out Haiti?" offers one exec. He is hooted down.
"Gee, boss.  Let's pay ourselves even bigger bonuses."
The room exploded with applause.
"Good idea, you're thinking like a true Master of the Universe," says the chair, lighting a big cigar.

In NY Goldman announced record profits and doled out an average of more than £300,000 to each of its staff.  I suppose that even includes the office cleaners.

I agree with the school of thought that bankers are hopelessly out of touch with public opinion.  One critic asked, "What are these people smoking?"

No one has been more successful than Goldman at trading on their own accounts.  During the financial crisis Goldman was forced to change its status from a broker-dealer to a bank holding company.  By converting back it will escape some scrutiny, but not all.

Proprietary trading involves traders placing bets on shares or currencies purely to make money for the bank's own bottom line.  Goldman were masters at this.

Obama wants a fight with the banks.  I do, too!  After the biggest meltdown since the Great Depression, he knows he's on a winning ticket. Wall Street says it's being demonized and doesn't think it deserves Osama's latest attack.  Bankers accuse Obama of scape-goating them to distract the public from his own political problems.  Good idea!

It's a wonder there aren't lynch mobs out for the bankers, and especially the hedge fund managers.

Hang on to your bonuses, boys, you may swing yet!