Yachts or Jobs?
The three biggest banks to exit the government’s TARP program — Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co.’s investment bank — “are set to pay record bonuses this year,” totaling $29.7 billion. Meanwhile, 7.3 million people have lost their jobs since the current Depression began in December, 2007, on George W. Bush's watch. If just the bonuses from those three banks were instead handed off to the 7.3 million people who have lost their jobs, it would be about $5000 per person to help them get by. Instead it'll go into yachts and Swiss bank accounts.