The chief executive of Goldman Sachs, which has attracted widespread media attention over the size of its staff bonuses, believes banks serve a social purpose and are doing "God's work."He's wrong about the last part. Most people would think he was getting off too easy.In an interview with London's Sunday Times newspaper, Lloyd Blankfein also said he believed big profits and bonuses at banks were a sign that the world economy was recovering.
"We help companies to grow by helping them to raise capital. Companies that grow create wealth. This, in turn, allows people to have jobs that create more growth and more wealth. We have a social purpose," he told the paper.
The dominant Wall Street bank posted third-quarter earnings of $3 billion and plans to hand out more than $20 billion in year-end bonuses.
Blankfein told the Sunday Times that the bank's compensation practices correlated with long-term performance.
"Others made no money and still paid large bonuses. Some are not around anymore. I wonder why?"
He added that he understood, however, that people were angry with bankers' actions: "I know I could slit my wrists and people would cheer."
And of course God wants him to hand out billions in bonus money for shuffling numbers around. Blessed are the financial investment vehicle product creators, for they are truly doing the work of the Lamb of God. That whole loaves and fishes thing? Totally the same thing, making something out of nothing like that. Jesus performs the Miracle of Securitization, and lo He said "Long after I am gone, a bank will do this only with subprime loans."
I like how he's convinced himself he's not working for the guy downstairs, instead. I tell you, if mass indignation summoned angels of wrath, this guy would be the first to get chopped into flaming bits.
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