{"id":3352,"date":"2008-09-24T13:44:49","date_gmt":"2008-09-24T13:44:49","guid":{"rendered":"http:\/\/zmetro.com\/?p=3352"},"modified":"2008-09-24T13:44:49","modified_gmt":"2008-09-24T13:44:49","slug":"america_must_re","status":"publish","type":"post","link":"https:\/\/www.zmetro.com\/?p=3352","title":{"rendered":"America Must Rescue the Bonuses at Goldman Sachs: Michael Lewis"},"content":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=newsarchive&#038;sid=a6a6nqXGVdZY\">Michael Lewis<\/a>: <\/p>\n<blockquote><p><em>Anyone who caught even a sliver of yesterday&#8217;s hearings in the U.S. Senate on the proposed Treasury bailout of the mortgage-backed securities market knows that the current financial crisis is far from over. Suddenly all sorts of previously unthinkable catastrophes seem possible.<br \/>\nThe total collapse of the global financial system is one thing &#8212; everyone at Davos in January saw that coming. But the shrinkage of the Goldman Sachs Group Inc. bonus pool is another. Whatever else the Treasury achieves it must know that if the employees of Goldman suffer any sort of pay cut, it will be judged to have failed. And our country may never recover.<br \/>\nLast year Goldman paid its employees $20 billion, 44 percent of the firm&#8217;s revenue. Chief Executive Officer Lloyd Blankfein took home $68.5 million, and many otherwise ordinary human beings took home $10 million or mor<\/em><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p><a href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=newsarchive&#038;sid=a6a6nqXGVdZY\">Michael Lewis<\/a>: <\/p>\n<blockquote><p><em>Anyone who caught even a sliver of yesterday&#8217;s hearings in the U.S. Senate on the proposed Treasury bailout of the mortgage-backed securities market knows that the current financial crisis is far from over. Suddenly all sorts of previously unthinkable catastrophes seem possible.<br \/>\nThe total collapse of the global financial system is one thing &#8212; everyone at Davos in January saw that coming. But the shrinkage of the Goldman Sachs Group Inc. bonus pool is another. Whatever else the Treasury achieves it must know that if the employees of Goldman suffer any sort of pay cut, it will be judged to have failed. And our country may never recover.<br \/>\nLast year Goldman paid its employees $20 billion, 44 percent of the firm&#8217;s revenue. Chief Executive Officer Lloyd Blankfein took home $68.5 million, and many otherwise ordinary human beings took home $10 million or mor<\/em><\/p><\/blockquote>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,9,17],"tags":[],"_links":{"self":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/3352"}],"collection":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3352"}],"version-history":[{"count":0,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/3352\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3352"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3352"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3352"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}