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...with the record payout the firm made in 2007, at the height of the bubble. Thanks to Andrew Cuomo, the New York State attorney general, we know that in 2008, while Goldman earned $2.3 billion for the year, it paid out $4.82 billion in bonuses, giving 953 employees at least $1 million each and 78 executives $5 million or more (although Goldman's top five officers, including Blankfein, declined a bonus...
Friends in High Places Not least of those explanations has to do with Blankfein's appearance in the call logs of Henry Paulson, his predecessor as Goldman CEO, who was Treasury Secretary while the financial crisis started to unfold in early 2007 up until January 2009. For instance, in the week after Paulson allowed Lehman Brothers to collapse into bankruptcy last Sept. 15 - and while the Secretary was playing a major role in deciding whether to pump $85 billion into the rescue of insurance behemoth AIG - Paulson and Blankfein spoke 24 times. On one level it makes sense: a Treasury...
Some exiled Burmese dissidents have criticized Webb for lending legitimacy to the generals. But Webb did, at least, extract one concession from the junta. When the Senator's plane left Burma on Aug. 16, it carried an extra occupant: John Yettaw, the American sentenced to seven years' imprisonment with hard labor for his midnight swim to Suu Kyi's home. His saga--that of a middle-aged Mormon from Missouri who used homemade flippers to visit the world's most famous political prisoner--is stranger than any fiction, even that of Senator Jim Webb...
...violence doesn’t awe me. Politics has been violent—or at least violently crude and crass—for all of my generation’s time. Although there’s special irony about an AR-15 at a healthcare debate, it’s not altogether unexpected...
...understood that with any privilege comes an obligation to help those less privileged. Regardless of the many paths we will each pursue, we should all strive to emulate Kennedy’s sense of public duty and obligation to serve the world’s least fortunate...