The news today that Goldman Sachs intends to pay out £1.67 billion in bonuses to its staff has me incensed. This 'Bank' has been bailed out by the US Taxpayer and yet intends to pay out bonuses at an average per employee of £55,000.
It is banks like these that have, in their greed and lack of caution, precipitated the world into recession and yet they insist in justifying their bloated 'bonus' scheme. For goodness sake, their employees are lucky to still have a job, given the bad news today that un-employment in the UK is fast on its way to 2,000,000, let alone receive a huge fat bonus.
This is highly insensitive and disastrous PR given the state of the world economy. I am off to read again 'Das Kapital' and wonder how much Goldman Sachs has moved towards the Marxist theory that Capitalism has the seeds of its own destruction embedded in it. Perhaps, the 20th Century was a 100 years to soon for Marxist dialectic to be fully grasped? Goldman Sachs has perhaps just recruited a new generation to a cause that had been shown to be a failure.
If I was the owner of the semi-detached two bedroomed house, auctioned after reposession in Margate last week for only £46,000, leaving me homeless and still in debt to the tune of £80,000, my thoughts tonight would be unprintable.
Sam Dodson at York Street Gallery in Ramsgate - Sam Dodson this week until Wednesday of next week
9 minutes ago