The Rich Are Different. They Have Jobs
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Goldman Sachs, one of the Wall Street firms that got the H1N1 flu shot well ahead of millions of America’s school children, sent this health tip in a memo to its pampered, out-of-touch execs: “Resist the urge to open your own car door; let your driver do it.”
Yo, Jeeves. While you’re at it, dust around the edges of those massive CEO pay packages. Because according to a report released today by the Government Accountability Office (GAO), top executives at four companies that jettisoned their employee pension plans received $49.5 million in retirement and severance benefits in the years before the companies filed for bankruptcy, while retirees saw their benefits cut by as much as two-thirds.
Yet Wall Street bankers are making that cash flow keeps coming: Yesterday, writes David Dayen, Senate Republicans bowed low before their corporate masters and delayed a move by Sen. Chris Dodd (D-Conn.) to immediately take up a bill that would freeze all credit card rates, charges and fee increases.
