“Happy days are here again,” at least at Goldman Sachs, said Henry Blodget in The Business Insider. Goldman announced a much-better-than-expected $1.7 billion profit last quarter and a “brilliantly timed” $5 billion stock offering to help it pay back the Treasury. Freed from the government’s “TARP shackles,” Goldman will be able to snap up talent and clients, and leave its competitors in “the disgraced Wall Street mud.”
Goldman should have no trouble retaining employees, said Heidi N. Moore in The Wall Street Journal, since it set aside $4.7 billion for salaries and bonuses—half of its quarterly revenue and an increase over a year ago. The pay hikes, spread among fewer employees, and the company's increasing risk-taking are “a sure way to tick off the government.”
If you’re furious at the bonus-happy banks, you can hurt them—and help yourself—by paying off debt and saving more, said David Weidner in MarketWatch. Becoming “less enslaved” to the banks cuts down on those fees they collect, and “they feel it.” If banks want to “pay off bailout cash,” fine. But there’s no need to help them “more than you already have."
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- The U.S. is about to sell weapons to Vietnam. That's bad news for China.
- Why is the Pentagon stuffing caves in Norway full of tanks?
- What the Middle Ages can tell us about the GOP's big charity myth
- An open letter to #brands about Gamergate
- Did the media get Ferguson wrong?
- The most sensible GOP alternative to ObamaCare comes from a Senate candidate who is almost sure to lose
- 'Having it all' has officially jumped the shark
- 43 TV shows to watch in 2014
- Did Republicans overshoot on the Ebola panic?
- Gamergate has backfired spectacularly on its nincompoop perpetrators
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