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Charitable capitalism
Source: The Nation
Author: William Greider
Posted on 11.18.09 by Steve Trinward

“When John D. Rockefeller was feared and famous as the master monopolist of American industry, he used to hand out shiny new dimes to the urchins gathered around him on the street. Most Americans were not charmed by this philanthropic gesture. Rockefeller became a living symbol of miserly indifference. Nor will Lloyd Blankfein, CEO of Goldman Sachs, win much public affection for his charitable capitalism. Goldman and the other big dogs of Wall Street are afflicted with the stink of greed, having harvested swollen fortunes from the calamity they caused for the rest of the country. Blankfein made it worse by recently telling a British interviewer that, when you consider all the good things Goldman Sachs does for the economy, ‘we’re doing God’s work.’ God evidently rewards such good works up-front. Goldman executives expect to collect more than $20 billion in bonuses at year’s end. The rest of the economy is still waiting for its reward.” (11/18/09)


Link: http://www.thenation.com/doc/20091130/greider2

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