No Christmas parties for Goldman Sachs this year according to this insightful piece by Jessica Toonkel Marquez in Investment News.
In an attempt to keep a low profile, The Goldman Sachs Group Inc. has told its employees that it won’t be hosting a corporate Christmas party this year. The investment bank is also prohibiting employees from funding their own parties, an insider at the firm told InvestmentNews.
The Christmas party ban comes as Goldman has been under sharp public criticism for paying bigger bonuses this year while national unemployment hovers at 10.2% and many workers have taken pay cuts.
The take away? They have no shame about the radical redistribution of wealth from our economy into their own coffers ( from the article: “Last year, Goldman paid out $4.8 billion in bonuses, awarding 953 employees at least $1 million each and 78 employees at least $4 million. The rewards this year are expected to be greater.”). BUT they are increasingly sensitive to the fact that images of them flaunting this wealth make most Americans want to join an angry mob (including me … if you’re in D.C. on Monday at noon, come to the protest and rally at the Goldman Sachs headquarters on Capitol Hill).
Truly, appearances matter. But if Goldman Sachs was truly concerned
