Occupy Wall Street in second month: $10 billion in bonuses for Goldman Sachs

As the Occupy Wall Street movement that began in downtown Manhattan’s Zuccotti Park enters its second month, the giant Goldman Sachs investment bank announced October 19 that it had set aside $10.01 billion so far this year for year-end compensation and bonuses. At the same time, the bank reported a third quarter loss of $428 million, only the second time since Goldman went public in 1999 that it has reported a loss.

Goldman Sachs’ plans for mammoth year-end payouts only underscore the enormous inequality between the 1 percent represented by the investment bank and the financial industry’s top “earners” and the vast majority of the population.

via www.wsws.org