Last fall, the American taxpayer handed over $700 billion dollars to Wall Street because the American economic system would supposedly collapse if the big banks failed. Now, just 9 months later, the largest recipients of TARP bailout money are now posting record profits and handing out exorbitant bonuses. <\/p>\n

This past week, Bank of America announced a quarterly profit of over $2.4 billion [source<\/a><\/em>], Citigroup announced record profits of over $3 billion [source<\/a>], and Goldman Sachs reported profits of over $3.4 billion [source<\/a>]. Even worse, Goldman Sachs is going to distribute over $11.3 billion in bonuses to it’s employees this year, or over $1 million per employee.<\/p>\n

So, let’s just get this straight: the American taxpayer gave nearly a trillion dollars…. so banks could make record profits and so Goldman Sachs could distribute over $11.3 billion dollars to it’s employees. IN BONUSES ALONE.<\/strong><\/em> <\/p>\n

This isn’t capitalism, this isn’t socialism, this isn’t the work of the free-market… this is pure theft from the American taxpayer and the United States government.<\/p>\n

See Also:<\/strong> The real price of Goldman\u2019s giganto-profits<\/a>, Another Day, Another Bank Getting Rich Off Your Money<\/a>, How to earn money like Goldman Sachs<\/a>, Goldman is a little bit pregnant<\/a>, Letter sent to Goldman Sachs PR chief<\/a>, JPMorgan, Goldman Sachs Profit Surge is an Accounting Mirage, Not a Sustainable Sector Trend<\/a>, Free market economics for dummies (and Goldman Sachs)<\/a>, So Now Profits Are Bad News? The Demonization of JPMorgan Chase, Goldman Sachs and Bank of America<\/a>, Goldman Sachs returns<\/a>, Asset Sales Lifted Citi and BofA to Profit<\/a>, Glenn Beck Explains the Goldman Sachs Web<\/a>, As Bank Bonuses Swell, Congress Gets Bill on Pay<\/a>, and JPMorgan, Goldman Sachs Profit Surge is an Accounting Mirage<\/a>.<\/p>\n

[tags]bailout, tarp, goldman sachs, wall street, aig, bank of america, boa, citigroup, record profits, corporate bonuses, executive bonuses, revenues, theft, capitalism, socialism, cronyism, corporatism, thieves[\/tags]<\/p>\n","protected":false},"excerpt":{"rendered":"

Last fall, the American taxpayer handed over $700 billion dollars to Wall Street because the American economic system would supposedly collapse if the big banks failed. Now, just 9 months later, the largest recipients of TARP bailout money are now posting record profits and handing out exorbitant bonuses. This past week, Bank of America announced […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"yoast_head":"\n