UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of one quarter of America's presidencies and edited alternative journals since 1964. The Review, which has been on the web since 1995, is now published from Freeport, Maine. See main page for full contents

October 21, 2009

TODAY'S LESSON FROM GOLDMAN SACHS

Guardian, UK - One of the City's leading figures has suggested that inequality created by bankers' huge salaries is a price worth paying for greater prosperity. In remarks that will fuel the row around excessive pay, Lord Griffiths, vice-chairman of Goldman Sachs International and a former adviser to Margaret Thatcher, said banks should not be ashamed of rewarding their staff.

Speaking to an audience at St Paul's Cathedral in London about morality in the marketplace last night, Griffiths said the British public should "tolerate the inequality as a way to achieve greater prosperity for all".. . .

1 Comments:

Anonymous Jit said...

Too bad there aren't anyone from Jacobin club to inform Lord Griffiths and his friends what a majority of people think of him and his likes........

October 22, 2009 1:11 AM  

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