Bailout Money for Goldman Sachs Bonuses

ABC News reports that Goldman Sachs, which has received $10 billion in bailout money from the U.S. Treasury, is using those taxpayer dollars to pay for employee bonuses. Here is a link to the story. (video file, embed not available)

Of course money is fungible so it’s difficult, if not impossible, to know for sure.

Should government rescue funds be used to pay fat bonuses to Goldman Sachs bankers? Who knows. Goldman Sachs, which we profiled in the October Foundation Watch, shouldn’t have gotten a bailout in the first place.

Treasury Secretary Henry Paulson, a former Goldman Sachs head, will no doubt try to reassure Americans that everything is on the up and up.