bobbyw24
09-11-2011, 12:59 PM
For the American economy – and for many other developed economies – the elephant in the room is the amount of money paid to bankers over the last five years. In the United States, the sum stands at an astounding $2.2 trillion.
Extrapolating over the coming decade, the numbers would approach $5 trillion, an amount vastly larger than what both President Barack Obama’s administration and his Republican opponents seem willing to cut from further government deficits.
http://static5.businessinsider.com/image/4e5f9821ecad04cd76000015/goldman-sachs-shadow.jpg
That $5 trillion dollars is not money invested in building roads, schools, and other long-term projects, but is directly transferred from the American economy to the personal accounts of bank executives and employees.
Read more: http://www.project-syndicate.org/commentary/taleb1/English#ixzz1XfinnJWp
Extrapolating over the coming decade, the numbers would approach $5 trillion, an amount vastly larger than what both President Barack Obama’s administration and his Republican opponents seem willing to cut from further government deficits.
http://static5.businessinsider.com/image/4e5f9821ecad04cd76000015/goldman-sachs-shadow.jpg
That $5 trillion dollars is not money invested in building roads, schools, and other long-term projects, but is directly transferred from the American economy to the personal accounts of bank executives and employees.
Read more: http://www.project-syndicate.org/commentary/taleb1/English#ixzz1XfinnJWp