Video: Nomi Prins Dishes on Goldman

Test ticker

Monika Bauerlein,
CEO

Dear Reader,

The next few months are make-or-break for Mother Jones’ fundraising, and we need more online readers to pitch in than have been of late. In "It's Not a Crisis. This Is the New Normal," we take a level-headed look at the brutal economics of journalism, why investigative reporting like you get from us matters, and why we're optimistic we can grow our base of support in a big way—starting with hitting a huge $300,000 goal in just three weeks. Please learn more and donate if you can right now.

The next few months are make-or-break for Mother Jones’ fundraising. We need to raise $300,000 quickly, and we need more online readers to pitch in than have been. Please learn more in "It's Not a Crisis. This Is the New Normal," where we go into the brutal economics of journalism, and what makes Mother Jones unique and worth supporting if you can right now.

Fight disinformation: Sign up for the free Mother Jones Daily newsletter and follow the news that matters.

Former Goldman Sachs managing director Nomi Prins challenges the math behind Goldman’s record profits on Bloomberg TV. (Sorry, can’t seem to get this to embed right now…). For the details on why you pay for those profits–and the big bonuses to Goldman execs–read her piece. Sample:

Since Goldman is trading big with our money, why not also use it to pay big bonuses? It’s not like there are any strings attached. For the first half of 2009, Goldman set aside $11.4 billion for compensation—34 percent more than for the first half of 2008, keeping them on target for a record bonus year—even though they still owe the federal government $53.6 billion, a sum more than four times that bonus amount.