How Does Goldman Sachs Make Its Profits?

Greg Smith resignation letter

March 14, 2012 was Greg Smith’s last day at Goldman Sachs. His resignation letter that was published in The New York Times was an internet success overnight. Smith has recharged the OWS warrior battle cry. The Goldman Sachs profit video gives us an idea what Smith is talking about.

From the subprime mortgages to bank bonuses, to the investigations, Goldman Sachs can’t seem to escape the fury of the public.

Lloyd Blankfein, named by Financial Times as “2009 Person of the Year”, is one of the highest paid executives on Wall Street. Blankfein earned a total of $54.4 million in 2006. The compensation included a cash bonus of $27.3 million, with the rest paid in stock and options.

Also, Obama’s top funder in 2008: Goldman Sachs, whose CEO Lloyd Blankfein has visited the White House 10 times. This is another reason that the company is under public scrutiny.

How Does Goldman Sachs Make Its Profits (Part 2) PBSNewsHour