Forum Post: Goldman Sachs putting aside $10 billion for bonuses, etc.

From the World Socialist Website

Occupy Wall Street in second month: $10 billion in bonuses for Goldman Sachs

By our reporters 
21 October 2011

As the Occupy Wall Street movement that began in downtown Manhattan’s Zuccotti Park enters its second month, the giant Goldman Sachs investment bank announced October 19 that it had set aside $10.01 billion so far this year for year-end compensation and bonuses. At the same time, the bank reported a third quarter loss of $428 million, only the second time since Goldman went public in 1999 that it has reported a loss. Goldman Sachs’ plans for mammoth year-end payouts only underscore the enormous inequality between the 1 percent represented by the investment bank and the financial industry’s top “earners” and the vast majority of the population. In another development related to the Occupy movement, the New York Police Department announced that Deputy Inspector Anthony Bologna, the high-ranking police official caught on video pepper-spraying three female protesters on September 24, had been given the mildest of punishments. New York City authorities have concluded that Bologna used pepper spray “outside department guidelines,” but the only penalty suggested is that he could forfeit 10 vacation days. The deputy inspector can plead guilty or ask for a departmental trial. An official of the Captains Endowment Association said Bologna was “disappointed” with the decision and strongly suggested that he would contest punishment, no matter how mild. The proposed slap on the wrist is a signal from the administration of Mayor Michael Bloomberg that the city authorities and the Wall Street ruling elite, while they may slightly refine their tactics, remain determined to squelch the anti-Wall Street protest…

http://www.wsws.org/articles/2011/oct2011/owny-o21.shtml