Goldman Sachs doubles profits

The monetary policy was supposed to boost the economy via quantitative easing (QE).  However, unemployment and under-employment are relatively high.  Wages for the 99% are flat or declining.  Yet profits at Goldman Sachs doubled.  This is likely due to Gold-man’s ability to borrow at low rates (QE) and gamble with that borrowed money.  But when those gambles don’t work out (e.g., the depression and recent recession) we taxpayers bail them out. 

Meanwhile, the 99% earn near zero interest paid on savings accounts.  QE, unemployment high, wages flat, deposit rates zero, and Goldman Sachs profit doubles?  Sure seems like wealth transfer from the 99% to the 1%…

http://m.usatoday.com/article/news/2519533http://m.usatoday.com/article/news/2519533

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