The most powerful firm on Wall Street, Goldman Sach just announced they will be laying off 3,260 workers or 10% of their workforce.  That’s on top of the annual layoffs (culling) of folks deemed “not being worthy of working at Goldman”.  WTF?

The 10% cut means that the $10M mid-level Goldman Trader will be left with $9M and CEO Lloyd Blankfein won’t get the $68M like he did last year, but will have to settle for a paltry $62M.  At those levels I don’t know how he’s going to afford the polo club membership.  But don’t worry, ex-Goldman CEO and now Treasury Secretary Hank Paulson just gave Goldman a $10B loan courtesy of you and me, the American tax payers.