Two articles appeared in the Oregonian recently that, taken together, felt so totally wrong that I had to bring them to your attention. The lead story on the front page was about the record number of Oregonians receiving food stamps during August of this year – over 635,000 people needed that government program, a 31 percent increase over the previous August. The same article reported that the Oregon Food Bank set a record in 2008, giving out 897,000 emergency food boxes.
These are not the kind of records one strives to break.
Meanwhile, buried in the Business section, was a NY Times Service piece about Goldman Sachs and its comeback (after receiving TARP bailout funds). That article reported that “the 30,000 employees of Goldman Sachs … are on track to earn an average of $700,000 this year.”
Yes, you read that correctly – an average of $700,000 – for all 30,000. (The article went on to report that, by and large, the types of derivatives that got us into the whole bank bailout business last fall continue to be traded – and that regulation of those risky instruments is unlikely.)
Two thoughts occurred to me as I read these articles.
One was that the Oregonian missed a big chance to really make a statement by not placing the Goldman Sachs piece adjacent to the food stamp story on the front page. That’s what I would have done.
The second thought was this: WHAT IS WRONG WITH THIS COUNTRY? Here we are wallowing in the throes of a recession, with millions of folks unemployed, resorting to food stamps and standing in line for food boxes. But for Goldman Sachs (and probably a bunch of other banks and investment firms), it’s business as usual.
I honestly don’t know how people who are pulling down seven-figure salaries can sleep at night. It’s just so totally wrong.

September 20th, 2009 | Category: Metro Parent