Press Trust of India / New York Mar 17, 2009, 20:22 IST
Financial services entity Goldman Sachs is offering to lend money to over 1,000 employees impacted by the financial crisis, says a media report.
The New York Times has reported that the loans offered by the company could range from "a few thousand dollars to hundreds of thousands".
"Goldman, which accepted billions of taxpayer dollars last fall and, as learned Sunday, was also a big beneficiary of the rescue of the American International Group, is offering to lend money to more than 1,000 employees who have been squeezed by the financial crisis.
"The loans, offered via e-mail last week, could range from a few thousand dollars to hundreds of thousands," the daily said in a report published today.
Pointing out that working at Goldman has long been regarded as a "sure path to riches", the report said, Goldmans employees are losing money on their personal investments. The daily noted that employees are losing money particularly in Goldman's own elite investment funds, which have been considered one of the perks of working at the bank.
"Now these funds have stumbled, and some Goldman employees who financed their gilded lifestyles by borrowing in good times are suddenly short on cash needed to meet commitments to their personal investments in the funds," the report added.
How TOTALLY ridiculous!!!! Goldman recently reported payment of $10BILLION in pay and bonuses last year. Sure, their employees savings in Goldman's has fallen as have EVERYONE'S savings. First, they grab $10 Billion TARP, and another $12 Billion 'payment' from AIG. What does Goldman want - to do a triple dip into taxpayer's funds to make their employees whole now? This has become the biggest sham in history!!!!
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