THE MOTU DON'T GET IT AT ALL

Lloyd Blankfein, the CEO of Goldman Sachs, tries to point out the "value" his MOTU created as a justification for obscene incomes (NPR, All Things Considered, 4/8/2009):

"But let me transport you back to 2005, 2006: In those years, Goldman Sachs actually had issues retaining our talent," he says. "I think it's kind of well-known that a lot of people who created equity firms and hedge funds were people who were alumni of our firm. They weren't alumni who necessarily ran through their whole careers and retired from Goldman Sachs. They were people who, in the prime of their careers, when they were still creating enormous value for the shareholders of Goldman Sachs, decided they had more lucrative alternatives outside of the firm."

Those two years were in the heart of the bubble and while Goldman shareholders may have profited, the rest of us have lost and some have lost a LOT.