from Zero Hedge:
If you needed proof of the widening gap between the rich and everyone else (and the attendant rise of class segregation) beyond that presented by the St. Louis Fed study linked above and by the anecdotal evidence that’s readily observable by looking at the prices paid this year for high-end art and mega mansions, look no further than Wall Street, where, thanks to the Fed’s generosity, Lloyd Blankfein is now a billionaire.
Speaking of Goldman Sachs and income inequality, back in April, Hank Paulson and Robert Rubin sat down with Sheryl Sandberg and Tim Geithner at an event hosted by Michael Milken (no less), to discuss a variety of topics. Around a half hour into the discussion, Sandberg asks Paulson about income inequality. Here’s what happens next:
Sandberg: “Yeah, so let’s follow up on a bunch of the things we were [talking about]. Let’s start with income inequality.”
Paulson: “Ok, well.. income inequality. I think this is something we’ve all thought about. You know I was working on that topic when I was still at Goldman Sachs..”
Rubin: “In which direction? You were working on increasing it.”
Paulson then bursts out laughing: “Yeah! We were making it wider!”
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