The Joys of Plutocracy

Definition of PLUTOCRACY

1. government by the wealthy

2. a controlling class of the wealthy

— plu·to·crat\ˈplü-tə-ˌkrat\ noun
— plu·to·crat·ic\ˌplü-tə-ˈkra-tik\ adjective
— plu·to·crat·i·cal·ly\-ti-k(ə-)lē\ adverb

Examples of PLUTOCRACY

   1. If only the wealthy can afford to run for public office, are we more a plutocracy than a democracy?

   2. Corporate greed and America's growing plutocracy.

Origin of PLUTOCRACY:

Greek ploutokratia, from ploutos wealth; akin to Greek plein to sail, float — more at flow

First Known Use: 1652

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The Goldman Sachs Group, Inc. is a global investment banking and securities firm which engages in investment banking, securities, investment management, and other financial services primarily with institutional clients. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in the Lower Manhattan area of New York City, with additional offices in major international financial centers.

The firm provides mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clients, which include corporations, governments and individuals. The firm also engages in proprietary trading and private equity deals, and is a primary dealer in the United States Treasury security market.

Former employees include Robert Rubin and Henry Paulson who served as United States Secretary of the Treasury after leaving the firm; Rubin under President Bill Clinton and Paulson under George W. Bush.

Goldman Sachs
From Wikipedia, the free encyclopedia
The Goldman Sachs Group, Inc.
Type:     Public (NYSE: GS)
Industry:     Banking / Financial Services
Founded:     1869
Founder(s):     Marcus Goldman
Headquarters:     New York City, New York, U.S.
Area served:     Worldwide
Key people:     Lloyd C. Blankfein (Chairman and CEO)
Gary D. Cohn (President and COO)
Products:     Investment banking
Prime brokerage:
Investment management
Commercial banking
Commodities
Revenue     ▼ $51.673 billion (2009)
Operating income     ▲ $19.829 billion (2009)
Net income     ▲ $13.385 billion (2009)
Total assets     ▲ $883.000 billion (2Q 2010)
Total equity     ▲ $73.529 billion (2Q 2010)
Employees     34,100 (2Q 2010)
Website     GS.com

The Goldman Sachs Group, Inc. is a global investment banking and securities firm which engages in investment banking, securities, investment management, and other financial services primarily with institutional clients.

Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in the Lower Manhattan area of New York City, with additional offices in major international financial centers. The firm provides mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clients, which include corporations, governments and individuals. The firm also engages in proprietary trading and private equity deals, and is a primary dealer in the United States Treasury security market.

Former employees include Robert Rubin and Henry Paulson who served as United States Secretary of the Treasury after leaving the firm; Rubin under President Bill Clinton and Paulson under George W. Bush.

Now don’t we feel silly bailing out Goldman Sachs?......................DotCalm, Editor