October 13, 2009

From the Land of No Recession — and Money to Burn

To put that $23 billion bonus pool number in perspective, it is the most Goldman Sachs has accumulated for bonuses in its history — twice as much as in 2008. And it is doing so while memories are still fresh that just a year ago taxpayers had to step in when Wall Street, and even Goldman, were facing a run on the bank.

— from: Don’t Fail, or Reward Success (via NYT).

With the holiday season just around the corner and most people desperate for the sprinkle of a break, this wire image just floored me. The caption reads:

Brady White as Santa Claus drives a Customized Cupcake Car with Lisa Pongrace, and Greg Solberg, rear, at the unveiling of luxury retailer Neiman Marcus’ Christmas Book Tuesday, Oct. 6, 2009, in Dallas. The cars are powered by a 24-volt electric motor and cost $25K.

I’m interested in how you read the photo. Auto industry metaphors not withstanding, what ran me over was how much it licks the sugar off the death of ostentation and the notion of “The Great Recession” as the equalizer between the haves and have-nots.

(image: Tim Sharp/A.P.)

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Michael Shaw
See other posts by Michael here.

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