Last year, the average Goldman Sachs employee was paid only $365,000. In 2010, the average salary was $430,000.
If falling salaries wasn't bad enough, the Vampire Squid is shedding labour. In 2011, over 2,000 people - around 7 percent of Goldman's staff - took the long walk to the exit.
The bank's CEO C. Blankfein has fallen on hard times. His 2011 pay package only amounted to $9 million. Things were so different in 2007, when Mr. Blankfein walked home with $68.5 million.
Something has to be done. The US government must step in and support hard pressed Goldman families. A taxpayer funded cash injection is needed to prevent further job losses and stabilize salaries.
Congress must act now!