Goldman Workers To Stay In Their Penthouses, Firm Sets Aside Record Amount For Pay

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According to reports from Bloomberg, Goldman Sachs (NYSE: GS) has set aside a record $16.9 billion to pay salaries, benefits and bonuses in the first nine months of the year. This tops last year's $16.5 billion figure for the whole year. Link to Article

Meanwhile, some Bear Stearns' (NYSE: BSC) traders and salespeople will be setting up their cardboard boxes next to the dead-beat mortgage borrowers whose loans were packaged and sold by Bear, leading to the collapse in the credit markets.

Ben Bernanke - Just Call Me 'Fiddy'

Along with 'Uncle Ben', 'Helicopter Ben', and 'The Beard' Fed Chairman Ben Bernanke will now like to be called 'Fiddy Cent' following his 50 bp cut of the Fed Fund rate and the Discount rate.

Fed Gets It Right, Hawks Shut Up

The Fed just cut the fed funds rate by 50bp - Bravo! This was a must. Uncle Ben got it right. He finally got over the Helicopter Ben-complex and let it fly.

All the inflation hawks will be crying and are booking appearances on TV as we speak. Yeah food is up, yeah energy is up, gold too - but housing is crashing. How can the largest household asset plummet and people not even mention it in the inflation argument? The crash in housing will also lead to a drop in rents - a huge household expenditure for those that don't own. Worried about a little inflation? How about another depression you fools.

The fed got it right - period. Inflation hawks shut up.