A new pandemic has risen, and we’re not talking about swine flu. The Guardian’s Wall Street correspondent, Andrew Clark, recently described US mega bank Goldman Sachs as a “blood–sucking vampire squid” – a new terror that feeds off the ‘green stuff’ rather than your immune system. That’s cash – not the need to go eco-friendly. Is such a description deserved? Well, maybe. Goldman announced a profit of $3.4bn in Q2, slightly more than the predicted profit of $1.7bn for the three months to June, meaning that the high-rolling bankers will divide a bumper compensation of over $6bn between them.
But don’t forget, it recently snapped up a $10bn hand-out from the US government to keep it going. And while the bank has already managed to pay it back, the sheer scale of the bonuses announced have raised many eyebrows. Blogs all over the world are questioning whether the bank is partly profiting from a situation they helped bring about. What is certain is that the banks cannot be left to their own devices, whether profiting or not – the word de-ja vu may spring to mind.
Huge pay outs to these thirsty vampires will not help the perception of banks by the uncontaminated people on the street. That makes us think that the ‘blood-sucking vampire squid’ could use the help of Media Mentor to help take control of their image. The decision to promote the ‘good’ news about doubling their profit wasn’t exactly inspired, and some interview training to handle the probing, persistent and critical questioning they will face about their bonuses would probably come in handy too.
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