Nauseated by Washington’s pay-to-play yet? In my book, Planet Ponzi, I detail how the destructive nature of the revolving door between Washington DC’s swamp and Wall Street will destroy capitalism. Reckless policies by central bankers like Janet Yellen and Ben Bernanke have made the wealth inequality gap the widest in history. Fast forward to 2021, and we have corporate policy guided by mob-rule, cancel culture and woke victimisation.
Goldman Sachs has announced a broad pledge of $10 billion to ‘change the lives’ of One Million Black Women. But the plan is thin on detail and smacks of a bid for good PR from an industry where inequality has thrived for years.
In a press release, Goldman Sachs promised that the One Million Black Women initiative “will address the dual disproportionate gender and racial biases that black women have faced for generations, which the pandemic has only exacerbated.” And Goldman’s CEO David Solomon explained the framework for the project. “Given all that’s happened over the course of the last year, we’ve done a lot of talking at the firm–and even more, listening–to help us figure out how we can do more to end the racial inequity and the gaps that have existed in society for well too long,” he said. Additionally, Goldman pledged $100 million for philanthropic causes.
The announcement follows last year’s wave of similarly vague corporate pledges. For example, in October, Jamie Dimon’s JPMorgan Chase promised $30 billion to address inequality over the next five years.
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