We noted recently that Goldman Sachs has some massive PR challenges ahead of it when it comes to the bonuses it will pay for 2009. It looks like the total payout will be well in excess of $20 billion, smashing the record set in 2007.

CEO Lloyd Blankfein has been talking about the social good that the banks does, which is smart, but now comes word that the vice chairman of Goldman Sachs International, Brian Griffiths, has publically said the British public should "tolerate the inequality as a way to achieve greater prosperity for all," according to Reuters.

Now, the context of his entire message wasn't all that damning, he was trying to emphasize that the bank does some good. "I believe that we should be thinking about the medium term common good, not the short term common good... we should not, therefore, be ashamed of offering compensation in an internationally competitive market which ensures the bank businesses here and employs British people." But, in this environment, words will be seized on, fairly or not. Some critics have already emerged. 

For more:
- here's the article 

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