Goldman Sachs, Warren Buffett To Help Small Businesses
They are going to try to buy good PR for themselves. What hypocrites!
NEW YORK -- Goldman Sachs Group Inc. said Tuesday it is teaming with billionaire investor Warren Buffett to invest $500 million to provide thousands of small business owners across America with college scholarships and boost their access to capital.
Goldman's philanthropic effort, called "10,000 Small Businesses," includes a $200 million contribution to community colleges, universities and other institutions to give grants to small business owners to further their education.
The $500 million initiative is dwarfed by the $16.7 billion that Goldman Sachs has set aside for employee compensation in just the first nine months of 2009. Goldman Sachs has donated $1 billion to charity since 1999, according to a spokesman for the company who was quoted in a recent story by The New York Times.