While the art market continues to be dogged by uncertainty, it's back to business as usual on Wall Street. Goldman Sachs, the company that was responsible for creating, marketing and trading many of the toxic financial instruments behind the mortgage crisis and ensuing global recession that sent the art market into free fall, has earned a reported 27 billion in the first 9 months of the financial year. Although Goldman Sachs CEO Lloyd Blankfein believes the company is doing "God's work" it appears executives are not relying on divine intervention to protect them from public outrage over their taxpayer-funded change of fortune. As news circulates of the company's plans to pay the highest ever bonuses (they are expected to average over $700,000) Bloomberg columnist Alice Schroeder reports that some bankers are arming themselves out of fear of a public uprising. You can read Schroeder's column here.
