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There. about the public backlash, a lot of people were not happy with goldman and the big banks over the pay packages that they got. so goldman, how are they doing in that regard? >> yeah, that one's a little sticky. it's probably going to continue to be one. from a public relations standpoint anyway because goldman set aside more than $5 billion for salaries and bonuses in the first quarter. now, when you look at it as a portion of the company's revenue, it's actually less than they set aside last year. $5 million is 4% -- sorry, 43% of goldman's first quarter revenue. last year goldman set a...

Year. the president blames everything on greedy bangers, people looking to maximize profits. there have been excesses in the financial world but the who -- whole housing mess that started with fannie mae and freddie mac as a result of the u.s. congress i imposing obligation on 55% of all mortgages having to be for people below the minimum -- the median income. people who could not afford many of the homes they bought. >> neil: interesting. so goldman, which might have seen a downturn in housing, took advantage of that and seized on investment opportunities. it wasn't a downturn the financial g...

Mortgage market to heavily influence the mortgage security to include an investment portfolio while telling the other investors that it was selected by an independent third party. goldman says this is unfounded, that they will vigorously contest this. friday was the fraud charge. it is still ricocheting around the world. futures are expected to be lower. wall street is unnerved by all of this. >> and we have something that's jermaine to all of this. >> $36 million. $36 million a day. >> is how much goldman sachs made in 2009. so goldman was printing money as the rest of the world is reeling. n...

But stopping this, you have to stop this at its root. you have to get people designing these things not to want to do them because there is too much risk involved because they have their own net worth on line. at the moment, that's not the way it works. i think in this case goldman sachs may have outsmarted itself. i think there's going to be a lot of evidence to shows they did do the proper disclosure. . it may not matter because they are now subject to headline risk as opposed to really this narrow issue of disclosure that the sec is building its case on. >> i think that's a good point. the ...

Years since that happened. thanks so much, jim. 32 minutes past the hour. all eyes are on the fate of goldman sachs. after the got filed civil charges against the bank accusing it of fraud, goldman has been the target of public outrage after getting a bailout then turning a profit a year later. diane brady and william cohen, contributor at the daily beast.com. thanks to both of you for being with us. as we talk about goldman sachs emerging some would say unscathed from the bailout. then they ended up earning 13 billion last year, now facing the fraud charges. what is the sec alleging happened ...