Earlier on Bloomberg TV, Pay Czar Kenneth Feinberg said that Lloyd Blankfein’s bonus is indeed excessive, but at the same time, Goldman Sachs is technically following his advice.
“Clearly, Goldman is following the prescriptions I’ve laid out. Mr. Blankfein’s getting very low base cash salary and his total comp is again tied up in long-term stock, the value of which cannot be determined, or transferred, for about five years. That is the type of compensation we’re looking for where value is tied to the total performance of the company itself.”
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