There’s one thorny issue at one bank dodged for this year. Top Goldman (GS) brass won’t get bonuses for 2008, a spokesman told WSJ.
The executives, including firm Chief Executive Officer and Chairman Lloyd Blankfein, asked the board’s compensation committee that they receive no bonus and the board Sunday approved the request. As a result, the executives will only be eligible for their base salaries, $600,000 for each of the seven executives. In 2007, Mr. Blankfein took home $68.5 million in cash and stock.
“Our senior officers decided on this course of action because they believe it is the right thing to do,” the spokesman said.
Still, there’s all the Goldman underlings who will get bonuses. Well-bonused Wall Streeters get the tsk tsks in the best of times. We can’t wait to see the reaction this time around.
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