It’s a relief to see that, despite the credit crunch, all is right in the world. While the rest of Wall Street was writing off tens of billions in mortgage gambling losses, firing platoons of employees, and slashing annual bonus pools–and while the rest of the economy was teetering on the brink of collapse–Goldman was quietly socking away $20.1 billion in compensation accruals.
That averages out to $661,000 per employee, a much needed raise over last year’s paltry $623,000. Thank goodness for constancy.
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