Constructive gadfly

In browsing: "Pension Fund and Illinois shareholder Ken Brown alleges that Goldman's much-criticized compensation plan is not structured in the best interest of shareholders.... Citing New York Attorney General Andrew Cuomo's July report, Brown's lawsuit states that "Goldman earned $2.3 billion, paid out $4.8 billion in bonuses and received $10 billion in TARP funding." The lawsuit argues that the bank's 2008 bonuses were subsidized with taxpayer money. At issue in both lawsuits is whether or not Goldman Sachs's bonuses -- including those from 2008 and the bonuses it plans to pay out in 2009 -- are artificially inflated by the government's assistance. The bank, which says it has set aside a record $16.7 billion for employee compensation thus far this year,or roughly $700,000 per employee.

Easy come, easy go.

 


Comments
on Jan 09, 2010

But the beauty is - you can stop them!  Dont patronize them, and their money dries up, and no bonuses!

Until the government gets involved and removes your choice in the matter and props up bad decisions.

on Jan 12, 2010

Big money never dries up.

on Jan 12, 2010

stevendedalus
Big money never dries up.

Tell that to Enron.

on Jan 12, 2010

Big money never dries up.

Not if Obama believes it's too big to fail.