Goldman Sachs is set to pay Lloyd Blankfein $75 million in stock and cash this December, $20 million more than he took home last year. How groundbreaking. Seriously, a Goldman employee being paid a ton of money, while Bear Stearns tries to cover up the fact that last week it bounced 15,516 checks at the same time, is utterly revolutionary. Personally, even though he claims not to need our pity, we feel sorry for Blankfein. How boring must it be to come into the office every day, push some papers, twiddle some thumbs and know with the highest degree of certainty that you’re going to get a huge bonus, without fail? Wouldn’t it be more fun, or at least more exhilarating, to be constantly wondering, a) Forget about bonus—will today be the day I get fired? B) If I do get fired, how handsomely will I be rewarded for fucking up so badly? A lot or a little? C) Would it be bad if I laced this big bag of pot with some embalming fluid and smoked the whole thing over lunch? Or bad in a good way? That guy’s masking his ennui and we know it.
Goldman CEO In Line For $75 Million Bonus [NYP]
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Goldman Sachs
Goldman Sachs Still Doing The Big Bonus Thing, Boring Lloyd Blankfein To Silent Tears
By Bess LevinComments (14)
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Only thing worse than an overpaid CEO is an overpaid athlete.
11:32 AM
I say Arod for CEO of Citigroup.
By the way, GS hasn’t fully confessed for their Level 3 toxic waste. Their percentage of such stuff is larger than C’s and MER’s. Is that why this guy gets his big bonus?
Maybe yes maybe no, maybe most of it is tied up in GSPS assets and not the same kinds of nonprime garbage that is taking marks streetwide
Right on folks. It’s one thing to condemn someone, but it takes a little more umph to act on such strong conviction! Get to the top of a major corporation and overturn this abhorrent practice. Start by refusing the money once you’re there! Now that will be a news story with some comments worth reading. :)
Hey, Blackstone announced a loss!
Where are you? Anybody home? Where’s the BX post?
BX loss is not news noncash charges are related to the IPO, do you even work on wall street?
Some people just won’t shut up even though they don’t know what they are talking about. Level 3 doesn’t mean toxic waste. It could be worth more than pure gold if it includes short position on synthetic CDOs!!!
dirty sanchez all over BX bagholders, only weak hands didn’t see this coming
While i’m not saying its a good investment, bx is a long-term (at least 3+ yrs) position, by the very nature of its business. Idiot individual investors who are bitching and whining on nyt/wsj blogs are starting to piss me off running their mouths about how much its down.
Did Bear really bounce checks?
It seems you are mocked if you do well, and mocked if you do badly.
I guess mediocrity in performance and pay is the goal.
damit, wished i had brushed up on stupid probability questions before heading to a GS interview, as I would have been in the lucky ranks of GS $’s
you you definitely need to be able to answer questions about the expected value of 3 die rolls in order to succeed in equity syndicate :P
when is GS going to own up? after the bonus?