November 12, 2007
As bad as the subprime mess has become for all of us, some people are getting very, very wealthy. While big boys like Merrill and Morgan Stanley have had to take huge write downs, the boys at Goldman Sachs have been awfully quiet. I wonder if it has anything to do with their bonuses??? Their CEO, Lloyd Blankfein is due to receive a $75 million bonus while their co-presidents (yes, they have two), Gary Cohn and Jon Winkelreid will both be receiving $70 million each!!!
How much you want to bet that the lead shoe will drop as soon as they cash their checks???
If they have to write off billions, their bonuses might only be a few million.... poor babies...
Pete
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