Goldman Sachs Ready to Hand Out £7bn Salary and Bonus Package ... After its £6bn Bailout
Goldman Sachs is on course to pay its top City bankers multimillion-pound bonuses — despite asking the U.S. government for an emergency bail-out.
The struggling Wall Street bank has set aside £7billion for salaries and 2008 year-end bonuses, it emerged yesterday.
Each of the firm's 443 partners is on course to pocket an average Christmas bonus of more than £3million.
The size of the pay pool comfortably dwarfs the £6.1billion lifeline which the U.S. government is throwing to Goldman as part of its £430billion bail-out.
As Washington pours money into the bank, the cash will immediately be channeled to Goldman's already well-heeled employees.
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Goldman Sachs Ready to Hand Out 7bn Salary and Bonus Package
Friday, December 19, 2008
So awesome that we bailed them out...
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