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Goldman Sachs Chief Lloyd Blankfein Gets $15M Pay Award

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http://www.bbc.co.uk/news/business-12316309

Wall Street firm Goldman Sachs Group has tripled the base salary of chief executive Lloyd Blankfein to $2m (£1.3m), up from $600,000.

And company filings show he was also awarded shares currently worth $12.6m, a 42% hike from the the stock bonus he received for 2009.

It comes even after the bank's profit fell 38% in 2010 to $8.35bn.

Banks were pressed to reduce bonuses in 2009 after the 2008 global economic collapse, largely blamed on bankers.

........

"A $600,000 salary is low for an CEO of a public company, and lifting the base salary is logical and consistent with what is happening elsewhere," said Rose Marie Orens, a compensation consultant at Compensation Advisory Partners.

Profits down salary up, profits up salary up.

Got to love the incentive system here, although one wonders what sort of profit would have been returned if it wasn't for the generous taxpayers of the world supporting the financial system and all of the free money being given to the banking system by our very nice central bankers.

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Sometimes I feel we are being deliberately provoked into action, for whatever reason that may be.

There is just no justification for this type of reward for failure. We often think of criminals as those at the bottom of society, too lazy and stupid to earn an honest living. Now we have 'clever' criminals in suits seemingly operating fraud at the very top and continually getting away with it. There simply must have been laws broken by some of these bankers to get to where we are today. We're seeing the odd mortgage broker banged up here and there but this is small fry. Are there no decent people in positions of power with the will to go after them?

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Guest UK Debt Slave

Sometimes I feel we are being deliberately provoked into action, for whatever reason that may be.

There is just no justification for this type of reward for failure. We often think of criminals as those at the bottom of society, too lazy and stupid to earn an honest living. Now we have 'clever' criminals in suits seemingly operating fraud at the very top and continually getting away with it. There simply must have been laws broken by some of these bankers to get to where we are today. We're seeing the odd mortgage broker banged up here and there but this is small fry. Are there no decent people in positions of power with the will to go after them?

I agree strongly with your first sentance

By provoking a violent response, the elites can abandon the pretence of 'social democracy'

I believe this may indeed be their intention. They KNOW that 'engineered consent' is NOT tenable under these circumstance for much longer. Witness events in Tunisia, Egypt, Greece.

The Irish have been disappointingly supine so far.

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  • 311 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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