Wednesday, September 9, 2009

Breaking ranks

Goldman boss calls pay anger 'understandable'

Goldman Sachs' chief executive admitted that anger over bankers' stratospheric pay was largely "understandable and appropriate" and called on rivals to dump multi-year guaranteed bonuses. Lloyd Blankfein said that there was little justification for the payment of outsized discretionary compensation by loss-making banks. Only junior employees should get most of their pay in cash, he said, with the percentage of compensation made in equity increasing with a workers' seniority. Senior executives should be required to keep most of their equity, even if they leave the bank.

Posted by devo @ 11:27 PM (2989 views)
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2 thoughts on “Breaking ranks

  • I think it would understandable and appropriate if he picked up his chair, threw it out of his top floor window and then jumped out after it.

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  • Leave the chair; it’s an asset.

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