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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsGoldman Sachs trader sues over skimpy $8.25 million bonus
A former Goldman Sachs (GS) trader, still furious at getting only an $8.25 million bonus in 2010, has taken the giant investment bank to court to get paid millions more.
Deeb Salem says he helped Goldman earn more than $7 billion and that a little more money in his pocket would only be fair considering all his contributions. He wants about $5 million in additional pay from Goldman.
In his petition filed last week in New York's State Supreme Court, Salem said things at Goldman started to unravel when he got a written warning about his 2007 job self-evaluation, Bloomberg reports. In that self-evaluation, Salem reportedly discussed a short squeeze involving derivatives linked to subprime home loans in 2007.
His own words were later used by U.S. Senators investigating whether Goldman bet against the mortgage market in 2006 and 2007 in such a way that helped it reap massive rewards as the housing sector tanked.
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http://www.cbsnews.com/news/trader-sues-over-skimpy-8-25-million-bonus/
hobbit709
(41,694 posts)Talk about a sense of entitlement.
myrna minx
(22,772 posts)Zenlitened
(9,488 posts)Sadly.
maced666
(771 posts)I don't begin to understand how these traders and hedge funds produce...anything. I just know they are all filthy rich.