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IDemo

(16,926 posts)
Thu Jul 16, 2015, 09:34 PM Jul 2015

Goldman Sachs' bankers set to share £5.3BILLION in pay and bonuses despite profits slump

Source: Mirror

Mega bank Goldman Sachs has set aside £5.3billion for six months of staff pay and perks – despite profits slumping.

The massive sum in salaries and bonuses and other benefits equates to more than £150,000 for each of the Wall Street giant’s 34,900-strong worldwide ­workforce, with some high-flying bankers pocketing a much bigger share than that.

The US-based investment bank employs around 5,500 people in the UK.

Headed by chief executive and chairman Lloyd Blankfein, it made £670million in the three months to the end of June – but that was down by 53% on the same period last year.



Read more: http://www.mirror.co.uk/news/business/goldman-sachs-bankers-set-share-6083020

21 replies = new reply since forum marked as read
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Goldman Sachs' bankers set to share £5.3BILLION in pay and bonuses despite profits slump (Original Post) IDemo Jul 2015 OP
Well, the U.S. is their country. They own it. They can do whatever they want. valerief Jul 2015 #1
How much of that did they steal from the Greeks? hobbit709 Jul 2015 #2
There is a slight bright side dixiegrrrrl Jul 2015 #19
Hideous. (nt) enough Jul 2015 #3
I wish Lloyd Blankfein SamKnause Jul 2015 #4
You guys just don't understand. If they don't pay top dollar to the best and brightest, then Chakab Jul 2015 #5
+1 n/t LittleGirl Jul 2015 #6
Capitalists are evil. God told me so. eom DirtyHippyBastard Jul 2015 #7
hedge funds hill2016 Jul 2015 #8
Should be the pic on every SNAP benefit card, to remind people where this government sent their jtuck004 Jul 2015 #9
I wish you had given some notice. Alkene Jul 2015 #10
Not the Onion? moondust Jul 2015 #11
They are the real criminals in our society. Initech Jul 2015 #12
Is that more or less than they paid with higher profits last year? (nt) Recursion Jul 2015 #13
???? heaven05 Jul 2015 #14
"even when we lose we win!" MisterP Jul 2015 #15
I so hate those guys. smirkymonkey Jul 2015 #16
A Pot of Gold Awaits... Octafish Jul 2015 #17
money can't buy hap-enis olddots Jul 2015 #18
Meanwhile people in Greece are struggling for survival copernicusrev Jul 2015 #20
Blankfein, architect of CDOs and credit default swaps bringing US down in 2008 wordpix Jul 2015 #21

dixiegrrrrl

(60,010 posts)
19. There is a slight bright side
Fri Jul 17, 2015, 09:03 PM
Jul 2015

Huge chunks of that money is on stock and stock options
which has value only as long as the banks continue their pump and dump to make paper profits.
Even a 1% down turn erases enormous amounts of "money" from the value.

In other words, we need another Lehman Bros. to enter the picture.

Downside....it will be so much worse for everyone when it comes.

SamKnause

(13,108 posts)
4. I wish Lloyd Blankfein
Thu Jul 16, 2015, 09:50 PM
Jul 2015

would choke on a wad of $100 dollar bills;

and Jamie Dimon to.

Disgusting, evil, greedy, bandits.

 

Chakab

(1,727 posts)
5. You guys just don't understand. If they don't pay top dollar to the best and brightest, then
Thu Jul 16, 2015, 10:16 PM
Jul 2015

they'd have to hire less talented people to create worthless financial instruments and crash the world economy.

 

jtuck004

(15,882 posts)
9. Should be the pic on every SNAP benefit card, to remind people where this government sent their
Thu Jul 16, 2015, 11:33 PM
Jul 2015

money as they run out of food.

If this is too painful, Timothy "Killer" Geithner would fit just as easily.

moondust

(20,002 posts)
11. Not the Onion?
Fri Jul 17, 2015, 01:21 AM
Jul 2015

Are these absurd salaries and bonuses for half as much productivity coming out of cash parked in offshore accounts to dodge taxes or what?

Meanwhile, their Greece account and the Greek people...

MisterP

(23,730 posts)
15. "even when we lose we win!"
Fri Jul 17, 2015, 01:50 PM
Jul 2015

actually that's the main threat of financialization--not even that it just sends all the jobs to China but that the corporate raiders and 401k managers make more dinero wrecking a company and betting it'll fail, or just dismembering it and firing everyone: the old capitalists made money by manufacturing and by milking poor neighborhoods and the Third World, but now we have a real derivatives problem bouncing over our heads ('coz it's a bubble, get it!)

 

smirkymonkey

(63,221 posts)
16. I so hate those guys.
Fri Jul 17, 2015, 07:01 PM
Jul 2015

There are no words to describe it. If there was ever a face desperately in need of a fist, it would belong to Blankfein.

Octafish

(55,745 posts)
17. A Pot of Gold Awaits...
Fri Jul 17, 2015, 07:50 PM
Jul 2015


Neil Barofsky Gave Us The Best Explanation For Washington's Dysfunction We've Ever Heard

Linette Lopez
Business Insider, Aug. 1, 2012, 2:57 PM

Neil Barofsky was the Inspector General for TARP, and just wrote a book about his time in D.C. called Bailout: An Insider Account of How Washington Abandoned Main Street While Rescuing Wall Street.

SNIP...

Bottom line: Barofsky said the incentive structure in our nation's capitol is all wrong. There's a revolving door between bureaucrats in Washington and Wall Street banks, and politicians just want to keep their jobs.

For regulators it's something like this:

"You can play ball and good things can happen to you get a big pot of gold at the end of the Wall Street rainbow or you can do your job be aggressive and face personal ruin...We really need to rethink how we govern and how regulate," Barofsky said.


CONTINUED... http://www.businessinsider.com/neil-barofsky-2012-8



"Integrity is for paupers." -- traditional saying, ABCNNBCBSFixedNoiseNutworks
 

copernicusrev

(44 posts)
20. Meanwhile people in Greece are struggling for survival
Sat Jul 18, 2015, 09:30 PM
Jul 2015

after Goldman stole their money. The whole game is rigged. The world is in serious trouble with people like this robbing us all.

wordpix

(18,652 posts)
21. Blankfein, architect of CDOs and credit default swaps bringing US down in 2008
Sun Jul 19, 2015, 02:18 PM
Jul 2015

along with Hank Paulson, Geithner, Greenspan, and BushCo in general---these guys never go to jail or get fined or get their ill-gotten gains redistributed to the investors who lost everything.

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