To The Bald Bankers Go The Spoils

February 2nd, 2010 by alyx · 1 Comment · goldman sachs

OMG SCANDAL! Lloyd Blankfien of Goldman Sachs may be a ONE HUNDRED MEEEEEEELION DOLLAR man:

The Times of London reported on Monday that Blankfein could receive a bonus of up to $100 million, thumbing his nose at President Barack Obama and his recent crackdown on the banking industry. The newspaper cited bankers who were in Davos, Switzerland, for the World Economic Forum as its sources.

$GS spokesfolk: no comment. Blankfein raked in almost $68 million in 2007, and quite sensibly took no bonus for 2008.

Meanwhile, at Davos, a gambling man was willing to put a few bucks on Lloyd’s ouster:

A separate report in the Wall Street Journal said at least one unnamed London banker in Davos was willing to wager millions of pounds that Blankfein, a staunch defender of Wall Street, would be out of a job within two years — an anecdote that [Goldman spokesman Lucas] van Praag called “effluent.”

“Effluent” means “poopies,” which is also what regulators want the banks to do in their diapers when they think about giving their employees bonuses, though that obviously ain’t happening at $GS. The company allowed almost 1000 employees to take home $1 mil + in scratch in 2008 and for 2009, even if Lloyd isn’t going to hit the $100 mil figure, speculation is that he’ll take home around $40 mil, with another $20 mil each going to David Heller, Harvey Schwartz, Edward Eisler, and Pablo Salame, who oversee the fixed income, currency and commodities trading units that brought in over $23 bil in revenue.

And after taking that to the bank, I doubt he’d even care if he was out on his tuchus in two years.

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One Comment so far ↓

  • lavacake

    And this is the company that was donating only 1 million dollars to Haiti (at least that’s what I read 2 weeks ago). That’s probably the cost of toilet paper in Blankfein’s office.

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