ANDREW ROSS SORKIN, The New York Times,
Submitted by: Editor
Goldman Sachs Plans to donate $1 Billion to Deflect Criticism for 2008 Bonus Pool of $23 Billion
To put that $23 billion bonus pool number in perspective, it is the most Goldman Sachs has accumulated for bonuses in its history — twice as much as in 2008. And it is doing so while memories are still fresh that just a year ago taxpayers had to step in when Wall Street, and even Goldman, were facing a run on the bank.
“Compensation continues to generate controversy and anger,” Lloyd Blankfein, the chief executive of Goldman Sachs, said in September. “And, in many respects, much of it is understandable and appropriate.” [NYT]