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Read it at The Times of London
Goldman Sachs could pay its chief executive Lloyd Blankfein a bonus of up to $100 million, in defiance of President Obama’s insistence that banks limit such huge payouts, according to bankers at Davos for the World Economic Forum. “This is Lloyd thumbing his nose at Obama,” a banker from a rival company told the Times of London. Obama has called the mega-bonuses paid by some banks “the height of irresponsibility” and “shameful.” Blankfein was paid a record $67.9 million in 2007; Goldman’s 2009 profit was $1.8 billion higher than in 2007, which may provide a tiny bit of political cover for a bigger bonus.