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Goldman Sachs Tries To Contain Rumors Of Huge Bonuses
By
Jen Chung
Published Jun 22, 2009
Modified Jun 22, 2009
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By
Jen Chung
Published Jun 22, 2009
Modified Jun 22, 2009
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After The Guardian reported, "Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm's 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms," it was taken as a sign that excess is back. But now the investment firm is denying the report, having its spokesman tell the media, "We won't know what our compensation benefit number is until the end of the fourth quarter, which is at the end of December." The firm did return $10 billion in TARP money to the government, adding in a letter, "Our return of the government's investment does not, in any way, end our obligations to the public interest." We guess we'll have to wait until next January for stories about $1000 bottles of wine and dropping cash on new condos and cars.
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bonus
economy
executive compensation
goldman sachs
rumor
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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