Skip to comments.Good ol' bonus days are back for Goldman
Posted on 01/29/2011 3:15:40 AM PST by Liz
Goldman CEO Lloyd Blankfein bagged a $14.6M compensation package.....including stock awards, which were also paid to other top executives. Blankfein also got a 230% bump in his base salary to $2M, up from $600,000 since 2007....excluding private jets, cars and other perks. CFO David Viniar, COO Gary Cohn and Vice Chair Michael Evans received identical boosts, with each hauling in $1.85M annually. Blankfein's pay in the halcyon days of 2007, was $67.9M. Other firms have been hiking base pay at a time when regulators are mulling new rules for Wall Street pay.
(Excerpt) Read more at nypost.com ...
Goldman Sachs Will Be Sitting Pretty With Emanuel in the Obama White House
By Timothy P. Carney, Examiner Columnist, Nov 21, 2008
EXCERPT Today, in these tumultuous times of bailouts and meltdowns when the investment banking leviathan needs Washington more than ever before, Goldman Sachs can leverage its most valuable asset yet White House chief of staff Rahm Emanuel.
Traditionally a Democratic booster, and one of Barack Obamas top sources of funds in this past election, Goldman has always had particularly strong allies in government.
Rahm Emanuel is one such ally. An interesting early chapter in the Goldman-Emanuel relationship took place in the setting of Bill Clintons 1992 campaign for the White House. Clinton hired Emanuel as his chief fundraiser.At the same time, however, Emanuel was on the payroll of Goldman Sachs, receiving $3,000 per month from the firm to introduce us to people, in the words of one Goldman partner at the time. This is certainly a noteworthy relationship, but its one that has almost entirely escaped scrutiny. (snip)
In his four terms in Congress, Emanuel raised $74,750 from Goldman, making the firm his number four source of funds. Goldman has helped Emanuel. How has Emanuel helped Goldman? The most obvious answer, as mentioned in this column two weeks ago, is in Emanuels lead role in shepherding the $700 billion bailoutfirst proposed by former a Goldman CEO, Bush Treasury Secretary Henry Paulsonthrough the skeptical House.
Of course, back in the Clinton days, Goldman benefited from NAFTA and the bailout of the Mexican currency, with Emanuel pushing NAFTA through Congress, and Rubin hammering out the peso bailout.
Did Goldman improperly funnel money to the Clinton campaign by subsidizing Emanuels salary in 1992? Did Goldmans help to Clinton spur the Democratic president to push NAFTA and the Mexican bailout?
The answers to these questions are opaque, and with Emanuel burrowed deep within the Obama White House, the continued relationship between Goldman Sachs and Obamas right hand man wont be easy to follow.
Watch which regulations of Wall Street Obama fights for. Watch where the bailout money goes.
SOURCE http://www.washingtonexaminer.com/opinion/columns/TimothyCarney/ Goldman_Sach_Will_Be_Sitting_Pretty_With_Emanuel_in_the_Obama_White_House_112108.html
Awwwww, isn’t this sweet?
Both adminisrtaions had/have Goldman people in key policy positions. —it always benefits Goldman. They made out well on AIG, I think Palin and the tea party are such a threat because an out of network person may try and put an end to it.
It seems that Goldman owns a good chunk of both parties, no matter who is in the white house they have their hands in the tax payers pocket.
Every time I read stuff like this, it just ticks me off. All the older people lost their retirement funds.
The younger folks lost the savings they had in education funds for their kids.
We’ve all earned zero to nearly nothing on savings for several years now while paying fees for everything.
Our kids can’t get a job.
The new GM earned profits soon after our stock was declared worthless in the old GM.
Ford had the biggest profit in 10 years.
Chase and other big banks are pulling in bigger profits than ever before.
Insurance premiums are the biggest chunk out of our budget.
I know old folks who are paying medical expenses and supplemental insurance premiums before eating.
There’s talk every day of states and pension funds and social security going bankrupt.
And we the people are just standing around saying, “oh well.” When are we going to say, NO?
It’s just a NYC bailout, without taxes on bonuses the city is screwed. They have lived off Wall St. salaries for years.
I am surprised at all the populists on a Conservative website. These replies look like what I’d expect to find at DU or Huff sites.
“I am surprised at all the populists on a Conservative website.”
I’m surprised that anyone would support goldman sucks (Lloyd lifelong Democrat)or any of the too big to fail bank socialists we had to bail out especially knowing who they donated too. Socialism is socialism whether it’s for obama’s backers at the banks or not.
Baracks Wall Street Problem is Now Americas
JPMorgan CEO Jamie Dimon Donates Serious Cash to Democrats
JPMorgan Chase Asked to Stop Funding ACORN
The Delicious Jamie Dimon: Obama’s “Favorite Banker”
“Blankfein, a lifelong Democrat, probably falls into the camp of Masters of the Universe who will quietly continue to support the president but won’t make many public comments or host big fundraisers.”
Just wonderful while the Fed’s printing once again props up his pals in the markets the elderly who did the right thing and saved their money are being eaten alive with inflation and a pittance in interest after losing a lot of their money because of these piggy bankers at the TBTF banks. Just think how sweet a deal that was they are rolling in the dough while hundreds of our smaller conservative banks failed taking jobs with them.
Fed siphons $100 billion from savers
Let's not mention the nearly $16 billion they paid in income taxes since 2007, it might detract from the bashing.