Goldman Sachs Tries To Contain Rumors Of Huge Bonuses

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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By Jen Chung in News on June 22, 2009 2:00 PM

Comments [rss]

r1b2

C'mon, kids, you didn't REALLY think anything was going to change, did you?

longacre

The time to change the rules was when these institutions had their backs against the wall. If they didn't do it then, there's no way it's happening now.

NannyState

Market's down 200 points today. Better make that wine Yellowtail...again.

contro

http://www.goldmansachs666.com

valeriob

That is the most inaccurate, exaggerated, and unsourced website I've ever seen. It's clearly run by uneducated gorillas that have no grasp of finance or the interbaubbleblogs.

I would rather share a scoop of soft serve with Michael Moore on a hot summer day than read more of that garbage.

contro

You should read a little deeper into the website, my kind sir.

JacqueMehoff

thanks for that link. the more we know, the better.

instead of being shouted down which is what the other side loves to do.

books

you people defending multi-millionaries are idiots - the only way any of these people are worth this money is by manipulating the system that pays them at the expense of workers, shareholders and the public.

all your jobs are going overseas. all your retirement benifits are disappearing. you cant have healthcare if you dont pay for it yourself....who do you think is benifiting from all the things that you used to have and not have to fight for to keep. yes the rich. wake the fck up.

BlueFairlane

All your base are belong to us.

felixthecat2

Right on and the idiots are the one volunteering for Bloomberg' reelection campaign. The richest man in the city has people volunteering for him. what a bunch of idiots.

longacre

Not really clear what Bloomberg has to do with this.

JacqueMehoff

you know me, you down with OPP?

JacqueMehoff

caught bloomturd's new ad today on how he made sure women have access to abortions. umm, excuse me, we live in NYC no one is denied their choice. we are not in TN.

way to grasp at straws. how bout say he flip flopped to get on the ballot to win his first term and flipped back and flipped back and flipped back.

EastRiver

This wins Non Sequitur Of The Day.

valeriob

There's a reason why GS is #1. They bust their asses, work 70 hr weeks, and they know when/how to pull out of risky financial instruments.

I don't have a problem with this.

valeriob

+1

The Edge

Pics or it didn't happen.

hotstepper

anti-capitalist agi-prop featured in the Guardian...no way!

Rocknrope

Rich getting richer, tell me something I don't know.

Kojak

As long as they spend a good portion of those bonuses in NY, I couldn't care less. We need those tax revenues. Gimmie

nicemarmot

Oh give me a break. These guys won't find out their numbers until December. Even if they're doing great now, it won't matter if they lose it all again before then. You don't calculate bonuses based on what you made in the first half of the year.