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Goldman Sachs (NYSE: GS), which Sunday gained Federal Reserve Bank approval to become a bank holding company, paid its chairman and CEO, Lloyd Blankfein, $70 million last year. Co-Chief Operating Officers Gary Cohn and Jon Winkereid were paid $72.5 million and $71 million, respectively.
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Lloyd, Gary, and Jon would like to thank the taxpayers for their combinied $203,000,000 salaries in 2007, perhaps they will write you a thank you card while traveling 30,000 feet in their private jets. If you look to the sky, you might catch a glimpse of the huge grin on their faces...
Now back to your jobs people, making 365 times less!
While I understand the resentment about executive compensation, I don't think Goldman Sachs is part of the problem. I think they were actually OK.
Yes, now that the taxpayers have changed their broker status to banker status, which carries large risks...the fed has broken all the rules, and the banks, and now brokerages, will benefit in the process:
Goldman Sachs (NYSE: GS), which Sunday gained Federal Reserve Bank approval to become a bank holding company
While I understand the resentment about executive compensation.
Resentment...no, I say they pay for their own mess. Take back the last 5 years of salary for the three executive I mentioned above, and save the taxpayers over $1 billion in the process.
Three smucks run a company in the ground over 5 years, and get over a billion in compensation? No jail time, no fines or court proceedings, only a huge blank check?
Only in America could the rich fleece the lesser off and have the majority thank them in the process. Just remember, "the alternative is worse". Can't wait to get a bumper sticker with that herd mentality government slogan...
CEO salaries are irrelevant. What a Board chose to pay its executives was their business. The real culprits are the Boards. They violated their fiduciary responsibility to their shareholders. They should be picking up the tab, along with their D&O insurer.
There was nothing illegal about their salaries. It showed very bad judgement. If that was a crime, we would all be guilty at one point in our lives.
Corporate boards are make up of CEOs from other corporations, I’d call it “the good old boy system” or just a criminal gang of white collar thugs stealing.
Resentment...no, I say they pay for their own mess. Take back the last 5 years of salary for the three executive I mentioned above, and save the taxpayers over $1 billion in the process.
Three smucks run a company in the ground over 5 years, and get over a billion in compensation? No jail time, no fines or court proceedings, only a huge blank check?
Only in America could the rich fleece the lesser off and have the majority thank them in the process. Just remember, "the alternative is worse". Can't wait to get a bumper sticker with that herd mentality government slogan...
I agree with most of your post except executive salaries for the last five years would be well over a billion....if they just took what those criminals made in the last year as they irresponsibly let their companies FAIL, would cover most of the bailout.
Corporate boards are make up of CEOs from other corporations, I’d call it “the good old boy system” or just a criminal gang of white collar thugs stealing.
I agree and what is so disturbing so sick . Is that we are in 2 wars, Oil prices and everything else high.
The country that has given them so much that they live like Kings,Queens they still "fleece" .
Talk about lack of basic patriotism. Many have become internal parasites which have a vested interest in destroying a company because they walk away with ten's of millions .
Few yrs back Ross Perot said " When a CEO makes more money by destroying a co than having it run smoothly than your better off without a CEO "
I agree with most of your post except executive salaries for the last five years would be well over a billion....if they just took what those criminals made in the last year as they irresponsibly let their companies FAIL, would cover most of the bailout.
Hey Repubs, how does THIS Welfare scam feel ?????
You know Goldman Sachs top 3 execs worked for Democrats? You know that 65% of Sach's political "donations" went to the Dems?
I don't consider this a Rebublican -vs- Democrat issue. It is an American problem which comes from free enterprise. I would like to see all CEO salaries monitored, but it isn't the way we do business here. To make the change to control these salaries only opens up the Pandora's Box to the road of Socialism. This is something we have to carefully weigh out regardless of our disdain of their ridiculous overblown salaries that obviously they didn't have the where-with-all to earn or they wouldn't need to be bailed out. I don't think there is a clear cut answer which is why congress is having such a hard time with the details.
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