No Cash Bonuses for Top Goldman Sachs Brass

Thursday, December 10, 2009

It's not quite a lump of coal in their stockings this Christmas season, but for Goldman Sachs' top  executives, it's the next worst thing -- no cash bonuses this year.  Goldman says that, instead of cash, its 30 high-ranking executives will receive stock that cannot be sold for at least five years, as the Wall Street giant bows to criticism over its pay practices.  But the measures will not affect Goldman's other 31,000 employees, including top traders who are likely to be handsomely rewarded for helping Goldman Sachs turn profits this year.   Politicians have chastised Wall Street bankers for taking excessive risk, which resulted in big bonuses but also helped lead to the credit crisis and recession.


More in:

News, weather, Radiolab, Brian Lehrer and more.
Get the best of WNYC in your inbox, every morning.

Leave a Comment

Register for your own account so you can vote on comments, save your favorites, and more. Learn more.
Please stay on topic, be civil, and be brief.
Email addresses are never displayed, but they are required to confirm your comments. Names are displayed with all comments. We reserve the right to edit any comments posted on this site. Please read the Comment Guidelines before posting. By leaving a comment, you agree to New York Public Radio's Privacy Policy and Terms Of Use.


Latest Newscast




WNYC is supported by the Charles H. Revson Foundation: Because a great city needs an informed and engaged public


Supported by