[DanDaMan]

What To Do With Your Goldman Sachs Bonus
Investment Firm Goldman Sachs Reported the Largest Profit in Wall Street History
By MARY KATHRYN BURKE and ELIZABETH KOLLEENY
Dec. 13, 2006

It was reported today that Wall Street's famed investment bank Goldman Sachs will be shelling out over $16 billion in bonuses this holiday season -- an average of over $600,000 per employee.
Many of those bonuses will be performance-based, so some of the company's bigwigs are likely to get as much as $100 million

.....
http://abcnews.go.com/Business/FunMoney ... id=2723990

[ninurta]

Interesting, no comment though. A little premature to say how long they'll last.

[NYYS]

As much as I love reading about financial companies making billions, clearly my tax dollars didn't need to go towards this.

[Gitana]

The article is from 2006.

?

[Infidelis]

The article is from 2006.

?

That's the point he's trying to make. They made so much that they could give out huge bonuses in '06 an then they needed to be bailed out. Either he's saying they mismanaged their money and deserved to fail or that they did better with out an intervention, or he's just being an asshat. Hard to tell.

[Wolfman]

Either he's saying they mismanaged their money and deserved to fail or that they did better with out an intervention, or he's just being an asshat

Answered.

However, the reason they failed is because they mismanaged there funds. One of the numerous reasons I support Autogestion.

[Gitana]

That's the point he's trying to make. They made so much that they could give out huge bonuses in '06 an then they needed to be bailed out. Either he's saying they mismanaged their money and deserved to fail or that they did better with out an intervention, or he's just being an asshat. Hard to tell.

Ah, ty. I must be having a thickheaded night.

[NYYS]

The article is from 2006.

ha, I didn't actually catch that. I thought he was referring to their earnings report from yesterday (something on the order of $4.93/share), which blew away the analyst estimates. The average Goldman employee is on pace to make over $900,000 this year.

[DanDaMan]

Doh! My bad!
Thanks for catching that! (I thought Google wouldn't put such an old story at the top of the list)
Here... it gets MUCH better!

Originally published Wednesday, July 15, 2009 at 12:00 AM
NEW YORK — Even on Wall Street, the land of six- and seven-figure incomes, jaws dropped at the news Tuesday: After all that federal aid, a resurgent Goldman Sachs is on course to distribute bonuses that could rival the record paydays of the heady bull-market years.

Goldman posted the richest quarterly profit in its 140-year history and, to the envy of its rivals, announced it had earmarked $11.4 billion so far this year to compensate its workers.

At that rate, Goldman workers could, on average, earn roughly $770,000 each this year — or nearly what they did at the height of the boom.
http://seattletimes.nwsource.com/html/b ... arn15.html

A little premature to say how long they'll last.

A very very long time!
They have old employees working for Obama & Geitner.
And they are into 10% of the Cap & Trade bill. So they will make BILLIONS when Obama passes the bill for them.

[ninurta]

Well, chryseler (either them, ford or chevy forgot which) had to be bailed out and were successful for a long time, until this recession. I doubt they learned their lesson, and I betcha they may with time need more of my money to bail them out so I can feed the dying beast more of the food off my table before i get the money to buy it.

[legalboxerbriefs]

One imagines that the "average" figure is pretty deceiving: the obscene salaries of those at the top of the corporate food chain will skew the average and make it appear as if employees will be making far more than they actually are. The reality is that the wealthy are rewarding themselves, regardless of their actual performance -- back to business as usual, I guess.