Report: Goldman Sachs on Pace to Pay Out Record Bonuses this Year

Democracy Now, The Guardian by Nomi Prins, Amy Goodman, Juan Gonzalez | Jun. 22, 2009 (News Analysis)

(Video) The Guardian newspaper reports staff at Goldman Sachs 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. We speak to Nomi Prins, a former managing director for Goldman Sachs in New York, about the possible record bonuses, President Obama’s proposed reforms of the ... Full Story »

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4.0
 by Dwight Rousu - Jun. 23, 2009

The discussion jumps around to a lot of related scandals. Important and timely, but does not organize the info in an easy to grasp way.

ten banks said—or were allowed by the Treasury Department to pay back all or a portion of the TARP money they had received. One was Goldman, that had $10 billion; one was JPMorgan Chase, that had $25 billion; and so forth. The collective money of those ten banks was $68 billion they would be paying back. They happen to owe $229 billion. The media didn’t really mention that part.

We also know there are multiple trillions of dollars on the Fed’s books that went out to these and other banks. We don’t know how much, because they will not disclose that information.

Dwight posted this story.
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4.0
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4.0
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4.5
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