Don’t say that we weren’t warned. We were warned repeatedly.
So, while disgusting, this comes as no surprise:
When the nation’s chief financial officers begged Congress for $700 billion of taxpayer money, they said it was about saving banks. They didn’t say anything about saving bonuses.
Despite monumental losses, some Wall Street firms will still be giving out big bonuses this year — even firms that were bailed out by the government.
Goldman Sachs, which accepted $10 billion in government money, and lost $2.1 billion last quarter, announced Tuesday that it handed out $10.93 billion in benefits, bonuses, and compensation for the year.
Goldman Sachs noted that the figure is down 46 percent from a year ago and that seven of its senior executives are forgoing bonuses this season.
“Bonuses across Goldman Sachs will be down significantly this year,” a bank representative told ABC News. The spokesman refused to disclose the size of the bonus pool or how much of the compensation fund of $10.93 billion was planned for bonuses, but some employees are reportedly being given more than $200,000 in cash.
Make them give it back or make this company go into bankruptcy.
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