The rumor at the World Economic Forum at Davos is that Goldman Sachs (GS) could pay its chief executive Lloyd Blankfein a bonus of up to $100 million.
According to The London Times,” [Bankers] understood that Lloyd Blankfein and other top Goldman [execs] outside Britain were set to receive some of the bank’s biggest-ever payouts.”
“This is Lloyd thumbing his nose at Obama,” a banker from a rival company told The Times.
Last week Obama called the mega-bonuses paid by some banks “the height of irresponsibility” and “shameful.”
Blankfein was paid a record $67.9 million in 2007–Goldman’s 2009 profit was $1.8 billion higher than in 2007, which leaves the world’s richest investment bank with a justification or at least with some sort of political cover for paying its CEO a bigger bonus in ’09.
Goldman declined to comment on Blankfein’s compensation, but the bank, notes The Times, will reveal the pay of its top five earners in a filing with the SEC by the end of next month.
Lloyd B. has raked in a whooping $400+ million over the past 3 years as Goldman’s CEO. Now that’s some serious pocket change.