Tag Archives: banks

10 months ago (Dec. 27, 2007):

Investment Banks Dole Out Record $30 Billion in Bonuses
Meanwhile investment bankers are celebrating on Wall Street. Four of the country’s largest banks—Goldman Sachs, Morgan Stanley, Lehman Brothers and Bear Stearns– are expected to dole out an estimated $30 billion in bonuses this year. The CEO of Goldman Sachs, Lloyd Blankfein, is receiving a record $68 million bonus. Last month housing advocates called on the nation’s largest investment banks to donate their holiday bonuses to a foreclosure prevention fund that will help prevent a new wave of foreclosures. NONE of the banks agreed to help set up the fund. Less than a year later, they are set to receive billions in taxpayer funds. Merry Christmas ’08, banking industry!

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