Goldman Sachs's bonuses

[AtW]

"Bank plans $15.38bn (£9.6bn) staff reward despite profits in the fourth quarter tumbling by more than half from $4.95bn to $2.39bn.

The best-known bank on Wall Street saw profits for 2010 decline to $8.4bn from $13.4bn in 2009"

Source: Goldman Sachs fourth-quarter profits slide - Telegraph

Just wot the fook is going on here - bank pays out double actual profits? The stuff they pay out is real cash, but who can say that those profits booked were not just accounting adjustments on tulip assets they bought?!?!

Simple way to deal with bank or any other bonuses - they should not be more than 10% than dividends paid to shareholders.

[suityou01]

"Bank plans $15.38bn (£9.6bn) staff reward despite profits in the fourth quarter tumbling by more than half from $4.95bn to $2.39bn.

The best-known bank on Wall Street saw profits for 2010 decline to $8.4bn from $13.4bn in 2009"

Source: Goldman Sachs fourth-quarter profits slide - Telegraph

Just wot the fook is going on here - bank pays out double actual profits? The stuff they pay out is real cash, but who can say that those profits booked were not just accounting adjustments on tulip assets they bought?!?!

Simple way to deal with bank or any other bonuses - they should not be more than 10% than dividends paid to shareholders.

Strategic losses, creative accounting. These guys are a masterclass in financial skullduggery.

[Paddy]

[sasguru]

Quit yer moaning and take your shafting quietly.
If you want a piece of the action join a bank.
And even the worse bank is more socially useful than you, AtW, with your piece of software that will be used simply for marketing purposes.

HTH

[MarillionFan]

Quit yer moaning and take your shafting quietly.
If you want a piece of the action join a bank.
And even the worse bank is more socially useful than you, AtW, with your piece of software that will be used simply for marketing purposes.

HTH

WHS.

At the end of the day, if you want to earn big bonuses then try and get a job at a big bank.

[suityou01]

WHS.

At the end of the day, if you want to earn big bonuses then try and get a job at a big bank.

rob

[AtW]

The point is - real owners of banks: the shareholders, get a raw deal - staff is helping themselves to pay more than they actually earn for real owners, is there any other "industry" that dares to act like this?!?!

[Lockhouse]

The point is - real owners of banks: the shareholders, get a raw deal - staff is helping themselves to pay more than they actually earn for real owners, is there any other "industry" that dares to act like this?!?!

I work in banking and I do have sympathy with this viewpoint. Never thought I'd agree with AtW.

[Freamon]

The point is - real owners of banks: the shareholders, get a raw deal - staff is helping themselves to pay more than they actually earn for real owners, is there any other "industry" that dares to act like this?!?!

Yes, all companies do. Companies only care about shareholders insofar as it benefits the company.

[sasguru]

The point is - real owners of banks: the shareholders, get a raw deal - staff is helping themselves to pay more than they actually earn for real owners, is there any other "industry" that dares to act like this?!?!

If the shareholders don't like it they can always sell, you Soviet buffoon.

HTH