Monday, January 11, 2010

Mixed news for bankers' wallets

Posted By on Mon, Jan 11, 2010 at 1:57 PM

Goldman Sachs is in the news for its plan to pay out record bonuses while our national economy limps along toward "recovery." But, they're also planning to force their executives to donate a percentage of their bonus to charity.

As it prepares to pay out big bonuses to employees, Goldman Sachs is considering expanding a program that would require executives and top managers to give a certain percentage of their earnings to charity.

The move would be the latest in a series of initiatives by Goldman to soften criticism over the size of its bonuses, which are expected to be among the largest on Wall Street, bringing average pay to about $595,000 for each employee — with far higher amounts for top performers.

Read the rest of this New York Times article, by Louise Story, here.

In related news from The Charlotte Business Journal: BofA ready to pay big bonuses

Also, from NPR: 2009 ends with fewer banks

And, from The Daily Beast: Obama to slap fee on banks

More on bank bonuses from CBS:

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