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Goldman Sachs Gives Blankfein $9M Bonus

CEO receives units of stock that can't be sold for 5 years

By M. Morris, Newser Staff

Posted Feb 5, 2010 6:10 PM CST

(Newser) – Lloyd Blankfein's bonus for 2009 is $9 million, Goldman Sachs said today—a nice bump from last year's zero, but a far cry from the $67.9 million the CEO scored in 2007 and from the $100 million he was reportedly expecting. " The firm produced very good results for 2009, but the environment is very difficult and the board was mindful of that difficult environment in making decisions about executive compensation, " a Goldman rep tells Reuters.

" He is going to have a lot of people two levels below him who are making more than he does, " one analyst said of Blankfein, whose bonus came in the form of deferred stock. Also making more: JPMorgan Chase CEO Jamie Dimon, who received a $17 million bonus today, and James Gorman of Morgan Stanley, who scored a mere $11 million, the New York Times reports.

Goldman Sachs CEO Lloyd Blankfein leaves the White House after a meeting, March 27, 2009. (AP Photo/Evan Vucci)

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COMMENTS

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Showing 3 of 30 comments

northeast

Feb 8, 2010 1:50 AM CST

Not a bad idea, they're dirt cheap and the Federal Reserve will always step in to make sure you never lose your investment.

Disillusioned

Feb 6, 2010 12:33 PM CST

Poor fellow, how will he ever survive on such a small pittance? He will have to drastically cut back on expenditures........ Poor poor man. I hope his "manhood" falls off and he turns to dust along with the rest of the criminals who helped destroy a once great country

yummines

Feb 6, 2010 12:28 PM CST

at least its not 67 million? thats like saying that he didnt get a ton of money, he only got a lot of money. either way the fact that his bonus is even 1 million dollars is bugging me. does he really deserve it?

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Wall Street • Goldman Sachs • Morgan Stanley • Lloyd Blankfein • bailout • JPMorgan Chase • Wall Street bailout • Jamie Dimon • James Gorman • Lloyd Blankfein bonus

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(NEWSER) - In the public imagination, Goldman Sachs gives the biggest bonuses around, but this year CEO Lloyd Blankfein’s $9.6 million payday doesn’t even crack the top 10 in the financial industry. Instead, the top spot is occupied by decidedly less famous Wells Fargo CEO John Stumpf, who pulled in $18.7 million, the New York Times reports, and executives from even lesser-known companies dot the list. The head of midsize investment bank Jeffries Group, for example, Richard Handler, will make $13 million. More»

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(NEWSER) - Recession? What recession? Some Wall Street firms are not feeling any pain this year as record bonuses at just three of the top firms are likely to hit an eye-popping $30 billion. Goldman Sachs, Morgan Stanley and JPMorgan Chase, the three biggest banks to be bailed out by the feds, will dish out bonuses to 119,000 workers at an amount averaging $250,000 for each. More»

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Goldman Sachs Gives Blankfein $9M Bonus

CEO receives units of stock that can't be sold for 5 years

OTHER STORIES ON OUR RADAR

Wall Street • Goldman Sachs • Morgan Stanley • Lloyd Blankfein • bailout • JPMorgan Chase • Wall Street bailout • Jamie Dimon • James Gorman • Lloyd Blankfein bonus

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More Newser Stories

Wall St.'s Top Bonuses Go to No-Names

Lloyd Blankfein's pay looks puny compared to John Stumpf's

Obama OK With Fat Bonuses for Blankfein, Dimon

Compares bank CEOs to overpaid baseball players

Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B

Average payout will be five times median household income in US

Goldman's Blankfein Is 'Doing God's Work'

A look behind the scenes at the omnipresent bank

Paulson Still Dogged by Ethics Queries

Ex-Goldman exec coddled firm as Treasury sec, critics say

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Goldman Sachs Gives Blankfein $9M Bonus

CEO receives units of stock that can't be sold for 5 years

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OTHER STORIES ON OUR RADAR

Wall Street • Goldman Sachs • Morgan Stanley • Lloyd Blankfein • bailout • JPMorgan Chase • Wall Street bailout • Jamie Dimon • James Gorman • Lloyd Blankfein bonus

MOST POPULAR STORIES

[ By Views ]

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More Newser Stories

Wall St.'s Top Bonuses Go to No-Names

Lloyd Blankfein's pay looks puny compared to John Stumpf's

Obama OK With Fat Bonuses for Blankfein, Dimon

Compares bank CEOs to overpaid baseball players

Bonuses at Morgan Stanley, JPMorgan, Goldman Hit $30B

Average payout will be five times median household income in US

Goldman's Blankfein Is 'Doing God's Work'

A look behind the scenes at the omnipresent bank

Paulson Still Dogged by Ethics Queries

Ex-Goldman exec coddled firm as Treasury sec, critics say

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Newser By Users

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