Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook

'Serpent Pastor' Dies of Snake Bite Mack Wolford believed faith compelled him to face the risk »

Feds Probe Goldman's Pay Practices

By Rob Quinn, Newser Staff

Posted Aug 6, 2009 8:00 AM CDT

(Newser) – Federal agencies are taking a close look at Goldman Sachs' pay practices and use of credit instruments as the firm's profits rebound to record-breaking levels, the Los Angeles Times reports. The company, which says it is complying with the dual investigations, has paid back its... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

1 comment

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

'Serpent Pastor' Dies of Snake Bite

Miami Face-Eater Identified

Los Angeles Times (Source Grid »)

Money

executive compensation • Goldman Sachs • derivatives market • Troubled Asset Relief Program • financial crisis • TARP

More Newser Stories

TARP-Funded Banks Kept Awarding Bonuses

Firms paid more than they made: Cuomo

(NEWSER) - The financial crisis and government bailouts did little to change Wall Street’s executive compensation habits, New York's attorney general says. All nine banks given assistance by TARP paid out bonuses in 2008—well before any paid back government loans, according to a survey ordered by Andrew Cuomo. Goldman Sachs, Morgan Stanley, and JPMorgan Chase actually paid more in bonuses than the firms made for the year, the Wall Street Journal reports. More»

Three Big Banks Apply to Repay TARP Funds

Goldman, JPMorgan, Morgan Stanley want out of pay restrictions

(NEWSER) - Goldman Sachs, JPMorgan Chase, and Morgan Stanley have applied to repay a combined $45 billion of TARP funds, Bloomberg reports. The three banking giants must receive permission from the Fed before returning the money. The repayments would be the most substantial since Congress established the $700 billion program, and will allow the banks to escape restrictions on compensation and hiring. More»

Bailed-Out Bank Execs Made $1.6B Last Year

Execs made average of $2.6 million; Merrill Lynch CEO made $83 million

(AP) - Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an AP analysis reveals. Benefits at bailed-out institutions like Goldman Sachs, Merrill Lynch, and JPMorgan Chase included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships, and professional money management. More»

Final Bailout Tab: $29B

Bank bailout is highlight of latest accounting

(NEWSER) - So it's not exactly zero, but the $388 billion the feds dumped into bailouts is going to end up with a final price tag of ... $29 billion, reports the New York Times. Most of Treasury's losses are focused in housing rescues ($46 billion) and the Detroit bailout ($17 billion), while other segments of TARP actually reaped profits—like the $22 billion feds expect to pocket when they sell their stake in AIG. More»

Bailout May End Up Costing $0

Despised TARP expires Sunday

(NEWSER) - The terms "$700 billion" and "bailout" are paired as often as "Tea" and "Party," but it turns out that the government lifeline to banks and auto firms will only cost taxpayers a fraction of what was originally predicted. The hugely unpopular Troubled Asset Relief Program—TARP—expires on Sunday, and Treasury officials say the program will cost the government $50 billion at most—and possibly nothing. AIG , the largest beneficiary, yesterday announced a plan to start paying the government back. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Feds Probe Goldman's Pay Practices

executive compensation • Goldman Sachs • derivatives market • Troubled Asset Relief Program • financial crisis • TARP

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

TARP-Funded Banks Kept Awarding Bonuses

Firms paid more than they made: Cuomo

Three Big Banks Apply to Repay TARP Funds

Goldman, JPMorgan, Morgan Stanley want out of pay restrictions

Bailed-Out Bank Execs Made $1.6B Last Year

Execs made average of $2.6 million; Merrill Lynch CEO made $83 million

Final Bailout Tab: $29B

Bank bailout is highlight of latest accounting

Bailout May End Up Costing $0

Despised TARP expires Sunday

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?