Goldman Sachs Boosts Pay For CEO Blankfein, 4 Others

NEW YORK — Goldman Sachs Group Inc. has more than tripled the salary of CEO Lloyd Blankfein to $2 million, and also granted raises to four other top executives.

The investment bank said in a Securities and Exchange Commission filing on Friday that its board's compensation committee set the new base salary for Blankfein, effective Jan. 1. His previous salary had been $600,000.

The committee set salaries at $1.85 million for four other executives. They are Chief Operating Officer Gary Cohn; Chief Financial Officer David Viniar and Vice Chairmen Michael Evans and John Weinberg.

The filing didn't elaborate on the reasons for the raises. The salaries don't include other forms of compensation the executives can receive, such as stock options.

Comments

[mrspiffy]

03:08 PM on 01/31/2011

Precious....give me precious...
http://yieldpig.blogspot.com/

[Ryan Magdangal]

03:06 PM on 01/31/2011

Ah the central bankers who robbed America.. they get paid big time to do it. What a bloody farce!

[ChasG]

02:26 AM on 02/09/2011

"central?"

[Bill Wagner]

11:42 AM on 01/31/2011

Damn criminals. We have been raped. By the way-- Goldman/Sachs is one of the owners of The Fed. Isn't that sweet?

[PrincessAnnie]

09:45 AM on 01/31/2011

I wonder how fast the Lloyd Blankfeins of the world would fold and run with their tail tucked if we all gathered on Wall Street the same way the Egyptians are gathering in Cairo?

Hint: Faster than Mubarek or a lawn chair.

[Bill Roth]

03:39 PM on 01/31/2011

I wonder if we the people could get the day of all meeting declared a national holiday?

[JacksonAndy78]

03:30 AM on 01/31/2011

MAGIC OF LEVERAGED USURY INTEREST: SECRET OF BANKERS WEALTH:

Assume Banks pay 1% interest on deposits. Magically, using the Leveraging System of Bankers, a deposit of $100 in a bank enabled the bank to loan $1,000 at an interest rate of 5%, creating $900 out-of-thin-air. The bank gets 5% of 1,000 or $50 while paying 1% of 100 or $1 ($1 is a small FRACTION of the $50) making about 50 TIMES their COST, obscenely profitable for the banks. This is called Fractional Reserve Banking a POWERFUL FORM of Leveraging and THEFT.

This is the simplest scam Bankers have used for Hundreds of Years!  

The Derivatives SCAMS MULTIPLIES THIS SCAM BY 1,000,000

[McKeaton]

02:25 AM on 01/31/2011

They try to sell a story...two million is nothing compared to 50-60 million they will make, take and spend from stocks and other option...the drug is given in incremental doses...

[TimtheEnchanted]

10:50 PM on 01/30/2011

my wife and I haven't had raises in 4 years.

[catbite]

10:32 PM on 01/30/2011

Throw this bum in jail. Not only did Goldman Sachs make a mess of the derivatives market, but they were in bed with AIG to insure the rotten investments. When are we going to see some justice?

[Lpeter]

07:57 PM on 01/30/2011

What happenned to the follow up for the 2.9 Billion they stole from the tax payers. That story died quickly! Hmmmmm. I wonder?

[Kai-HK]

08:27 PM on 01/30/2011

Probably died because it wasn't stolen. You have to have more than talking points and wishful thinking to convict someone.

[rview]

07:47 PM on 01/30/2011

$2mm is peanuts. How much are some of his subordinates making? I bet they are making much much more. $2mm doesn't even make for Paulson's lunch money.

[JStading]

07:30 PM on 01/30/2011

And this is a problem why?  The guy is brilliant.  I can't recall any other example in recent history of a corporation literally co-opting the government in a way that makes the company the de facto treasury department under not one, but two different administrations.  If Americans are too stupid to complain that they are being robbed blind, then this guy deserves to take whatever he can get.

[AmosKnows]

06:05 PM on 01/30/2011

I wish I was in charge of a vast criminal enterprise backed by a bought and paid for government which has and is enslaving and causing misery or millions of people so I could get a 300% raise.

[PrincessAnnie]

09:48 AM on 01/31/2011

Yep...an honest living hasn't gotten me far, either.

[zootliberal]

03:19 PM on 01/30/2011

and his company makes what? I forget. i

[TimtheEnchanted]

10:51 PM on 01/30/2011

rich people richer, poor people poorer.

[zootliberal]

02:16 AM on 01/31/2011

okay then, that makes sense, thanks; now, I need a drink.

[hellboundtrain]

04:26 AM on 01/31/2011

His company makes a few people insanely rich
and many people much poorer.

ALL HAIL GREED UNBOUND!

[LL NYC]

02:24 PM on 01/30/2011

Capitalism has gone too far and it is just GREED with no conscience whatsoever.

[TimtheEnchanted]

10:52 PM on 01/30/2011

" In the last days, men will be lovers of themselves and lovers of money..."

[notfooledbyu]

01:22 PM on 01/30/2011

The US military should be raiding Wall Street offices, not the homes of goat herders thousands of miles away. The vast majority of Americans have never been personally hurt by a terrorist, but Wall Street has totally screwed us over.

[schatsie]

02:13 PM on 01/30/2011

Exactly....

[cupcake77]

01:25 PM on 01/31/2011

fanned

[LL NYC]

02:23 PM on 01/30/2011

Good point! They'll get back from serving our country and have no jobs, much like the majority of people in our country. Wall Street should be serving us not the other way around. They are all criminals and should be forced to pay back the innocent people they have screwed over. It's an outrage!!!