Goldman Sachs takes $12B Bailout, Hands out $14B Bonuses

Goldman Sachs is on course to pay its top City bankers
multimillion-pound bonuses – despite asking the U.S. government for an emergency bail-out. The struggling Wall Street bank has set aside £7billion for salaries and 2008 year-end bonuses, it emerged yesterday. Each of the firm’s 443 partners is on course to pocket an average Christmas bonus of more than £3million. The size of the pay pool comfortably dwarfs the £6.1billion lifeline which
the U.S. government is throwing to Goldman as part of its £430billion
bail-out. As Washington pours money into the bank, the cash will immediately be channelled to Goldman’s already well-heeled employees.

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