October 30, 2008 Daily Mail (UK)
"Goldman Sachs ready to hand out £7bn salary and bonus package... after its £6bn bail-out"
by Simon Duke
<snip>
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 £7 billion 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 £3 million.
The size of the pay pool comfortably dwarfs the £6.1 billion lifeline
which the U.S. government is throwing to Goldman as part of its
£430 billion bail-out.
As Washington pours money into the bank, the cash will immediately
be channelled to Goldman's already well-heeled employees.
News of the firm's largesse will revive the anger over the 'rewards
for failure' culture endemic in the world of high finance.
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