Lloyd Blankfein, CEO of Goldman Sachs, had a good week. He received a $12.6 million stock bonus for his recent stellar performance. Last year, he received a paltry $9 million.
Goldman also increased his salary to $2 million this year from $600,000. Blankfein received this higher salary and bonus while the Bank's earnings droopped 38 percent. So well done Lloyd, you deserve it.
Despite the 2010 increase, the last three years haven't been great for Lloyd. In 2007, he received a $67.9 million bonus.
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September 18, 2008
Shares slump on Wall Street to fuel fears of massive fire sale
"...Christopher Cox, chairman of the Securities and Exchange Commission, and Lloyd Blankfein, head of Goldman, to discuss ways to prevent short-selling of the companies’ stocks, which has helped to drive down their shares this week."
I guess "Bankfein" won't be blaming short-sellers for his deserved compensation increases!
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