Did Blankfein earn his $74 million?

As part of its package on CEO pay in 2007, Forbes offers up a profile of Goldman Sachs CEO Lloyd Blankfein--the $74 million dollar man. The piece notes that after it became known that Goldman Sachs paid him nearly $315,000 each working day in 2007, shareholders decided to put up a fight. A proposal to give shareholders a voice in exec pay decisions won 43 percent of the vote. How quickly people forget about Goldman's stunning performance last year, when Blankfein pocketed 0.64 percent of Goldman's profits. At Lehman Brothers, CEO Richard Fuld was paid 1.7 percent of profits. At Morgan Stanley, CEO John Mack received 0.55 percent of profits. In all, the board likely was justified. The real test for the compensation committee will be this year, especially if Goldman Sachs stumbles, which is a real possibility.  

For more:
- here's the Forbes article

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