Lloyd Blankfein, CEO of Goldman Sachs (GS), earned praise--relatively speaking--for taking a modest $9 million in restricted stock despite a banner year for the firm in 2009. One issue here is whether the boom in CEO pay has ended. Will Blankfein, even in a good year for the firm, be able to earn another $68 million bonus like he did in 2007?

Reuters suggests those kinds of bonuses are long gone, and many will be inclined to agree. The board certainly doesn't want a repeat of the kind of scrutiny that kicked the firm last year. But I'm not so sure. When, make that if, the good times return and Main Street is prospering along with Wall Street, the mood will be vastly different. When everyone's getting rich, Main Street tends to cheer executive good fortune. It may take years, but I do think the cycle will turn. It really depends on how long Blankfein lasts at the top and whether he can keep his firm on top through the next cycle, which will not be easy. 

For more:
- here's the article

Related Articles:
More signs of backlash
Goldman Sachs shows the way
Citi's bonuses better than Goldman's?
Big bonuses at Bank of America?