The British press is reporting that Lloyd Blankfein, the CEO of Goldman Sachs (GS), and his top dogs are preparing to receive some massive bonuses for 2009, despite the political furor that has erupted as of late. The London-based Times notes Blankfein's biggest bonus was awarded in 2007, when he was paid $67.9 million.

Goldman's profits last year were $1.8 billion higher than in 2007. So it might be reasonable to assume that he'd be in for more than $67.9 billion for 2009, which makes sense until you take into account the politics of it all. The bank has already been cutting back on employee pay and it would send a horrible message if Blankfein were to take a massive increase. I doubt it will happen. But the news underscores the sensitivity that is attached to the issue of Blankfein's pay.

He'd be wise to accept it all in stock that can't be cashed for seven years, give at least half to charity and make an appearance in Haiti with some investment bankers in work overalls. In any case, the world waits. 

For more:
- here's the article

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