Plenty of bonuses on Wall Street still
While Goldman Sachs, UBS, Deutsche Bank and Barclays have all announced that their top executives will forego bonuses in 2008, there will still be lots of bonus money handed out. You're lucky if you never made it into the C-suite at Goldman because you can still share the bonus pool. At Goldman, $11.5 billion has been set aside for compensation for the first three quarters, the Economist notes. So there will be lots of bankers and traders still getting bonuses. Not sure how that will fly with the regulators. If your company made money in 2008, then the position is tenable, and if not, it's a lot more dicey. The world still awaits the big decision from Citi. A move to pay executive bonuses for 2008 just might be the last straw politically.
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