Wall Street Manna

An irreverent look at Wall Street

Sunday, June 21, 2009

Record bonuses at Goldman Sachs

Goldman pays back the tarp, and now they are ready to pay the biggest bonuses in their history.

Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm's 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms.

A lack of competition and a surge in revenues from trading foreign currency, bonds and fixed-income products has sent profits at Goldman Sachs soaring, according to insiders at the firm.

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