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Unmask the Fed
Congressmen Alan Grayson and Ron Paul
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Rianovosti
Goldman Sachs breaks record with $16.7bn bonus pot
Guardian
"Just weeks after the leaders of the G20 countries called for restraint in financial industry pay to avert 'unacceptable risk-taking,' Goldman's astute trading on resurgent financial markets yielded an almost 300% rise in quarterly profits to $3.19bn.
Under the US firm's policy of setting aside nearly half of its revenue to pay its staff, a remuneration fund for employees has reached $16.7bn for the year to date – amounting to $527,000 (£323,000) per person.
Barring a sudden slump in business in the final months of the year, Goldman's bankers, including 5,500 staff at its London office on Fleet Street, can look forward to an average year-end payout of more than $700,000 (£430,000) each, which would be the highest figure in the firm's 140-year history."
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