{"id":189864,"date":"2010-02-05T18:31:00","date_gmt":"2010-02-05T23:31:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/02\/05\/blankfein-buys-a-clue\/"},"modified":"2010-02-05T18:31:00","modified_gmt":"2010-02-05T23:31:00","slug":"blankfein-buys-a-clue","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/02\/05\/blankfein-buys-a-clue\/","title":{"rendered":"Blankfein Buys a Clue"},"content":{"rendered":"<p>Well, it appears that he is a bit less arrogant than his ilk, as <a href=\"http:\/\/money.cnn.com\/2010\/02\/05\/news\/companies\/blankfein_bonus\/index.htm\">Goldman Sachs CEO Lloyd Blankfein year bonus was just $9 million<\/a>, with none of it in cash, a far cry from the <a href=\"http:\/\/40yrs.blogspot.com\/2010\/02\/not-enough-bullets.html\">reports of $100 million<\/a>:<\/p>\n<blockquote><p>Goldman Sachs stunned many in the Wall Street community Friday by awarding chief executive Lloyd Blankfein $9 million as his year-end bonus, far less than many were anticipating, and none of it in cash.<\/p><\/blockquote>\n<p>It was in restricted stock.<\/p>\n<p>My guess is that there are some back channel deals, and the whole idea of a &#8220;just $9 million&#8221; being an exercise in frugality is odd, but he recognizes that there is a very real problem, and he is taking actions to immunize himself, as well as the vampire squid,<sup>*<\/sup> from some of the treats of regulatory and legislative action, so credit where is due.<\/p>\n<p>My guess would be is that he got some security and buy-out guarantees that are worth a lot more, in exchange, but those are crafted so as not to show up headline.<\/p>\n<p>Additionally, this may be a big &#8220;f%$# you&#8221; to his competitors, who now have to explain why they got bigger bonuses with less performance.<\/p>\n<p><sup>*<\/sup><span style=\"font-size: 78%;\">Alas, I cannot claim credit for this bon mot, it was coined by the great Matt Taibbi, in his article on the <\/span><span style=\"text-decoration: line-through; font-size: 78%;\">massive criminal conspiracy<\/span><span style=\"font-size: 78%;\"> investment firm, <\/span><a href=\"http:\/\/www.rollingstone.com\/politics\/story\/28816321\/the_great_american_bubble_machine\"><span style=\"font-style: italic; font-size: 78%;\">The Great American Bubble Machine<\/span><\/a><span style=\"font-size: 78%;\">.<br \/><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, it appears that he is a bit less arrogant than his ilk, as Goldman Sachs CEO Lloyd Blankfein year bonus was just $9 million, with none of it in cash, a far cry from the reports of $100 million: Goldman Sachs stunned many in the Wall Street community Friday by awarding chief executive Lloyd &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1136,1005,970,975,1004],"tags":[],"class_list":["post-189864","post","type-post","status-publish","format-standard","hentry","category-breaking-news","category-business","category-corruption","category-employment","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189864"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=189864"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/189864\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=189864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=189864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=189864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}