Goldman Sachs bosses are to pick up $111million in bonuses in an ‘outrageous’ pay deal that flies in the face of the worst recession for 80 years.
The investment banks’ chief executive Lloyd Blankfein and president Gary Cohn will get $24million each under the bumper agreement that will see thousands of others get huge rewards.
Goldman Sachs Chief Executive Lloyd Blankfein (right) and President and COO Gary Cohn will each receive a bonus of $24million this year.
Goldman’s largesse comes as America’s economy struggles to recover from financial meltdown caused by risky bank lending.
Millions of Americans have been forced out of their jobs and federal workers have been told by President Barack Obama to take a pay freeze amid an unprecedented squeeze on public finances.
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