Bonus Sinks to $7 Million

The chief executive officer of Goldman Sachs, the too-big-to-fail bank in the middle of the 2008 world financial crises, saw his stock bonus cut to $7 million in 2011, down from $12.6 million the year before. The investment bank saw a 58% profit drop during the final quarter of 2011.

Fortunately for Lloyd Blankfein his salary for the year had been increased to $2 million from $600,000 in 2010, it had previously been reported according to The Wall Street Journal.

When asked about Blankfein’s cash bonus, “a Goldman spokesman declined to comment,” according to reporter Liz Rappaport.

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