This week, some of the roughly 30,000 employees at Goldman got a letter telling them that the Wall Street firm has changed how it doles out certain stock grants, including by easing the rules on when restricted shares may be sold.
Translation: Cash-strapped employees now can use their Goldman stock like an automated teller machine.
Thursday, January 15, 2009
Goldman Sachs Being Goldman Sachs
To much fanfare, Goldman Sachs cut its bonus pool nearly in half. Tough times and all. Now, it turns out that Goldman found another way to shovel money to bonus babies. Goldman has eased rules on stock grants to allow employees to cash out faster. Reports WSJ:
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“Translation: Cash-strapped employees now can use their Goldman stock like an automated teller machine.”
ReplyDeleteThe same Goldman stock that is only worth more then the paper it printed on because of the massive bailout using taxpayer money given to them by Hank “Goldman Sachs” Paulson. The employees need to take some of their ill gotten gains and build a golden statue to good old Hank in the lobby of their building so they can bow down and worship their savior
DJF
DJF,
ReplyDeleteWell said.