Friday, December 21, 2007

Goldman Sachs CEO gets $67.9 million bonus, $67.9 million too much

Goldman does not cause high profits but is merely associated with it.

Yes Goldman has done well in a credit crunch and put up big profits when the other banks have faltered, but is it because of him? No. In fact, it's not even the talent of those around him. All Goldman has to do is not screw up royally...and just ride on the brand recognition. It's sad really.

So much for a meritocracy and market efficiency.

Read a softball article here.

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