New day, same ......... Goldman Sachs uses bailout money for bonuses (credit, buy)

[Woof]

MapofLosAngeles (http://www.lifeaftertheoilcrash.net/PostOilBulletin/GoldmanSachs.html - broken link)

[Oildog]

I thought GS executives made a public declaration not to take bonuses because the stock price has been knocked down and the company posted a loss???

Where would those employees who need a retention bonus go??? All the neighbors are losing jobs as well, or being absorbed. I think they need to suck it up for a year...heck most people I know are not expecting a bonus given the economic climate. For what its worth Im calling my legislators to leave a message that the money should be used to facilitate credit so people CAN buy things like cars etc.

[HappyTexan]

Originally Posted by Oildog

I thought GS executives made a public declaration not to take bonuses because the stock price has been knocked down and the company posted a loss???

Where would those employees who need a retention bonus go??? All the neighbors are losing jobs as well, or being absorbed. I think they need to suck it up for a year...heck most people I know are not expecting a bonus given the economic climate. For what its worth Im calling my legislators to leave a message that the money should be used to facilitate credit so people CAN buy things like cars etc.

Those are employee bonuses..not executive bonuses.
The executives will probably use "retention" pay for their extra money.