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View Diary: Prosecuting Wall Street Gets Real (193 comments)

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  •  Unprecedented bonuses for Goldman execs. (3+ / 0-)
    Recommended by:
    elwior, burnt out, Creosote

    They want to own every penny. Remind anyone of Enron?

    posted 48 minutes ago:

    (Reuters) - Top Goldman Sachs Group Inc executives received previously restricted stock awards that are now worth $47.7 million, according to regulatory filings, though the executives are still limited in selling most of their Goldman stock.

    Chief Executive Lloyd Blankfein, Chief Financial Officer David Viniar, Chief Operating Officer Gary Cohn and top investment banker and vice chairman John Weinberg each received 45,497 shares worth $5.1 million, based on Goldman's closing price of $111.77 on Friday. ....

    Seven other executives each received previously awarded shares worth $2.8 million to $5 million, according to Form 4 filings with the U.S. Securities and Exchange Commission. Among those executives are vice chairmen Michael Evans and Michael Sherwood, as well as Goldman's legal chief, Gregory Palm, its accounting chief, Sarah Smith, and compliance chief Alan Cohen.

    The stock awards became unlocked on Wednesday, but the 11 executives did not immediately sell those shares. They did sell an additional $20.2 million worth of Goldman stock at $107.44 apiece to cover tax obligations.

    Reuters via Yahoo

    "Let each unique song be sung and the spell of differentiation be broken" - Winter Rabbit

    by cotterperson on Sat Jan 28, 2012 at 11:33:17 AM PST

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