Goldman Trims Its Bonus Pool: Will Its Bankers Flee?

Updated

Poor Goldman Sachs Group (GS)! Its CEO, Lloyd Blankfein, is giving his people a nasty pay cut despite its tremendous profit performance in 2009.

The pay cut makes me wonder if Blankfein thinks we forgot about his argument that he needed to pay the talent or he'd lose it. Either that argument is (and always has been) bogus or Goldman decided that it would be better to lose talent than to face an angry public if it decided to keep paying out half its revenues as a bonus.

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