Goldman Sachs Refuses Shareholders' Requests for Investigation Into Bonuses and Pay:

[amborin]

http://www.commondreams.org/headline/2010/03/01-6

Goldman Board Rejects Shareholder Demands on Pay

NEW YORK - Goldman Sachs Group Inc's (GS.N) board has rejected demands from shareholders that the firm investigate recent compensation awards, recoup excessive compensation and reform pay practices.

Wall Street's dominant bank, criticized for paying billions of dollars in bonuses soon after the taxpayer bailout of the banking industry, reported the board's decision in a regulatory filing on Monday.

Goldman reported the shareholder demands last year and said at the time that its board was considering them. The firm did not name the shareholders who made the demands.

Goldman could not be immediately reached for comment.

Goldman reported a record profit in 2009 and was on pace to pay more than $20 billion in compensation heading into the fourth quarter. But facing public ire, it capped compensation expenses at $16.2 billion for the year.

The firm also paid its top 30 executives all-stock bonuses rather than cash.

snip

[louis-t]

1. Note to shareholders...

if you don't like it, invest elsewhere. :shrug:

[Mike 03]

2. Oh shit, here we go. We are going to learn so much from the investigations

that are going to follow.

When the exposure of Goldman to AIG is really understood, there is going to be outrage like you have never seen.

[Mike 03]

3. K and Rec. This is going to be fascinating beyond belief. NT

[RagAss]

4. Who needs the "Little People"..crying about our bonuses.....small time shits !

[aquart]

5. I don't think anyone "little" made the request.

Question: Can their asses be sued to bring about disclosure?

[RagAss]

6. I hope so... !