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Goldman Sachs Sued by Shareholders for Breaking Own Rules on Executive Pay

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posted on Jan, 11 2010 @ 05:41 PM
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Goldman Sachs Sued by Shareholders for Breaking Own Rules on Executive Pay


www.blacklistednews.com

Ken Brown, a shareholder of Goldman Sachs, claims the firm is supposed to spend about 50% of its net revenue on salaries and bonuses. But in 2008 Goldman dished out $4.82 billion in bonuses despite earnings of only $2.32 billion..In the first quarter of 2009, it spent 259% of its net income on employee and executive compensation and in the second quarter 193%. Brown is now suing Goldman for exceeding its own rules on salaries and bonuses.
(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
Goldman Sachs and Others Investigated for Betting Against Securities They Created




posted on Jan, 11 2010 @ 05:41 PM
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This was kind of interesting to read. I have said this before, that you can might be able to control ten, or twenty, or fifty sheep. However if you were to have say five hundred, or one thousand sheep all decide to turn on you at once, you might be changing your out look on life. Or to out it another way, here it seems the natives are getting restless. I don't know how much of a change this will make but hopefully it will be something.

www.blacklistednews.com
(visit the link for the full news article)



posted on Jan, 11 2010 @ 06:01 PM
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reply to post by RedGolem
 


Is that not like biting the hand that feeds you? I would not invest in such a business myself. Guess the sheep are getting greedy too, ironic.



posted on Jan, 11 2010 @ 06:05 PM
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reply to post by Bunker or Bust
 


Bunker, thanks for posting.
Yes I am sure the sheep are getting greedy. Seeing the shepherd throwing table scraps at you might have something to do with that. But I think the analogy you used, biting the had that feeds you is not completely correct. I think it might be more of eating the had that feeds you.



posted on Jan, 11 2010 @ 06:12 PM
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The original supplier of the article here-ALLGOV

Has a couple of more interesting articles and links on this-

Goldman Sachs Directors Bled The Bank Dry, Shareholder Says

Lawsuit: Goldman Sachs bonuses bigger than its earnings

Supreme Court of New York Lawsuit-PDF

You provide some good reading-S&F for you



posted on Jan, 11 2010 @ 06:17 PM
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reply to post by RedGolem
 


Will be interesting and slightly sadistically amusing to watch the beast eat itself. Sad thing is that almost everyone is money motivated.

I think some interesting things will drop out of this over the next couple of months..



posted on Jan, 11 2010 @ 06:36 PM
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reply to post by endisnighe
 


Endisnighe
thanks for posting. And thanks again for the s and f.
Those are some good links. Hopefully something meaningful come about from this.



posted on Jan, 11 2010 @ 06:39 PM
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Originally posted by Bunker or Bust

Will be interesting and slightly sadistically amusing to watch the beast eat itself.


Bunker
yes the beast might be eating its self, but from what I have seen happen in the last few years I don't think it is so much eating its self. I think it is more of eating all the resources around him. Then goes off all fat and happy to some real expensive place to live while some one else comes in to take his old spot and thus then gets blamed for the mess that was left for him.



posted on Jan, 11 2010 @ 06:41 PM
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Well, this is interesting..

I hope he wins his suit. Could mean a management reshuffle at goldman (I guess.. not really sure what happens if he wins, tbh)



posted on Jan, 11 2010 @ 06:45 PM
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reply to post by Kaytagg
 


What happens when he wins and the a removal take place, is his mate comes to the table for his fill next. I think that is the standard mode of operation..



posted on Jan, 11 2010 @ 07:03 PM
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I just got back from digg, what the hell is going on?

I was on about 4 different articles and people I know for a fact are super liberal are mad, and I mean really mad.

Are people waking up to the truth?

Digg is a bastion of liberal ideologues. Can it be true, even they are waking up?


MBF

posted on Jan, 11 2010 @ 08:09 PM
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Upper management is bleeding the companies dry. The stockholders need to step in and say, enough is enough. Some stockholders have the authority to vote to sell the company, change management, break it up or whatever, I wonder if they do.



posted on Jan, 11 2010 @ 08:42 PM
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If I were Ken Brown at this moment, I'd go out and hire a dozen burly bodyguards for 24hour protection and also some food-tasters--it's not that I don't trust the Bauer (Rothschild) Clan, it's...well, let's just say if I were passing any of these critters on the street, I'd want to be wearing a full suit of body armour...including a dart proof helmet !



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