Thursday, September 24, 2009
MARK DECAMBRE, New York Post
MARK DECAMBRE, New York Post
GOLDMAN PRINCES TOLD: SPEND LIKE PAUPERS
Goldman Sachs CEO Lloyd Blankfein has warned his employess to avoid making big-ticket, high-profile purchases as the gold-plated Wall Street firm hunkers down amid a firestorm of public and political anger over outsize bonus payments.
According to sources at the bank, Blankfein has Goldman in particular, should be toned down in light of the billions in bailout money that banks, including Goldman, have gotten from Uncle Sam.
A source within the bank said Blankfein first began calling for an end to the conspicuous consumption late last year, but has stepped up his campaign in recent weeks as the White House has sought to rein in compensation and as the firm has gotten dinged by a pair of high-profile magazine articles.
"This is a sensitive time for us, and [Blankfein] wants to make sure that we're not being seen living high on the hog," said one Goldman exec.
Posted by Editor on 09/24/09 at 01:55 PM •
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