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Goldman's Curbs on Bonuses Aim to Quell Uproar

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"With France joining Britain in proposing a steep tax on bank bonuses, Goldman Sachs moved on Thursday to quell the uproar over its resurgent profits and pay," the New York Times reported. "Bowing to calls for restraint in tough economic times, Goldman said that its most senior executives would forgo cash bonuses this year. Instead, the 30 executives will be paid in the form of long-term stock — an arrangement that means they will not get big year-end paydays, but one that could turn out to be enormously lucrative if Goldman’s share price rises over time."

As recommended here back in September.
SOURCE:   New York Times