Official reports have confirmed that for his performance in the year 2009, the Chairman and Chief Executive Officer of Goldman Sachs Group Inc., Lloyd Blankfein was awarded a bonus of $9 Million in stock. Over the past year, the profits of the group had managed to rise to hit an all-time high and value of the shares had doubled.
The actual amount has managed to fall short of the Wall Street record that the 55 year old CEO had managed to set in 2007 when he was awarded a bonus worth a whopping $67.9 Million.
As was disclosed by Goldman in an official filing with the U. S. Securities and Exchange Commission, Mr. Blankfein was paid 58,381 restricted stock units, which, based on the very latest closing price of the shares, amounted to $9 Million.
"There's a perception amongst the public that if it wasn't for the bailout that these firms wouldn't have these profits and therefore wouldn't be able to pay the size of bonuses. Main Street sees it as these guys are earning ridiculous amounts of money while the average American is having a difficult time", said Joseph Sorrentino, Managing Director at Steven Hall & Partners LLC, New York.
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