Why Are These CEOs So Overpaid?
The staggering growth of CEO pay might have something to do with executives' control over their own compensation. These are the chairmen/CEOs enjoying the biggest paydays.
Lloyd Blankfein
New Rule on Goldman Sachs Bonuses: Don't Embarrass the Firm
Goldman Sachs employees earn stellar bonuses, even by Wall Street's standards. But now, bonuses will be tied to more than earnings; they'll also be tied to avoiding bad PR.
The Highest-Paid CEOs in Banking
J.P. Morgan Chase's Jamie Dimon made $18.7 million last year, putting him fourth on the list of highest-paid chiefs in banking. Which CEOs made even more?
Goldman Sachs Earnings Beat Analyst Estimates
Goldman Sachs reported first-quarter results that beat analyst forecasts thanks to a pickup in stock and bond underwriting.
Is Goldman Sachs Riskier Than It Wants to Admit?
The Federal Reserve will release the final results of its bank stress tests after Thursday's market close. But preliminary results suggest Goldman could lose $25 billion from bad trades in another financial crisis, more than any other bank tested by the Fed.
Without Taxpayer Aid, Too Big to Fail Banks Would Only Break Even
Today brings a new milestone in big banks' fall from grace: a Bloomberg editorial alleging that Wall Street's largest financial firms wouldn't be profitable without taxpayer backstops, and calling for an end to the perverse incentives the current arrangement produces.
Pop Quiz: October's Nightmares on Wall Street
In honor of Black Monday 1987 and Black Monday 1929, we bring you the October recession/depression quiz. If you've ever wondered what causes recessions, how we survive them, and how they end, take our quiz and find out!
Goldman Sachs's Great Muppet Caper Comes to an End, For Now
After Greg Smith quit Goldman Sachs in the most public fashion possible -- slamming his employer in the pages of The New York Times -- the firm launched an investigation into his most explosive charge: that employees referred to clients as "muppets" in internal emails.
Goldman Sachs Goes from 'Muppets' to Tweets
In a move to give itself more of a voice in an online conversation in which it largely gets lambasted, investment banking giant Goldman Sachs joined Twitter Thursday.
Holy High Rollers: Blankfein's Latest Run in With Nuns
At Goldman Sachs annual shareholders' meeting on Thursday, CEO Lloyd Blankfein mixed it up a bit with a shareholder representative of the Almighty. And it wasn't the first time he's had a little trouble from the brides of Christ.
Apple Employees Rate New CEO Better at the Job than Jobs
Everyone knows that Apple under Steve Jobs performed wonderfully. But if you ask employees, the Mac maker is doing even better with Tim Cook at the helm. Surprised? You should be.
Why America Really Hates Goldman Sachs (Hint: It's Not About 'Muppets')
Last week's broadside from an ex-employee didn't help Goldman's image, but all the to-do ignored the public's real issue with the firm.
Another Ex-Goldman Banker Confesses: Firm Is 'Toxic'
The fallout is still evolving from Greg Smith's public resignation from Goldman Sachs, a firm he called "toxic and destructive," where clients were mocked and their interests sidelined. In a DailyFinance exclusive, we have a response from another ex-employee who backs his claims -- and defends her former colleagues.
Inside Goldman's Earnings Miss
Goldman Sachs reported second quarter earnings of $1.09 billion, or $1.85 per share -- results that are below expectations. While still the most venerable Wall Street Bank, Goldman's quarterly earnings underline a key trait of the investment banking industry: Results can be exceedingly volatile.
This May Be the Best Way to Put CEO Pay in Perspective
To wrap your head around how much someone like Larry Ellison makes, try comparing his compensation to the median income of an American household -- $49,777. His 2008 take of $543 million is the equivalent of the annual earnings of 10,908 average American families. Got that?
FT/Goldman Sachs Book Awards Celebrate Reading in a Digital Age
Fault Lines: How Hidden Fractures Still Threaten the World Economy, by Raghuram G. Rajan, took home the honors at the Financial Times/Goldman Sachs business book of the year award. Keynote speaker Vartan Gregorian delivered a rousing speech in which he called the print vs. digital debate a false choice.
Time for Investors to Lower Their Goldman Expectations?
After eyeballing the firm's revealing second-quarter results, maybe investors should start getting used to the idea that Goldman Sachs will no longer be the invincible Wall Street powerhouse it has been all these many years.
Would Getting Lloyd Blankfein on 'Oprah' Lift Goldman Sachs's Image?
Executives at Goldman Sachs are considering a new marketing plan that includes chief executive officer Lloyd Blankfein possibly appearing on Oprah. Apparently no one at Goldman actually watches The Oprah Winfrey Show.
BP's Hayward Makes Goldman's Blankfein Look Good
Watching BP CEO Tony Hayward deny personal responsibility for the ecological disaster in the Gulf of Mexico has angered members of Congress and the public. But it's not hard to imagine one person watching with a satisfied smile on his face: Goldman Sachs CEO Lloyd Blankfein.
Will Warren Buffett Take Over Goldman Sachs?
As Goldman gets tangled in more lawsuits and probes, it's looking increasingly like Salomon Brothers in 1991, when top executives resigned in disgrace and Buffett assumed command. Indeed, parallels between the firms are eerily similar.
Will the Heat on Lloyd Blankfein Get Unbearable?
The Financial Crisis Inquiry Commission's subpoena of Goldman Sachs for documents has thrust the beleaguered firm back in the spotlight. And now even a bullish top analyst is calling for CEO Blankfein to be replaced.
Thursday's Plunge: Still Guessing About the Cause
Even as stock markets staged a huge rally Monday, some market experts worry that the federal government will overreact to the recent turmoil and the extreme volatility.
Buffett Could Save Goldman
Questions about whether Goldman Sachs Group chairman and CEO Lloyd Blankfein can stay in his job are mounting. Could Buffett step in?
Did Lloyd Blankfein Cost His Alma Mater $100 Million?
Goldman Sachs CEO Lloyd Blankfein loves to recount how he rose up from the mean streets of Brooklyn and went to Harvard on scholarship and on to its law school. But he turned around and bit the hand that fed him, to the tune of at least $100 million, when Harvard found itself on the wrong side of a synthetic CDO bet with Goldman.
Goldman's Blankfein: 'We Certainly Did Not Bet Against Our Clients'
In testimony before a Senate subcommittee Tuesday, Goldman Sachs CEO Lloyd Blankfein defended his firm against SEC charges of fraud involving mortgage-backed securities. He said: Goldman "didn't have a massive short against the housing market and we certainly did not bet against our clients."
Goldman's 'Unsure' Defense: Is That the Best It Can Do?
Goldman reportedly plans to claim it was unsure of the mortgage market's direction in 2006 and 2007. How this boosts its legal case against SEC fraud charges is unclear -- but it certainly signals that clients' interests don't come first for the bank.
Goldman Prepares a More Aggressive Defense
Leaked Goldman Sachs documents show that it will come out swinging against SEC fraud charges. Goldman reportedly plans to claim it was unsure about the mortgage market's direction in 2006 and 2007.
A Big Payday for JPMorgan CEO
Jamie Dimon, the CEO of JPMorgan Chase (JPM), will receive a $15 million to $20 million 2009 pay package -- many analysts had expected he would make much more. But even "modest" compensation packages for Wall Street CEOs will almost certainly still stir trouble among many politicians who claim that banks bailed out with TARP money have no appreciation for taxpayer sacrifices.