Goldman Sachs Bonuses Bigger Earnings

Sharpen that gilloutine:

Shareholder Ken Brown’s lawsuit is one of two suits filed against the company this week over its controversial decision to hand out billions of dollars in bonuses even after it was accused of playing a central role in the financial collapse of 2008 and receiving $10 billion in direct aid from the US government. In his lawsuit (PDF), Brown states that Goldman Sachs gave out $4.82 billion in bonuses in 2008, despite earnings of only $2.32 billion that year. The lawsuit alleges that the company spent 259 percent of its income in the first quarter of 2009 on compensation.

via Lawsuit: Goldman Sachs bonuses bigger than its earnings | Raw Story.