The Daily Outrage: Goldman Sachs pays top dollar to executives’ kids 

WHAT: Getting a starter job at Goldman Sachs can be a well-paid family affair for children of the Wall Street company’s top management. The firm’s 2009 proxy disclosure said “a child” of Goldman chief Lloyd C. Blankfein was paid $155,000 as a nonexecutive employee. The financial blogosphere widely reported that Blankfein’s son Jonathan would join the firm after graduating from Harvard this spring and older son Alex was already working there in a “capacity that isn’t clear.”

WHO ELSE: The offspring of at least two other Goldman executives also rake in big bucks there. The proxy disclosure listed a son of general counsel Esta E. Stecher as being paid $200,000 last year — a hefty increase from his 2008 pay of $124,000. And a stepdaughter of CFO David A. Viniar was given a raise from $150,000 to $225,000 in 2009.

WHY IT’S A BAD IDEA: Goldman Sachs cashed in big from the federal bailout, and its precrash dealings have been heavily criticized.

About The Author

Staff Report

Staff Report

Bio:
A daily newspaper covering San Francisco, San Mateo County and serving Alameda, Marin and Santa Clara counties.
Pin It
Favorite

Speaking of Opinion

More by Staff Report

Thursday, Apr 19, 2018

Videos

Most Popular Stories

© 2018 The San Francisco Examiner

Website powered by Foundation