Goldman Sachs Going into Bankruptcy?
 

The Wall Street Journal is reporting Goldman may have a loss of $5/share for its last quarter of 2008 -- waaaay worse than what analysts were expecting.

Another big Wall Street "ponzi scheme" may be ready to bite the dust.

Oh no! What will Paulson do after after Jan. 20th now?

I hate to go back to the old school excuse but I wonder what they will be shelling out for bonuses this year?

Nothing, I would hope.

I think their top executives have already given up their bonuses for '08. I don't think the CEO will miss his, he received a record setting $68 MILLION bonus for '07 alone (and I'm not referring to cashing in accumulated options either) :(.

Worldwide it seems that a lot of banks and big name corporations are in serious trouble and are likely to go under or are taking aggressive action to avoid it such as laying off a lot of staff, selling assets etc.

In some cases I am sure they are taking advantage of the situation to get rid of a lot of deadwood from positions that should never have been created and filled by people that should never have been hired. The consequence of this all happening at once is that a lot of these people (especially the older ones) will probably never work in their profession (generous use of the word profession) again. I anticipate a lot of first novels, so called "consultants" touting for work and new one-man and a dog business start-ups.

I don't see a lot of hope until we return to a genuine production based economy where workers at all levels perform and are paid for genuine productive work. This oviusly includes everyone from the cleaner to the customer service rep, to the general manager to the bank officer.

http://www.fiercefinance.com/story/more-goldman-sachs-bonus-pool/2007-12-14

The average in 2007 was $600,000 per employee and the pool was $18 Billion, I think they need to review their compensation program!

600k per employee is a deceiving figure. Obviously that’s top heavy and the mean bonus was probably less than 100k. Goldman was changed to a “bank holding company” from an investment bank and I speculate that some of the earnings drop has to do with accounting rules. I doubt GS is going under. I am screwed if they do.

they declined the bonus

Fixed it for yah!SmileWavy

Nothing wrong with the Wallstreet bosses that a 7.62 round in the back of their wouldn't fix.

What a stupid comment.

+1