Wednesday, January 18, 2012

Goldman Sachs bankers in line for £1.5 BILLION pay and bonus pot despite fall in profits (and that's just for London staff)

London bankers at Goldman Sachs are in line for a pay and bonus pot of £1.5billion, despite a fall in profits.

With Britain in the grip of a recession, the announcement will only add to public fury over City payouts.

The company, which is awarding its workers £8.2billion globally, has 5,300 staff based in Britain.

Business Secretary Vince Cable said: 'These pay awards reflect a basic lack of reality about the world we now live in.

'The concern is that it could have a knock-on effect throughout the banking sector at exactly the time the Government and businesses are urging restraint.' Read More