Scant Regard for Anything
Its own shareholders are turning on the bailed-out and bonus-glutted Goldman Sachs, with an Illinois pension fund suing the
company to recover "billions in compensation" the firm paid its
employees. The suit by the Central Laborers' Pension Fund says the
company is on track this year to give employees $22 billion in pay and
bonuses, or more than 259 percent of its net income.
"Defendants' conduct shows that, even though Goldman is supposedly
owned by public shareholders, defendants have scant regard for the
interests of those shareholders," the plaintiff said in the suit.