By Andrew Clark
Put the bottles of Krug on ice. Golden days are here again for elite investment banks. Goldman Sachs is gearing up to pay its biggest ever bonuses to its 31,700 employees after raking in profits at a rate of $35m (£21.5m) a day, in the clearest signal yet that the Square Mile and Wall Street are returning to their old ways of money-making prosperity.
Just weeks after the leaders of the G20 countries called for restraint in financial industry pay to avert “unacceptable risk-taking,” Goldman’s astute trading on resurgent financial markets yielded an almost 300% rise in quarterly profits to $3.19bn.
Continue reading Goldman Sachs Breaks Record With $16.7bn Bonus Pot