MAIL Online: Goldman Sachs is on course to pay its top City bankers multi-million pound bonuses, despite asking the U.S. government for an emergency bail-out.
The struggling Wall Street bank has set aside £7bn for salaries and year-end bonuses this year, it emerged tonight.
The scale of the pay pool means the firm's 443 partners are on course to pocket an average Christmas bonus of over £3m.
The staff bonanza comfortably dwarfs the £6.1bn lifeline the American government is throwing to Goldman as part of its $700bn scheme to resuscitate the US financial industry.
It means that as Washington pours money into the bank, the cash will immediately be channelled into the bank accounts of Goldman's already well-heeled bankers.
News of the firm's largesse will revive the anger over the 'rewards for failure' culture endemic in the world of high finance.
The same bankers who have brought the global economy to its knees seem to pocketing rewards on a par with the boom years. Goldman Sachs Ready to Hand Out £7bn Salary and Bonus Package... After Its £6bn Bail-out >>> By Simon Duke | October 29, 2008
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