黑老大发话了

dividend_growth

http://www.bloomberg.com/apps/ne ... p;sid=aYQDRixxhzPI#

Goldman’s Blankfein Calls for Pay Rules to Stem Risk (Update2)
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By Aaron Kirchfeld and Jann Bettinga

Sept. 9 (Bloomberg) -- Goldman Sachs Group Inc. Chief Executive Officer Lloyd Blankfein said multiyear guaranteed contracts for bankers should be banned and the “clawback” of pay should be permitted to discourage excessive risk-taking.

The portion of pay in stock should rise “significantly” as compensation increases, senior bankers should get most of their pay in deferred equity and top executives should be required to retain the bulk of the equity until they retire, Blankfein also said at a banking conference in Frankfurt today.

“Compensation continues to generate controversy and anger,” Blankfein said. “And, in many respects, much of it is understandable and appropriate. There is little justification for the payment of outsized discretionary compensation when a financial institution lost money for the year.”

buctusa

SO short or long financials?

polopolo

This is going back to partnership structure, and will mean drastically lower leverage.