David Viniar the chief financial officer at Goldman Sachs has opted out of
the 2008 bonus scheme along with several other top executives.
Viniar received $57.5m in cash and stock bonuses last year.
A Goldman Sachs spokesman told
Financial Times: ‘Our senior executive officers made this decision because
they believe it is the right thing to do. We cannot ignore the fact that we are
part of an industry this is directly associated with the ongoing economic
Goldman Sachs, along with several other banks, received a cash injection of
$10bn from the Federal Reserve earlier this year. Although the terms of the
bailout do not stipulate that executives cannot receive bonuses, the banks have
come under pressure to ensure that federal money does not fund executive rewards
in the current economic climate.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements