It’s good to see that US Treasury Secretary Henry Paulson, the former CEO of Goldman Sachs, met with some representatives of the avrerage working man to sort out the financial crisis.
The Wall Street Journal wrote:
“Expected to attend were banking executives including Ken Lewis, CEO of Bank of America; Jamie Dimon, CEO of JPMorgan Chase; Lloyd Blankfein, CEO of Goldman Sachs Group; John Mack, CEO of Morgan Stanley; and Robert P. Kelly, CEO of Bank of New York Mellon.”
This bunch of average Joes have done pretty well in the last few years, just like everyone else:
Paulson, whose former bank, Goldman Sachs, stands to benefit handsomely from the bailout amassed a personal fortune of $700 million while there.
Forbes says, Ken Lewis last year brought in a salary of $20.13 million, and his holdings of Bank of America stock are worth an estimated $112 million.
Jamie Dimon received a 2007 Christmas bonus of $14.5 million and holds $190 million in JPMorgan stock.
Lloyd Blankfein received a Christmas bonus of $68 million and his holdings of Goldman Sachs stock were worth $414.5 million last year.
Vikram Pandit received a $165 million signing bonus from Citigroup last year, together with a $2.7 million salary for a few months of work and $48 million in stock options.
John Mack received $41.8 million in compensation last year, and his 2007 holdings in Morgan Stanley stock were worth $220 million.