Goldman Sachs (GS) Bankers Check Into Poor House

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published

R218533_855025Most of the CEOs at banks and investment houses are losing their bonuses this year, so what not let every employee at the firms share their pain? Even if they did nothing to deserve it? Some of them may have actually made money for the firm.

Who cares? The tidal wave carries everyone out to sea.

Referring to Goldman Sachs (GS), The New York Post writes, "Everyone from the investment bank’s senior executives to rank-and-file employees are expected to feel the pinch from the smaller bonus pool, with jet-setting bankers seeing their bonus shrink as much as 80 percent, while lower-level workers could see their bonuses fall by half. "

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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