Three Minutes With Pay Czar Ken Feinberg On Blankfein's $9 Million Bonus (WATCH)

Blankfein, who received a $68 million compensation package in 2007, received no bonus in 2008.  His 2009 payout was $9 million while Jamie Dimon took $17 million (also all stock) from JPMorgan.  I'm not sure why I bother to show clips of Feinberg, as he has proved so far to be completely and utterly useless.

Feinberg's quote on Blankfein:

"Yes I think Lloyd Blankfein's bonus is [in excess].  If you look at the 700 people that are under my mandatory jurisdiction I do not believe there is more than one or two in the total of 700 that are making that type of total compensation.  On the other hand, clearly Goldman is following the prescriptions I've laid out.  Mr. Lloyd Blankfein is getting a very low base cash salary.  His total comp is again tied up in long term stock, the value of which cannot be determined or transferred for about five years.  That is the type of compensation we're looking for, where value is tied to the total performance of the company itself."

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