The Times of London is reporting based on unsourced rumors that rival bankers claim Goldman Sachs Group (GS) CEO Lloyd Blankfein will pull in a cool $100 million bonus. Given that The Times is owned by Rupert Murdoch, whose mouthpieces thrive on fake populism, this report ought to be taken with a huge grain of salt. But what if it was true?
If so, it would be a shiny red cape waved in front of the raging bull of the American public, which, as I have noted in previous articles, is fed up with seeing .057% of the population siphon off enormous bonuses from the financial system while the other 99.943% of us don’t do quite as well. If Goldman’s board does decide to award Blankfein a $100 million bonus, it would be 47% more than he got in Goldman’s previous record year — 2007.