Goldman Sachs Chief Executive Lloyd Blankfein to get $9m stock bonus

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Goldman Sachs on Friday took a dramatic step to stem the public backlash against its compensation practices, awarding chief executive Lloyd Blankfein a $9m stock bonus for 2009, far lower than his payouts during the boom years that preceded the financial crisis.

The board’s decision to limit Mr Blankfein’s bonus after Goldman had delivered a record profit in 2009 is sure to stir debate on Wall Street and in Washington, where officials have singled out the bank as a symbol of the financial services industry’s out-of-control pay practices.

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