At Goldman Sachs, Christma$ Might Come Early This Year

by Derek Loosvelt | November 01, 2010

  • My Vault

Call it gaming the system or throwing its employees a few bones, Goldman Sachs might break from tradition and pay out bonuses before the end of the year in order to take advantage of Bush-era tax cuts, which are set to expire on December 31, 2010. If nothing's done by U.S. Congress to extend the rates, then those making big bank at Goldman will be forced to fork over 39.6 percent of their incomes, as opposed to 35 percent (which amounts to $46,000 for every million dollars in compensation).

So far, according to CNBC, other banks such as JPMorgan Chase, Morgan Stanley and Bank of America have not considered a similar move.

Filed Under: Finance

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