At the start of this year, Goldman Sachs changed their normal bonus payout schedule so that top earners could avoid any tax increases related to the fiscal cliff. This was done even though CEO Lloyd Blankfein publicly stated his willingness to pay more to address what he claimed was a critical issue for the US.
How thoughtful of him to run away when his time came to help pay back America for being so generous to Goldman Sachs.
Here we are, a few weeks later, and there’s Goldman Sachs once again gaming the system. But this time it’s in the UK.
These banks are serial abusers, sponging every cent they can squeeze out of governments — but when it’s their time to contribute, it’s a different story.
Disgraceful, but this is what happens when we rescue bankers with few strings attached:
Goldman Sachs is considering delaying bonus payments in the U.K. until after April 6, when the top rate of income tax in the country will drop to 45 percent, from 50 percent, a person familiar with the bank’s operations said on Sunday.
The strategy relates to bonuses that were deferred from 2009, 2010 and 2011, the person said. The Financial Times reported the news earlier today.