You have to hand it to Goldman Sachs. Ever since the bank became the de facto scapegoat for everything wrong with the financial system, it's been trying hard to prove to the public that it's not the spawn of Satan. To date, it's launched a small business program, set aside millions for charity donations, and even taken in wayward kittens.
Now it's going one step further toward mollifying its perhaps most vehement critics: the London mob seething with anger at jumbo bonuses. It will cap the salary and bonuses of London partners at 1 million pounds. About 100 employees will be affected. Goldman's compensation allocation is expected to hover around 40% of revenue, the lowest percentage in years.
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While the regulator might need a fearless crime fighter at its helm, don't count on fraud investigator Harry Markopolos getting the job. While he's got all the energy and passion needed, his new book is raising some eyebrows.
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Forbes released its annual list of the world's billionaires, and to no one's surprise, several finance pros make the list. We investigated those who appeared highest on the list to see how they climbed the lofty peak of billionaire-hood.
Job candidates are back in the driver's seat in Hong Kong's financial center. International banks are leading the recruitment drive, but hedge funds and private-equity firms are looking to staff up as well.
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