Goldman Tries to Distract Critics From Its Huge Bonuses
Charlie Gasparino
In an effort to reduce criticism over distributing $20 billion in bonuses, banking giant Goldman Sachs will likely either give away most of its bonuses in the form of stock, or significantly increase its charitable donations, according to sources close to the bank.
Top executives' bonuses typically break down to equal about 50 percent from stock and 50 percent from cash, while lower-level executives get about 20 percent in stock.
But one year after receiving billions of dollars in bailout funds from the government, sources told CNBC that both of those groups will likely see a rise in their stock compensation to try to reduce remarks from Wall Street critics.
The firm likely won't make a decision until closer to the end of the year.
Goldman releases its third-quarter earnings report Friday.
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