×

Off The Record With Charlie Gasparino: Goldman Sachs

As you may know Goldman Sachs came under considerable scrutiny earlier in the year when the firm announced record breaking profits – and as a result record bonuses.

If results stay on track the firm will hand out more than $20 billion in year-end bonuses – the equivalent of more than $630,000 per employee.

A few weeks back, the bank's chief financial officer, David Viniar, expressed a degree of frustration at how much attention is being focussed on Goldman's compensation.

And he defended the bonuses as necessary to attract and retain top talent. "Our competitors are very good, our competitors are paying people very well and they're willing to hire people with guaranteed bonuses."

But don't go thinking they're all getting big fat checks or that a dump truck loaded with money is going to back up into their garages.

They want to pay out these bonuses in the most politically sensitive way possible, explains CNBC’s Charlie Gasparino.

I’m hearing Goldman will pay its top 15 producers all in stock. And the next top 500 producers will probably receive a cash and stock mix.

And I expect to see Lloyd Blankfein doing some public relations campaigns, including a blow-out spread in Vanity Fair.


______________________________________________________
Got something to to say? Send us an e-mail at fastmoney-web@cnbc.com and your comment might be posted on the Rapid Recap. If you'd prefer to make a comment but not have it published on our website send those e-mails to fastmoney@cnbc.com.

Trader disclosure: On October 29th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Seymour Owns (AAPL), (AA), (BAC), (BX), (EEM), (MYL), (INTC), (MSFT), (VALE); Seymour Is Short (FXI); Grasso Owns (AAPL), (ABK), (BA), (C), (COST), (PFE), (WMT), (FAZ); Terranova Owns (IBM), (QCOM), (GS); Finerman Owns (BAC), (PDE), (TGT), (WMT); Finerman's Firm Owns (PDE), (FLS), (RIG), (TBT), (YUM); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO), (UNG), (TLT); Jon Najarian Owns (INTC) Calls, Jon Najarian Owns (AMD) Calls

For Steve Grasso
Stuart Frankel Owns (MSFT)
Stuart Frankel Owns (PFE)
Stuart Franked Owns (SDS)




CNBC.com with wires