Sep 24, 2008 10:08 AM
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New York, 9:51 PM
Sat Mar 20
20 posts in the last 24 hours
So if investment banks are taking shelter from the financial shitstorm by morphing into commercial banks, does that mean Wall Streeters will soon have to deal with getting paid like commercial bankers, too? Good question! Goldman Sachs chief Lloyd Blankfein took home $70.3 million last year; JPMorgan Chase's Jamie Dimon collected $27.8 million; and Lehman Brothers chairman Dick Fuld walked away with $35 million. Of course that's not what their counterparts in commercial banking are making. Bank of America's CEO, Ken Lewis, earned a meager $16.4 million last year. (We're weeping, too.) "I think they [investment banks] are going to have to come more in line with a more traditional compensation plan," says one expert. Guess you might have to wait a few more years before you can afford that loft in Tribeca or four-bedroom in Scarsdale! [NY Post]
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