Author: admin
• Saturday, July 31st, 2010

In a significant development, Goldman Sachs Group is considering repaying federal debt it received as part of the rescue efforts during the economic slowdown last year. This has become possible as GoldmanSachs outperformed the prediction of analysts and recorded a 54% jump in its stock price and reported a phenomenal profit of $1.81 billion in the first quarter.The bank is planning to raise $5billion, in an effort to repay federal debt. This is in lieu of the criticism by lawmakers about the exorbitant executive salary offered by top companies to their senior people, which have been cited as one of the reasons for the economic debacle. Companies availing of the TARP funds are required to adhere to the limits on executive pay. The repayment of debt by Goldman Sachs will ensure that it can come out of this ceiling imposed on salary.

Category: general  | Tags: ,
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