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Mar 31, 2007

Greed not so good

A cynical take on the world of executive compensation

The top three executives at Goldman Sachs have just collected over $50 mn each in compensation, while the firm’s former CEO, Hank Paulson, now Treasury Secretary, pocketed $110 mn as a parting gift. I love that term, compensation. In the universe most of us inhabit, compensation is what you get when someone has injured you. Lesser mortals who work for a living get wages or salaries, which by some mathematical law tend to be several orders of magnitude smaller than compensation. Maybe

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