Goldman Sachs CEO received $68 million bonus in 2007

Goldman Sachs (NYSE:GS) top 7 leaders including Chief executive Lloyd Blankfein have given up their 2008 bonuses, according to a spokesperson for the company.

Due to Goldman Sachs poor performance, Blankfein along with the other 6 company directors asked the companies central committee who are responsible for the bonus handouts not to make any bonus payments to them, the committee accepted their request.

For other executives the bonuses will depend on how much the company has earned, Goldman Sachs 2008 cycle ends in November.

Blankfein in 2007 received a whopping 68 million dollar bonus, added to his 600,000 dollar wage packed this was despite a subprime mortgage crisis looming.

Since the start of the year Goldman Sachs shares have tumbled 70 percent.

Source: APGoogle