Will Goldman Sachs Defy President Obama And Pay $100 million? (GS)

Goldman Sachs (NYSE: GS), the richest investment bank, may be planning to pay its CEO a bonanza payout of $100 million as bonus. This would be in strict defiance of strictures by President Obama and his resolve to counter such moves.

Goldman Sachs is also reported to be on the verge of making the largest ever payouts to its top executives. These are moves that would certainly draw ire from President Obama who said last week, “The American people understand that we have a big hole to dig ourselves out of, but they do not like the idea that people are digging a bigger hole, even as they are being asked to fill it up”.

President Obama has labeled such huge payouts by banks as being irresponsible as well as shameful. Goldman Sachs could be at the center of a showdown and acrimony with Washington, due to these payouts.