Thursday, October 2, 2008

Paulson and Wallstreet

Found this googling Paulson and wallstreet. The comments were pretty interesting, as well. Just to give you a better idea about the guy who requested 700 billion to bail out banks with no strings attached....
[Todd Zywicki, September 26, 2008 at 11:55am] TrackbacksHank Paulson's Wall Street Days:Looks like the boom/bubble years on Wall Street served Hank Paulson pretty nicely:
Executive compensation: As Goldman's chief, Paulson received an $18.7 million cash bonus for the first half of 2006, and in 2005 he was the highest paid chief executive officer on Wall Street, reaping $38.3 million in salary, stock and options. He also accumulated 3.23 million shares of Goldman's common stock worth $492 million, plus restricted shares worth $75.2 million and options to purchase 680,474 shares, according to a Goldman regulatory filing on July 2, 2006.
He sold the shares in 2006 when he took the Treasury job:
Paulson sold his 3.23 million shares in Goldman, worth about $500 million at the time, when he took the Treasury job, according to regulatory filings. He was exempted from paying capital gains tax on the sale of those stakes under a rule meant to avoid penalizing wealthy people who take government jobs and are forced to sell assets....

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