Goldman Sachs promotes "poor CEO" story

Oh please. This story about the Goldman CEO's salary dropping 98% is incredibly misleading. The first thought that crossed my mind was "how much did he make in 2007" when he was still cashing in on selling worthless (to everyone except AIG) trash? One of the missing issues remains the past payments and no matter how much the businesses take off the books, the bonuses remain untouched. Somehow we're supposed to sympathize or be in awe that Goldman CEO Blankfein allowed his compensation to fall to a paltry $1.11 million. Stout fellow! Hang in there!

If the Andrew Cuomo investigation into AIG links to Goldman Sachs, what is Goldman going to do if they are suddenly faced with even greater write-downs? Goldman has been treated like royalty so far thanks to Paulson and now Geithner but this could change very quickly if Cuomo's investigation starts asking tough questions. One of these days Congress and the White House are going to wake up on this as well and then Blankfein will be thankful for anything above $1.