Goldman Sachs’ Lloyd Blankfein: Wall Street needs new compensation, hedge fund standards

Chicago Tribune – The chief executive of Goldman Sachs Group Inc. called for new standards on how Wall Street executives are compensated and new regulation of large hedge funds and private-equity funds.

Lloyd Blankfein said lessons from the financial crisis include the need to "apply basic standards to how we compensate people in our industry."

He suggested a handful of guidelines, including only junior employees being paid mostly in cash and that the percentage of pay awarded as company stock increase significantly along with a worker’s total compensation.

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