Better late than never.
Goldman Sach's new compensation plan is getting good PR traction. Read here.
It's been a scandalous mystery why the largest institutional shareholders of "too big to fail" Wall Street firms had refrained for so long to go public criticizing on behalf of their own shareholders on Main Street regarding the many shenanigans these Wall Street firms had engaged in. Finally, one of institutional investors has done so albeit indirectly by praising the latest Goldman Sachs action to cut its cash bonuses to its principal officers.
By praising Goldman, the country's largest pension fund for academics TIAA-CREF, is in effect saying Goldman's scrapped plan was not kosher.
Goldman's new compensation plan has gone some ways to dampen the anger on Main Street, though by no means entirely.
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