Oh, this is too precious. Gawker's John Cook proves you can't say Goldman Sachs doesn't take care of their own:
Wall Street is cutting back on cash bonuses, which means paper-rich banksters are forced to choose between preschool tuition and new wine cellars until their restricted shares mature. Goldman Sachs is lending a hand by offering mortgages to its staff.The home run element of this story was their turning up mortgage papers for one Rodney O. Martin. Goldman provided a sweetheart mortgage on a $4 million dollar Central Park apartment - at 4.8% (sweet!). Goldman's chief credit officer executed the mortgage.
According to the Journal, Goldman Sachs has let "a small number of employees" take out loans, but the bank claims that they carry normal interest rates and must be paid back. We took a look at New York City property records to see if, like Condé Nast, Goldman ever sweetens its compensation packages with no-hassle mortgages for employees. The answer is yes, for a few people at least. And from what we can tell, it seems that Goldman began the practice right around the time the economy began collapsing and nobody in the world could get a mortgage.
That's kinda special treatment, but then Rodney's a special guy:
He's the COO of AIG's life insurance unit.
Zing!
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