Goldman Sachs exec defends bonuses at ethics debate


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Published in Reuters October 20, 2009 by Georgina Cooper
Bumper payouts to bankers should be seen as part of a longer term investment in London’s economy, the vice chairman of Goldman Sachs International told a debate on ethics at St Paul’s Cathedral on Tuesday.
Defending lavish bonuses expected at the U.S. investment bank, Brian Griffiths said he was not “ashamed” of his bank’s compensation package, which has inflamed the bonuses debate.
The British public should “tolerate the inequality as a way to achieve greater prosperity for all” Griffiths said at the public meeting examining what role morality should play in the marketplace.

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