Executive Pay Overhaul Gets Backing from Goldman Sachs CEO

by Benjamin Domenech on 9:16 am April 8, 2009

Reporting from Los Angeles and New York — The campaign to clamp down on executive pay is getting an assist from an unusual source: the head of Wall Street’s most powerful investment bank.

Lloyd Blankfein, chief executive of Goldman Sachs Group Inc., said Tuesday that the financial industry needed a “renewal of common sense” and pay standards to “discourage selfish behavior, including excessive risk-taking.”

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