WSJ reported how Goldman Sachs is adopting private equity underwriter (PEU) practices:
David Solomon is getting a bigger slice of Goldman Sachs Group Inc.’s private-equity profits.
The Goldman Sachs chief executive and a tight circle of lieutenants are taking a cut of profits from the firm's private investment funds.
Imitation is the highest form of flattery, so the greed and leverage boys must be feeling pretty good as greedy Wall Street firms conform to their PEU model.
Goldman CEO Solomon did increase its dinner stipend from $25 to $30 for employees working late. SEC filings indicate Solomon made nearly $40 million in 2021. It's hard to own a sports team with pay that little.
