Goldman Sachs Employees Need Bailout

According to the New York Times, Goldman Sachs has offered to lend money to more than 1,000 staff that have been personally hit by the credit crisis.
By None

According to the New York Times, Goldman Sachs has offered to lend money to more than 1,000 staff that have been personally hit by the credit crisis.

The e-mail to employees stated that the loans could range from a few thousand dollars to hundreds of thousands.

Many in Goldman had money invested in the company’s elite investment funds, some of which fell over 50% in 2008. However many are contractually obliged to make payments into these in-house funds, and a capital call is lined up this April.

With many unable to meet this call due to smaller bonuses, they may be forced to take the loan offer or face redundancy.

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