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 Wall Street Journal reported today that, since bankers are getting “squeezed” by the billions in dollars in lousy stock certificates being showered on them, their employers are coming up with creative ways to compensate them , including “loans” that they don’t have to pay back until they leave the company: “I know it sounds ridiculous to Main Street, but it’s a hardship,” says Gary Goldstein, who runs Whitney Group, a financial-services job-search firm in New York
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No Bonus? No Problem! Goldman Sachs Offers Mortgages to Cash-Strapped Bankers
