Lloyd Blankfein is Turning Me Into a Commie
Someone sent me a link to this article in Radar Online, about how Goldman Sachs CEO Lloyd Blankfein is spending his $53.4 million 2006 pay check:
Now he's aimed his checkbook at the fabled "Old Trees" estate in Southampton and fired away, buying the place for a staggering $41 million. Not only is the 1911 estate located on swanky First Neck Lane, it's a spacehog, swallowing up 10.6 acres on Lake Agawam.
There's a clay tennis court and an ocean-view swimming pool with a heated walkway from the main house—exactly the sort of adult playground gear you'd expect to find in tony Southampton. But even the "cottage" on this estate has 13 bedrooms and a dining room that seats 60. Another guest house, the modestly named "Tulip Cottage," has three bedrooms and a heated pool of its own. The "barn," built in the 1800s, has three bedrooms, too, and massive entertainment space.
A nice beach house. Of course, he could divide it up into apartments and make it a nice dacha for the proletariat.
Sorry, I just had to say it. Excessive Wall Street consumption brings out the Commie in me. I know: it's not fair to say that, he earned every penny, he'll probably throw some rubles at United Way, blah blah blah.
© 2007 Gary Weiss. All rights reserved.
Wall Street Versus America was published by Penguin USA on April 6.
Click here for its Amazon.com listing and here for more information on the book, from my web site, gary-weiss.com.
Labels: executive compensation