Goldman Sachs Alters Bonuses in Response to Uproar

Goldman Sachs announced Thursday it will not give its top 30 employees cash bonuses this year and will give shareholders a say in employee compensation, the New York Times reports. The resurgent investment bank is having one of the best years in 140-year history after a government bailout and was set to award billions to its top executives. Instead, they will receive special stock that must be held for five years.

Goldman's flourishing status has angered many Americans still waiting for the economic recovery. Several banks have taken steps to respond sensitively, including canceling cash bonuses and paying back bailout funds.