Goldman Sachs|Goldman Sachs Bonus|Goldman Sachs News

Goldman Sachs|Goldman Sachs Bonus|Goldman Sachs News

Goldman Sachs|Goldman Sachs Bonus|Goldman Sachs News-The investment bank Goldman Sachs said Thursday morning that it earned $3.19 billion between July and September, largely through the success of its own investments.

The New York company has emerged as the great beneficiary of the government’s massive efforts to revive Wall Street. Preserved from failure by federal aid, trading in markets revived by federal aid,Goldman Sachs has recorded some of the largest profits in its long history.

The company’s third-quarter earnings amounted to $5.25 a share, compared with $810 million or $1.81 a share during the same period last year.

Goldman’s chief executive, Lloyd C. Blankfein, said the broader economy was starting to recover.

“We are seeing improving conditions and evidence of stabilization, even growth, across a number of sectors,” Blankfein said in a statement accompanying the results.

Goldman awards much of its revenue to its employees. The company said it spent $5.35 billion on compensation in the third quarter, an increase of 84 percent over the same period last year.

Blankfein has strongly defended the company’s pay practices, noting that employees are paid for success.

But members of Congress and other critics have blasted the bonuses as excessive, particularly because the company’s current success has been heavily boosted by federal aid.

Goldman took $10 billion in federal aid from the Treasury Department, which it subsequently repaid. It borrowed billions more with the help of the Federal Deposit Insurance Corp. The company also borrowed from the Federal Reserve’s emergency lending programs, although both the company and the Fed have declined to disclose the amount of aid provided.

In a modest nod to its critics, the company underscored Wednesday that it is slightly reducing the share of revenue devoted to compensation. Through the first nine months of 2009, it said it has spent 47 percent of revenue on pay, compared with 48 percent last year.

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