Goldman only awarding equity bonuses to executives in 2009 (stock cannot be sold for five years!)

Pretty hot in light of the British move yesterday. Check the WSJ alert that just came up on my handheld:

Goldman Sachs says its top executives won't get cash bonuses in 2009 and will instead receive stock that cannot be sold for at least five years. In addition, shareholders will have an advisory vote on the firm's compensation of executives at the annual meeting in 2010.

The investment bank saw its third-quarter profit soar as rallying equity markets led to trading gains and strong investment performance. The firm had set aside $5.35 billion for benefits and compensation during the quarter, putting bonuses on track to set a record this year.

Wall Street has come under severe criticism in the wake of last year's financial crisis, with critics saying that the Street's compensation regime led its players to focus excessively on short-term gains.

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