Although it may not be quite as stunning as the $3.4 billion in earnings that Goldman Sachs reported in the last quarter, the IFC has released its results for fiscal 2009, with the respectable result of $299 million of net income in a period of severe financial crisis. As part of its effort to help the poorest countries cope with the crisis, the IFC transferred $450 million to IDA, the concessional lending arm of the World Bank Group. Goldman had slightly different plans for its outsized profits—according to the Economist:
For the year to date Goldman has set aside $11.4 billion for compensation and benefits, more even than in the halcyon first half of 2007. Its ratio of pay to revenues continues to hover near the dizzying 50% level that was the norm on Wall Street before the meltdown.
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