Shocked, I’m shocked!

Well no, I’m not shocked:

For Goldman Sachs CEO Lloyd Blankfein, an embarrassment of riches has turned into embarrassing riches.

Goldman’s bonus pool is expected to swell to an estimated $16 billion after what’s expected to be another stellar quarter, and Blankfein is struggling to figure out how to pay his employees in a way that keeps them happy while avoiding another round of populist and political outrage like the bank experienced over the summer. …

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Goldman accepted $10 billion in government rescue funds to help it stay afloat last year as the credit crisis roiled the entire market. The bank, however, bounced back sooner than its rivals, leading some observers to think the bank leveraged its government subsidies to churn out bigger profits.

There’s a lot of talk about limiting executive pay and that sort of thing - populist feel-good stuff, I don’t support that.

But if (or when) the next bubble bursts - no bailouts. For Goldman, or anyone else.