Goldman Executives Turn Down Bonuses... What?

As a picked up the Wall Street Journal this morning, I was met with a headline that appeared utterly ridiculous, and farcical in my eyes. "Goldman Chiefs Give Up Bonuses," under it also stating,  "Seven Top Executives to Forgo Millions in 2008; Move Could Pressure Other Firms." I nearly fell out of my seat reading such a headline. After I peeked outside of my kitchen window, seeing if pigs were flying, I began to ponder about what I had just read. With such economic turmoil occurring in our nation, I guess that it was a magnanimous thing for them to do. I mean as hundreds of thousands of people lose their jobs, it's quite refreshing to see big-whig executives turning down bonuses, which I have historically been quite wanted.

However, they are in no way obligated to do such a thing, and regardless of what is occurring in the grand scheme of things, it seems as if they are simply trying to help their company through hard times, by helping cut down on expenditures, even if it means they will feel it immediately through their paychecks. Moreover, without their bonuses, perhaps Goldman Sachs will be able to better utilize that cash in the future, and increase their bottom-line, thus propelling the company speedily out of this rough patch. With this, they could arguably make even more money, while also helping the company. 

In short, I can truly say that I'm much more apt to purchase Goldman stock with such an announcement, with such great gentlemen at the top of the firm.