CEO shatters record with $53 mil. payday

NEW YORK -- John Mack's record for the biggest bonus ever paid to a Wall Street CEO didn't last even a week. It was smashed by the $53 million that Goldman Sachs gave its chief executive, Lloyd Blankfein.

The bonanza for Blankfein included a cash bonus of $27 million, with the rest paid in stock and options. He took the helm of the investment bank in June after President Bush nominated Henry Paulson for Treasury secretary.

The record payday breaks the one set just last Thursday when Morgan Stanley disclosed that it paid CEO Mack $40 million in stock and options. Mack, who is 62, rejoined Morgan Stanley 18 months ago to turn around the company after the ouster of Philip Purcell.

Mack's short-lived record bested one set in 2005 by Goldman's Paulson, who was given $38 million.

The bonuses come in a year in which Goldman shareholders have benefitted from a rise of 58 percent in the company's share price, the strongest returns of any Wall Street investment house.

AP