SEPTA filed a lawsuit in Delaware this week against financial firm Goldman Sachs, alleging they pay their executives too much and their stockholders too little. SEPTA holds about $1M in Goldman stock.

This all comes down to one of the big contentions from last November’s strike: the pension plan. SEPTA feels that Goldman’s fees are excessive and that the company is not meeting its obligation to shareholders. The pension fund is currently said to be sound but not fully funded, and may require increased contributions in the future to remain so.

I’m going to agree with SEPTA on this one. Perhaps I’m slightly biased because I loathe a certain former Goldman-executive-turned-NJ-governor, but they certainly have a point:

"No reasonable director would approve, year in and year out, of awarding management almost 50 percent of net revenues as compensation," SEPTA officials said in the Delaware Chancery Court suit.

What do you think? Leave your thoughts in the comments.