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Journal SPAM: Wall Street: $38 Billion of Bonuses as Shareholders Lose 6

Journal by Jeremiah Cornelius

Wall Street Plans $38 Billion of Bonuses as Shareholders Lose

Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion.

That money, split among about 186,000 workers at Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos., equates to an average of $201,500 per person, according to data compiled by Bloomberg. The five biggest U.S. securities firms paid $36 billion to employees last year.

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Wall Street: $38 Billion of Bonuses as Shareholders Lose More

Wall Street: $38 Billion of Bonuses as Shareholders Lose

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  • The Bill Moyer's show hosted the CEO of the Vanguard group. He said that the American markets are in serious trouble partly because of this swindling by the corporate leadership. It was really a strangely damning statement, especially considering who it came from, and I didn't convey it correctly. If my bandwidth wasn't so low right now I'd search for the clip on youtube.
  • Short of the Rothschild banks and the Rockefeller groups, every other name on that list (Brothers Harriman also is omitted) are all part of the group that gave birth to our Federal Reserve and remain among the key shareholders in the Federal Reserve of the USA. Guess who owns your paper cash, and as a result, you?

    These people. They're not abusing you, they're merely using their property as they so desire. Do you get upset when your kid kills Super Mario in that game he's playing? Why not? Because he ow
  • Yes and ... so what

    Is it news Wall St profits ?

    News that they are paying their people even when their shareholders see the stock price slump?

    This may be many things (greedy, stupid, unethical, immoral) but it is not illegal. The shareholders are free to sack the board and replace them. If they are stupid enough to keep going back for more, then let them.

    In fact now would be a bad time to let your best talent go. Check the finance indutrsy page again at Bloomberg (or use the Google News archive targetted

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