It's not even a con. They come right out and tell us what they're doing to us and smile and wonder what we're going to do about it. Oh, that's right: nothing.
Major U.S. banks and securities firms are on pace to pay their employees about $140 billion this year—a record high that shows compensation is rebounding despite regulatory scrutiny of Wall Street’s pay culture.Workers at 23 top investment banks, hedge funds, asset managers and stock and commodities exchanges can expect to earn even more than they did the peak year of 2007, according to an analysis of securities filings for the first half of 2009 and revenue estimates through year-end by The Wall Street Journal.
Total compensation and benefits at the publicly traded firms analyzed by the Journal are on track to increase 20% from last year’s $117 billion—and to top 2007’s $130 billion payout. This year, employees at the companies will earn an estimated $143,400 on average, up almost $2,000 from 2007 levels.
I is disgusting. And as you noted, the worse of it is being able to do absolutely nothing. Ugh.
Posted by: Ed | Thursday, October 15, 2009 at 04:55 PM
Since you hate America so much, why don't you try living in some place like Venezuela and see how well that works for you. All the Democrats you love so well are rich people taking advantage of the middle class and poor--just look at the corruption. And don't worry, I know there's corruption on both sides. That is why government is not the answer to any of our problems. I also noticed that you haven't done any "In Memoriam" since 9/20/09. Last time I looked more soldiers have been killed since then. But, that's right, now that your beloved is in charge, the left doesn't feel the need to keep count.
Posted by: Jane D. | Friday, October 16, 2009 at 09:47 AM
Nice. Yeah Scott why do you hate America so much? I am pretty sure Goldman Sachs is America. Right?
Posted by: fish | Thursday, November 05, 2009 at 02:58 PM