REPORT: Wall Street Pays Out Billions in Record Compensation

[Panaconda]

Wall Street Pays Out Billions in Record Compensation: Report

WASHINGTON — Financial institutions on Wall Street are preparing to pay a record 144 billion dollars in compensation and benefits, according to a study published Tuesday in the Wall Street Journal.

The payout, covering bonuses, premiums and stock options for the firm's executives and employees, is a four-percent raise over the previous record 139 billion dollars that was handed over in 2009, said the financial daily.

The study, which covers 35 Wall Street firms -- including banks, investment banks, hedge funds and money managing groups -- found that 29 of the institutions were also expected to see revenue rise by three percent, from 433 to 448 billion dollars.

The 2010 profit for the firms of some 61 billion dollars is still a 20 percent decline on the 82 billion dollars in 2006 -- despite in that time compensation at the institutions soared 23 percent, according to the Journal.

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http://www.commondreams.org/headline/2010/10/12-2

[spartan61]

1. PIGS!!!!!

[ljm2002]

2. And yet regular working people...

...continue to bash unions, contending that union demands are unreasonable.

We have failed badly in the messaging department, allowing the last 30 years of unimpeded right wing propaganda to turn people against their own best interests.

The real issue of course is the income and wealth disparity that this article so clearly shows is only worsening.