Tuesday, October 12, 2010

Recession is over -- on Wall Street

Unless you're a WSJ subscriber, don't bother to click the link, it's behind the paywall, but here's the money quote:
About three dozen of the top publicly held securities and investment-services firms—which include banks, investment banks, hedge funds, money-management firms and securities exchanges—are set to pay $144 billion in compensation and benefits this year, a 4% increase from the $139 billion paid out in 2009, according to the survey. Compensation was expected to rise at 26 of the 35 firms.
A lot of these people deserved to be indicted. Instead they're handsomely rewarded for gaming the system for their own profit. This is why the voters are pissed off at Democrats. Scapegoating Bernie Madoff for an entire industry's de facto criminality wasn't enough. A few more frogmarches would have gone a long way to sating the public anger.

Labels: , , ,

Bookmark and Share


Post a Comment

<< Home