From HX Topic: Is America Broken? - And what does this mean to Haiti.
Wall Street bankers earn more than ever
Feb 2, 2011, 16:55 GMT
New York - Less than three years after the financial sector was brought to the brink of collapse, bankers on Wall Street are once again making more money than ever.
The 25 largest financial firms paid their employees a record total of 135 billion dollars last year, up 6 per cent from 2009, The Wall Street Journal reported Wednesday. Salaries and bonuses had fallen to 112 billion dollars in 2008.
About one third of financial firms' revenues went into worker earnings. The average Wall Street banker enjoyed earnings of 141,000 dollars, up 3 per cent.
Part of the expansion came from firms hiring new workers as the US financial sector has stabilized. The salaries varied widely - from an average of 431,000 dollars for Goldman Sachs employees to 257,000 dollars at rival Morgan Stanley.
In response to the public outcry that reached its peak during the 2008 financial crisis, many Wall Street bankers are getting money through fixed salaries and long-term stock options that link them to the financial future of the firm, instead of lavish bonuses.
The move is aimed at curbing some of the excessive risk taking that was blamed for the financial crisis, which reached a fever pitch with the collapse of Lehman Brothers in September 2008.
Copyright: Deutsche Presse-Agentur
"We are reaching a culmination of this cycle, one of living in the dark (lacking truth and knowledge), one of misperceptions on many levels, one of corruption, ego, greed, power and hate. The current economic state is the beginning of this tearing down of the old, corrupt system. We have to understand what this cycle has been about and why it is not sustainable, bringing this knowledge forth to the new world, so as to not repeat our mistakes, thus enhancing the future.”
More naive, esoteric BS from the Great Papaille! Hah!
Yes, yes, Federal Spending is good and capitalism is evil.
You fool. You talk as if socialism hasn't been tried before.
You can put new lipstick on it , but it's still ugly.
Yes! BIG, Democrat Party, Federal Spending will save the day!
To hell with capitalism!
What a baboon.
Yes, yes, Federal Spending is good and capitalism is evil.
Capitalism? Is that what we still calling it?
Still saving those currencies in the bank, Gunner?
Still diversifying your investments, Gunner?
Good luck with that, Old buddy....
ARBITRAGE.
Do you think I have any confidence in Obama, Pelosi, Reed?
LOOK at the "devaluation" of the USD.
"We" can blog about this all day long, but the fact of the matter, is that the "greenback" is losing "perceptional" value versus gold.
Why? Because Papaile's BIG government spending on "worthless people" is hurting the USD's.
His (Obama's) cronyism (as witnessed in his "love" for Haitians) is killing our prospects.
Arbitrage my friend. Arbitrage.
ARBITRAGE.
Do you think I have any confidence in Obama, Pelosi, Reed?
LOOK at the "devaluation" of the USD.
"We" can blog about this all day long, but the fact of the matter, is that the "greenback" is losing "perceptional" value versus gold.
Why? Because Papaile's BIG government spending on "worthless people" is hurting the USD's.
His (Obama's) cronyism (as witnessed in his "love" for Haitians) is killing our prospects.
Arbitrage my friend. Arbitrage.
Classic!
Edit of title: S and P
