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Wall Street to Pay Out Record Bonuses in 2010

They've earned it, right? 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. If you're struggling this year, fret not.  When Wall Street spends the money you and other taxpayers used to bail them out, guarantee their debt, and buy their securities at above-market prices: Some of that will trickle down to you. Or you could read the Declaration of Independence.  Really read it this time.  Stop pretending you've read it because you can quote the first few lines...continue to full post

Full post as published by Crime & Federalism on October 12, 2010 (boomark / email).