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What You Should Know / January 14, 2010

laughing1 -- Wall Street’s payout for 2009: $145 billion By Daniel Tencer If you still needed statistical proof that the folks on Wall Street have become entirely detached from reality in the wake of the massive taxpayer-funded bailout of their colossal mistakes, here it is. The 38 largest financial institutions on Wall Street will pay out a total of $145.85 billion in compensation for 2009, an 18 percent increase over 2008 and "slightly more than in the record year of 2007," the Wall Street Journal reports. (By "slightly," the Journal means a 6 percent increase over 2007, amounting to some $8 billion.) Contrast this with the state of affairs on Main Street, where average earnings increased 2.2 percent in 2009 -- and that number excludes the 7 million jobs lost since the recession began.

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1 Comment

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  • 1. fajensen  |  January 15th, 2010 at 5:27 am

    folks on Wall Street have become entirely detached from reality

    No, they make reality; Specifically the reality is that they own the government and since you lot all work for government (directly or through taxes) they own you too!

    Happy peonage, losers!

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