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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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