Saturday, August 1, 2009

Update: The Latest Wall St. Bonus Numbers

Hold on to your hats cause you are about to have your hair blown back!

2008 was a disastrous year for the big banks of Wall Street. But that didn't stop bonuses. It's a well covered subject but a new report out by New York's Attorney General Andrew Cuomo is raising eye brows. The report finds the 9 firms that received the most federal bail out money actually gave out $1 million bonuses to 5,000 employees. That's right -- the banks that got taxpayer dollars to stabilize their crisis -- actually handed out million dollar bonuses to thousands of their traders. The lesson appears to be no matter how bad the economy, no matter how much pain their is felt by their investors, Wall Street will still take care of it's own.

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