Progressive Graffiti

Wall Street Banks Highly Profitable… to CEOs

The Rot of Wall Street Stinks All the Way to the Bank

This year, even though the Wall Street bosses have presided over a 30 percent drop in their banks’ profits, they’ve extracted a 15 percent raise in overall bonus money, totaling a ridiculous $27 billion.

That averages out to $165,000 in extra pay to each Wall Street banker. But averages deceive, for thousands of lower-level bankers are given a dab, while those up in the executive suites make off with the bulk of the bonus heist.

Jim Hightower, AlterNet

About the author

JoAnn Chateau

JoAnn Chateau likes progressive politics and loves the canines. She sometimes writes fiction about Chester (the Alpha Bichon) and his friends -- with a dash of humor and dab of Poli-Sci. JoAnn's views and insights are tinted by her past profession in Counseling, Christian theological studies, and Library and Information Science training. Retired now, JoAnn enjoys the creative life.

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