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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

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JoAnn Chateau

JoAnn Chateau likes progressive politics and loves the canines. She writes fiction about an alpha Bichon named Chester, and his friends--with a dash of humor and a dab of poli-sci. JoAnn worked professionally in the Psychology and Information Science fields. Retired now, she enjoys the creative life.

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