Franchise Publicity
Publicity for growing franchise companies
Browse: Home / Wall Street Set to Give Out Record Bonuses

Wall Street Set to Give Out Record Bonuses

By Miranda Marquit on November 9, 2009

Looking at Wall Street right now, you would never know that we just came out of a recession. And it is worth noting that for most regular folks, the end of the recession is merely a technical economic detail. Individuals still face a number of financial challenges, and with the weak labor market, it is little surprise that things most of Main Street is still wonder whether things are going to pick up. For thousands of Wall Street folks, though, that is not much of an issue. They just found out that they will be enjoying record bonuses.

Wall Street firms prepare to pay $30 billion in bonuses

534px-Wall_Street_&_BroadwayGoldman Sachs, JPMorgan Chase and Morgan Stanley all received taxpayer help, and made the news due to bonus programs last year — which were enabled in part by the taxpayer help. Now it appears that Wall Street is ready for more. The bonuses are expected to surpass the last high, reached in 2007, before the financial market collapse, of $26.8 billion. And it really doesn’t matter what anyone says. Bloomberg reports on what seems to be the prevailing attitude on Wall Street:

“Wall Street is beginning to resemble Clark Gable as Rhett Butler in the film ‘Gone With the Wind’: ‘Quite frankly, my dear, I don’t give a damn,’” Paul Hodgson, a senior research associate on compensation at the Portland, Maine-based Corporate Library, said in an e-mail. “It doesn’t seem as if even political threat, disastrous PR, envy, rising unemployment rates and home repossessions is enough to get any of these people to refuse the bonuses they have ‘earned.’”

Clearly, Wall Street has policy makers nicely sewn up, and populist outrage doesn’t affect Wall Street because it clearly does little to prompt lawmakers to take action. So, while thousands stand in unemployment lines this holiday season, it will be little comfort to know that their Wall Street counterparts are enjoying record bonuses.

Image source: Fletcher6 via Wikimedia Commons

  • StumbleUpon
  • Digg
  • Facebook
  • Mixx
  • Google
  • TwitThis
  • Reddit
  • Yahoo! Buzz
  • Slashdot
  • E-mail this story to a friend!
  • BallHype
  • YardBarker

Post from: EveryJoe

Wall Street Set to Give Out Record Bonuses


Posted in ALL | Tagged franchise news

« Previous Next »

Welcome!

Welcome to Franchise Publicity - the writer's and bloggers resource for franchise and business stories and information.

Categories

ALL
COMPANIES
Deli Delicious
Ali Nekumanesh
PIRTEK Franchise
Sometimes Spouse
Dennis Mason
FEATURED
FEATURED 1
FEATURED 2
FRANCHISE 52
FRANCHISE ATTORNEYS
David Kaufmann
FRANCHISE LAW FIRMS
Kaufmann Gildin Robbins
FRANCHISE OPPORTUNITIES
Home Improvement Franchise
FRANCHISEE STORIES
INPUT INVITED
Joe Smith
NEWS
NY Bagel Cafe Franchise
NYC Bagel Scam
SPOTLIGHT
SPOTLIGHT 1
x General

NETWORK




Search

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Copyright © 2023 Franchise Publicity.

Powered by WordPress, Hybrid, and Hybrid News.