On Street, Pay Vaults to Record Altitude

On Street, Pay Vaults to Record Altitude

online.wsj.com

When it comes to paychecks, Wall Street's law of gravity is back in full force: What goes down must come back up.

In 2010, total compensation and benefits at publicly traded Wall Street banks and securities firms hit a record of $135 billion, according to an analysis by The Wall Street Journal. The total is up 5.7% from $128 billion in combined compensation and benefits by the same companies in 2009.


The increase was fueled by a revenue rebound as the financial crisis recedes in the rearview mirror. At 25 large financial firms that have reported full-year results, revenue rose to $417

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money.msn.com
www.the corporateobserver.com

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Just wonderful.

To be clear, this is data compiled from last year, 2010. I find it rather sickening that we had another record year for Wall Streets compensation for doing a A+ job at helping to manage this countries financial troubles.

We need to start managing our priorities better. I cannot understand how people can make so much money for doing essentially nothing productive. These people do not create. They just move numbers around on spreadsheets to make money. I have a strong sense of distrust for anyone who chooses this as a career path.

What do you guys think?

online.wsj.com
(visit the link for the full news article)

reply to post by VonDoomen


I think I am very good at spreadsheets and numbers and should have chosen that career path!

Seriously though if a private entity wishes to pay an obscene sum of money to a voodoo practitioner that is their business. And it is our business to determine which companies do that and boycott them.

If it is taxpayer money being paid it is our business to complain, yell, scream, and raise hell until it stops.

If something is important enough to you you aren't powerless to stop it, it just might take a lifetime of dedication and wok to change...

Thank God there will never be another Wall Street when this one plays out, which will be very, very soon I hope. They contribute Absolutely NOTHING to society.....