Wall Street Bonus Madness

“From 2002 to 2008, the five biggest Wall Street securities firms [Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley] paid an estimated $190 billion in bonuses. Those companies churned out $76 billion in combined profits during the same period. Last year, the companies had a combined net loss of $25.3 billion, yet paid bonuses of roughly $26 billion.”
Lucchetti, Aaron and Matthew Karnitschnig. 2009. “On Street, New Reality on Pay Sets In: Financial Firms Race to Reset Compensation Policies as U.S. Government Aims to Set Some Limits.” Wall Street Journal (31 January): p. B 1.
http://online.wsj.com/article/SB123336341862935387.html?mod=todays_us_money_and_investing

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