Thursday, December 30, 2004

A Tsunami of Greed

Great article from those damned liberals at the Village Voice

As the poor of Asia count their dead, Wall Street basks in riches

The money being put up by the U.S. is nothing when compared to what’s going on in the corridors of Wall Street, where year-end bonuses for the securities industry are the big story in New York. Readers of The New York Times were greeted Tuesday morning with above-the-fold images of destruction in Asia and below-the-fold accountings of personal riches.
This year the New York state comptroller reports bonuses are estimated to total $15.9 billion. In a press release, the comptroller reports, “The $15.9 billion to be paid in 2004 divided among the approximately 158,000 securities industry employees in New York City works out to an average bonus of $100,400. This is slightly higher than last year's average of almost $99,700, and just short of the record of $101,000 paid in 2000 at the peak of the last Wall Street boom."

Also: More news about the continuting devastation.

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