Wall Street bonuses climbed 17% to $20.3 billion last year as stock and corporate bond markets rebounded strongly on the back of unprecedented monetary and fiscal stimuli from developed-world governments.
In 2008, the industry lost a record $42.6 billion.
Something is VERY wrong with this picture.
Instead of being punished for their considerable role in this crisis (and the next), and their part in destroying retirement funds and ruining millions of lives, wallstreet has been rewarded. The government handed them taxpayer money so they could make good on their bad bets rather than go under, and they turn around and give themselves record bonuses? This figure doesnt even count the money from shares handed out as bonuses.
Ghastly behavior as my grandmother would say.