Wall Street Plans $38 Billion of Bonuses as Shareholders Lose
Bloomberg reports that shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion.
Read the full 11.19.07 Bloomberg article by Christine Harper.
Labels: bonuses, Wall Street
posted by Katie Drossos @ 8:21 PM
1 Comments:
Reading this now feels like opening a time capsule full of, well, impending doom. $38 BILLION in bonuses while shareholders tanked? I get that complex systems are complex, but…come on. It's almost impressively tone-deaf. It’s like rewarding someone for crashing a plane because…they still managed to land it…sort of? I remember being so frustrated back then. Remember that feeling of helplessly watching something unfold you had no control over? The futility of even trying to understand the rules? Feels a bit like trying to navigate those damn pipes in flappy bird, honestly. Just constant, anxious flapping towards inevitable disaster. Ugh.
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