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Posted by on Oct 24, 2010 in Business, In The News, USA

Wall Street Pay Rebounds

Ladies and gentlemen, Since Jan 2009, Obama and the Democratic Congress delivered only to one group thus far: Wall Street! The following is from the NY Times:

Want a Big Raise? Get a Wall St. Job

“Wall Street incomes are surging back. The government reported this week that the real wage and salary income of finance industry employees based in Manhattan rose nearly 20 percent in the first quarter of this year. That surge helped make Manhattan the fastest-growing county in the United States in terms of terms of year-over-year gains in income.

Most Wall Street firms pay bonuses in the first quarter of each year, and the figures indicate that bonuses were much higher this year than in the same quarter of 2009. Then, of course, the financial crisis was at its most severe, with stock prices at 12-year lows and major banks being bailed out. It was not a good time to be paying bonuses.”