“Major U.S. banks and securities firms are on pace to pay their employees about $140 billion this year — a record high that shows compensation is rebounding despite regulatory scrutiny of Wall Street’s pay culture,” the Wall Street Journal reported. “Workers at 23 top investment banks, hedge funds, asset managers and stock and commodities exchanges can expect to earn even more than they did the peak year of 2007, according to an analysis of securities filings for the first half of 2009 and revenue estimates through year-end by The Wall Street Journal.”
Is it any wonder that Main Street hates Wall Street? Nothing seems to have changed and the next crisis is coming. When is anyone’s guess but the lunatics are still running the asylum.