Great graphic from the Economist showing the upward trend of Wall Street bonuses over the last 20 years. Despite the great recession of 2008, and the suffering of millions of main-street Americans, Wall Street bankers seem to have made out okay and in fact last year was especially good for those still employed. According to initial estimates using tax returns by the Office of the New York State Comptroller, the average bonus was nearly $125,000 in 2009, 17% more than in 2008 and about 3 times the average American household income.
I do find this galling, especially when reading comments on my post about the additional 2010 $250 Social security payment that so many elderly Americans are desperately still awaiting (which is not yet approved). Further with unemployment at 10%, the ongoing bailouts of financial institutions and Washington’s gridlock is even more frustrating and reaffirms the old adage that the rich just get richer. What say you?
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~ Another Inevitable Government (AIG) Billion Dollar Bailout
~ 2010 Consumer Financial Goals and Intentions – How Do You Measure Up?