Record pay for Wall Street executives in 2010

[Hannah Bell]

While the great majority of the American population is suffering from the consequences of mass unemployment, pay-cutting, record foreclosures, and ruthless cuts to all forms of social spending, America’s corporate elite are flush with record pay and profits.

According to a new study by the Wall Street Journal, total compensation handed out to employees at publicly traded Wall Street banks hit a record $135 billion in 2010, an increase of 5.7 percent over the combined payout in 2009.

The $135 billion in “compensation” given to the lords and ladies of Wall Street is $10 billion more than the combined budget deficit of $125 billion facing 44 states and the District of Columbia for fiscal year 2012—budget deficits that will be used to cut funding for schools, food stamps for the hungry, health care for the poor and working class, and unemployment compensation for the jobless.

One firm, Bank of America, paid out $35.1 billion in compensation alone. The figure is equivalent to the combined budget deficits of California and Illinois, which are together home to 50 million people.

http://www.wsws.org/articles/2011/feb2011/wall-f03.shtml

[abq e streeter]

1. Oh come on, be fair...have YOU tried to make it on only 34 billion lately?

[ipaint]

2. Massive criminal fraud pays.

I have no clue when the majority of Americans will come to the point where enough is enough with this white collar gang of thugs and criminals at the top. The government sure as hell isn't going to do a thing about it, they are co-conspirators.

[tomp]

3. indefensible. one nation, corrupted beyond measure.

and yes, that includes obama and the dems.

[lonestarnot]

4. But that social security pile, they want it too.

[Starry Messenger]

5. k&r

[Octafish]

6. In a swamp...

...scum floats to the top.

Kick n Rec.