“Three of the largest Wall Street firms -- which together received $45,000,000,000 in taxpayer bailouts -- are on track to hand out $29,700,000,000 in bonuses this year.
That's only the three largest firms. JP Morgan Chase took $25 billion in government aid; Goldman Sachs and Morgan Stanley, $10 billion each. All three have paid back the government bailout money they've received, but the liquidity and "cheap money" offered by the Fed have kindled record profits at their investment and trading arms.”
“Wall Street is beginning to resemble Clark Gable as Rhett Butler in the film ‘Gone With the Wind’: ‘Quite frankly, my dear, I don’t give a damn,’” Paul Hodgson, a compensation expert, told the wire. “It doesn’t seem as if even political threat, disastrous PR, envy, rising unemployment rates and home repossessions is enough to get any of these people to refuse the bonuses they have ‘earned.’”
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