Wall Street To Break Record Again With $144 Billion In Pay This Year

By on October 13, 2010 in News 32

015traders_468x387Having déjà vu? Top Wall Street firms will once again break their own salary record this year. If that’s not a sign we’re in economic boom times, I don’t know what is! MSNBC reports:

Wall Street pay is on pace to break a record high for a second consecutive year, according to a report in Tuesday’s Wall Street Journal.

Some three dozen top banks and securities firms will pay $144 billion in salary and benefits this year, the paper said. That’s a 4 percent increase from the $139 billion paid out in 2009, according to a survey conducted by the Journal. Compensation is expected to rise at 26 of the 35 firms surveyed, including banks, investment banks, hedge funds, money-management firms and securities exchanges.

Large Wall Street banks are unlikely to accelerate bonus payouts, however, to help their employees avoid the higher tax rates that may be coming when tax cuts enacted by the Bush administration expire on January 1.

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  • Haystack

    This American Life sent their economics guy into a Wall Street bar to suggest to those guys that they shouldn’t be complaining about the government, since they only have jobs today because we bailed them out. The Wall Street douchbags all went on rants about how they’re rich because they’re so much smarter than the rest of us; and that getting the taxpayers to fix their mistakes was just one more example of their brilliance.

    Is there still a wall along Wall Street? We’ll need something to prop them up against when the revolution comes. *g*

    • MeatBurgler

      Yes, I have a few things laying around I’d like to beat/smash/destroy them with…

  • Haystack

    This American Life sent their economics guy into a Wall Street bar to suggest to those guys that they shouldn’t be complaining about the government, since they only have jobs today because we bailed them out. The Wall Street douchbags all went on rants about how they’re rich because they’re so much smarter than the rest of us; and that getting the taxpayers to fix their mistakes was just one more example of their brilliance.

    Is there still a wall along Wall Street? We’ll need something to prop them up against when the revolution comes. *g*

  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    …and thanks to trickle down economics, coke dealers and escorts should experience a slight uptick in business in NY over the next few months.

    • E.B. Wolf

      Don’t forget the Ground Zero strip club.

  • http://voxmagi-necessarywords.blogspot.com/ VoxMagi

    …and thanks to trickle down economics, coke dealers and escorts should experience a slight uptick in business in NY over the next few months.

  • MeatBurgler

    Yes, I have a few things laying around I’d like to beat/smash/destroy them with…

  • Earbudcontender

    Grrr. Shit like this is what causes me to question GODs control over the world.

    • Hmmmmm

      It should. Although a lot of things occurring in present times do relate to many prophecies from many religions. I see no sign of a god. If there is, maybe hes just a bit sadistic.

  • Earbudcontender

    Grrr. Shit like this is what causes me to question GODs control over the world.

  • E.B. Wolf

    Don’t forget the Ground Zero strip club.

  • Liam_McGonagle

    See now it’s this here type of article that needs to get around. I wonder why it doesn’t more often?

    • Haystack

      It gets around, but sadly among people who read it and have nothing better to say than “…and this is why we have to stop Obama’s Islamo-socialist agenda.”

      • Hmmmmm

        Yea it’s sad that people don’t realize that it’s not really “Obama” himself. It’s his corporate puppet masters pulling the strings. He’s just the newest in a series of scapegoats to take all the blame for years and years of looting and horrible policy… Very sad indeed though that he tricked so many people that were too lazy to look at his voting record. He is an establishment created media circus distraction and that’s all he ever will be. Anyone trying to bring real change knows damn well they will end up dead. Welcome to fascist America!! Well, its been building up a while, so its nothing new. =)

    • Hmmmmm

      Liam, even though I know that you won’t respond to me, you never do, even under various disguises lol. But, there IS a FACTUAL reason for this “phenomenon”. ALL mainstream news organizations are owned and controlled by 5 people/corporations who are protecting their interests. Simple as that, wake up. You seem intelligent, but closed minded to reality, break through man. You can do it. First I recommend that you stop worshipping Obama like a teenage girl fawning over a backstreet boy. Read about Obamas corporate/wall st ties. Wake up.

      • Liam_McGonagle

        Hmmmmm
        1. I’ve never noticed you before–maybe you’ve trolled around under other names? Regardless, the fact that I’ve missed you means you’ve never written anything that interested me.
        I only answer on this one occassion to challenge you to put up or shut up. Though I suspect you will do neither.
        2. About media concentration: D’uh, dumbass. I’ve written nothing to suggest that I believe anything BUT that all of our industries are unhealthily concentrated. So your comment comes as a revelation only to you.
        Sure I’ve never cited any specific statistics relevant to HHI (y’all know what that means, right?), etc. But that’s just because I’m not as sloppy with my facts as you are. What the hell is a “mainstream news organization”? Anything you don’t agree with? Put up some objective definitions, you slob!
        3. Yeah. Obama’s so deep in the pockets of Wall Street that Big Finance douchebags like Richard Rahn and Grover Norquist are setting up public disinformation campaigns to undermine his legislative agenda.
        http://www.disinfo.com/2010/10/barack-obama-is-not-a-liberal-and-sarah-palin-is-not-a-conservative/
        [My comments from Wednesday to Hadrian999]
        So that’s the picture. The Big Banks are so fucking totally stupid that they spend billions of dollars to undermine the policies they themselves put in place. That’s the big conspiracy that you see in front of you–banks punching themselves in the nuts endlessly, and geniuses like you are too helpless to respond effectively.
        Get a clue, “Hmmmmmmm”.
        And regardless of whether you really are dumb enough to believe that scenario, there is one question you can’t avoid: If you really gave a shit about anything, why don’t you’d spend some time recommending real solutions, instead of undermining government, the one institution with any hope of counteracting the influence of the big banks?
        Answer:
        1.) You really don’t believe in shit
        2.) You are a troll for the Tea Party

        • Hmmmmm

          Lol you say:
          “So that’s the picture. The Big Banks are so fucking totally stupid that they spend billions of dollars to undermine the policies they themselves put in place. That’s the big conspiracy that you see in front of you–banks punching themselves in the nuts endlessly, and geniuses like you are too helpless to respond effectively.” Yeah hah, they are punching themselves in the nuts? No sir, well, maybe the off brand small banks have suffered, but do you think international banks are suffering from this? NO, the IMF is still giving loans to countries that cant pay the interest, and making a killing running them into the ground when they cant repay the loans. Been doing it for decades, and do you really believe that banks aren’t getting rich from all of these wars?? Blind? The only thing going on is a separation of the classes. The ruling 1% and the rest…. futile serfs.

          And I have proven you wrong on here quite a few times, yes under different names, but you only say something to me until I present links/sources/facts, then I get no response from you.

          And I saw you quoting the Southern Poverty Law Center, who are now a part of DHS and say that ANYONE who supports the constitution, gun rights, sovereignty, etc. is a potential domestic terrorist. So, really, I can’t see how I could possibly win an argument with someone such as yourself, who believes the SPLC. Their website is a propaganda masterwork. Lol, everyone look at this crazy shit.

          http://www.splcenter.org

          • Hmmmmm

            HERE also…

            http://www.youtube.com/watch?v=qhRiVLUdx-M&feature=player_embedded

            Gerald Celente on the bailout and recession making banks BIGGER. Bam sucka. You wont respond, so… Ahh there ya go anyways.

          • Liam_McGonagle

            Ooooh, finally a “source”. Which as it turns out is not a primary document, not even a secondary factual report, but an opinion piece. Total opinion.
            And that from a guy who felt his most impressive and relevant resume elements vis-a-vis economic analysis were:
            1. Being a practioner of “Close Combat”
            2. Coining the term “clean foods” in 1993
            http://www.trendsresearch.com/gerald.html
            Makes you wonder where he got his economics degree(?) from a Cap’n Crunch box top promotion?
            Also notable is a lack of actual suggestions to take on the Big Banks. My guess is it’s due to a combination of the fact that he just plain doesn’t have any practical ideas (which fits him in quite nicely with the Tea Party), an unwillingness to be responsible for his ideas, and a much easier lifestyle as a free-floating, airy-fairy speculative “futurist”, milking “mainstream” media like ABC, NBC, CBS, etc., etc.
            Yeah, you and Celente are real WARRIORS. Knees quaking and pissing yourselves in a fetal position in the corner, waiting for the Apacolypse to come, instead of advocating real policies.
            Like a return to the 1965 70% highest marginal tax rate for the wealthiest 2% and for corps to take care of the deficit.
            Face it MeatHandler, or whatever you’re trolling around as now, we’re on to you: The Big Banks are using Tea Party trolls like you and Celente to torpedo financial reform and destroy American democracy. We’re on to you.

          • Liam_McGonagle

            Right, troll, “Hmmmmm”, “ComeOnBarry”, “MeatHandler” or whatever else you’re calling yourself these days. No evidence. >Click . . . . You have been disconnected, please hang up the line . . . <

  • Liam_McGonagle

    See now it’s this here type of article that needs to get around. I wonder why it doesn’t more often?

  • Haystack

    It gets around, but sadly among people who read it and have nothing better to say than “…and this is why we have to stop Obama’s Islamo-socialist agenda.”

  • Hmmmmm

    It should. Although a lot of things occurring in present times do relate to many prophecies from many religions. I see no sign of a god. If there is, maybe hes just a bit sadistic.

  • Hmmmmm

    Liam, even though I know that you won’t respond to me, you never do, even under various disguises lol. But, there IS a FACTUAL reason for this “phenomenon”. ALL mainstream news organizations are owned and controlled by 5 people/corporations who are protecting their interests. Simple as that, wake up. You seem intelligent, but closed minded to reality, break through man. You can do it. First I recommend that you stop worshipping Obama like a teenage girl fawning over a backstreet boy. Read about Obamas corporate/wall st ties. Wake up.

  • Hmmmmm

    Yea it’s sad that people don’t realize that it’s not really “Obama” himself. It’s his corporate puppet masters pulling the strings. He’s just the newest in a series of scapegoats to take all the blame for years and years of looting and horrible policy… Very sad indeed though that he tricked so many people that were too lazy to look at his voting record. He is an establishment created media circus distraction and that’s all he ever will be. Anyone trying to bring real change knows damn well they will end up dead. Welcome to fascist America!! Well, its been building up a while, so its nothing new. =)

  • Ironaddict06

    You see there is no recession. Hehe.

  • Ironaddict06

    You see there is no recession. Hehe.

  • Anonymous

    Hmmmmm
    1. I’ve never noticed you before–maybe you’ve trolled around under other names? Regardless, the fact that I’ve missed you means you’ve never written anything that interested me.
    I only answer on this one occassion to challenge you to put up or shut up. Though I suspect you will do neither.
    2. About media concentration: D’uh, dumbass. I’ve written nothing to suggest that I believe anything BUT that all of our industries are unhealthily concentrated. So your comment comes as a revelation only to you.
    Sure I’ve never cited any specific statistics relevant to HHI (y’all know what that means, right?), etc. But that’s just because I’m not as sloppy with my facts as you are. What the hell is a “mainstream news organization”? Anything you don’t agree with? Put up some objective definitions, you slob!
    3. Yeah. Obama’s so deep in the pockets of Wall Street that Big Finance douchebags like Richard Rahn and Grover Norquist are setting up public disinformation campaigns to undermine his legislative agenda.
    http://disinfo.com/2010/10/barack-obama-is-not-a-liberal-and-sarah-palin-is-not-a-conservative/
    [My comments from Wednesday to Hadrian999]
    So that’s the picture. The Big Banks are so fucking totally stupid that they spend billions of dollars to undermine the policies they themselves put in place. That’s the big conspiracy that you see in front of you–banks punching themselves in the nuts endlessly, and geniuses like you are too helpless to respond effectively.
    Get a clue, “Hmmmmmmm”.
    And regardless of whether you really are dumb enough to believe that scenario, there is one question you can’t avoid: If you really gave a shit about anything, why don’t you’d spend some time recommending real solutions, instead of undermining government, the one institution with any hope of counteracting the influence of the big banks?
    Answer:
    1.) You really don’t believe in shit
    2.) You are a troll for the Tea Party

  • Hmmmmm

    Lol you say:
    “So that’s the picture. The Big Banks are so fucking totally stupid that they spend billions of dollars to undermine the policies they themselves put in place. That’s the big conspiracy that you see in front of you–banks punching themselves in the nuts endlessly, and geniuses like you are too helpless to respond effectively.” Yeah hah, they are punching themselves in the nuts? No sir, well, maybe the off brand small banks have suffered, but do you think international banks are suffering from this? NO, the IMF is still giving loans to countries that cant pay the interest, and making a killing running them into the ground when they cant repay the loans. Been doing it for decades, and do you really believe that banks aren’t getting rich from all of these wars?? Blind? The only thing going on is a separation of the classes. The ruling 1% and the rest…. futile serfs.

    And I have proven you wrong on here quite a few times, yes under different names, but you only say something to me until I present links/sources/facts, then I get no response from you.

    And I saw you quoting the Southern Poverty Law Center, who are now a part of DHS and say that ANYONE who supports the constitution, gun rights, sovereignty, etc. is a potential domestic terrorist. So, really, I can’t see how I could possibly win an argument with someone such as yourself, who believes the SPLC. Their website is a propaganda masterwork. Lol, everyone look at this crazy shit.

    http://www.splcenter.org

  • Hmmmmm

    HERE also…

    http://www.youtube.com/watch?v=qhRiVLUdx-M&feature=player_embedded

    Gerald Celente on the bailout and recession making banks BIGGER. Bam sucka. You wont respond, so… Ahh there ya go anyways.

  • Anonymous

    Right, troll, “Hmmmmm”, “ComeOnBarry”, “MeatHandler” or whatever else you’re calling yourself these days. No evidence. >Click . . . . You have been disconnected, please hang up the line . . . <

  • Anonymous

    Ooooh, finally a “source”. Which as it turns out is not a primary document, not even a secondary factual report, but an opinion piece. Total opinion.
    And that from a guy who felt his most impressive and relevant resume elements vis-a-vis economic analysis were:
    1. Being a practioner of “Close Combat”
    2. Coining the term “clean foods” in 1993
    http://www.trendsresearch.com/gerald.html
    Makes you wonder where he got his economics degree(?) from a Cap’n Crunch box top promotion?
    Also notable is a lack of actual suggestions to take on the Big Banks. My guess is it’s due to a combination of the fact that he just plain doesn’t have any practical ideas (which fits him in quite nicely with the Tea Party), an unwillingness to be responsible for his ideas, and a much easier lifestyle as a free-floating, airy-fairy speculative “futurist”, milking “mainstream” media like ABC, NBC, CBS, etc., etc.
    Yeah, you and Celente are real WARRIORS. Knees quaking and pissing yourselves in a fetal position in the corner, waiting for the Apacolypse to come, instead of advocating real policies.
    Like a return to the 1965 70% highest marginal tax rate for the wealthiest 2% and for corps to take care of the deficit.
    Face it MeatHandler, or whatever you’re trolling around as now, we’re on to you: The Big Banks are using Tea Party trolls like you and Celente to torpedo financial reform and destroy American democracy. We’re on to you.