Wall Street Plans $38 Billion of Bonuses as Shareholders Lose $74 Billion [View All]

[Didereaux]

Source: Bloomberg

Nov. 19 (Bloomberg) -- Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion.

That money, split among about 186,000 workers at Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos., equates to an average of $201,500 per person, according to data compiled by Bloomberg. The five biggest U.S. securities firms paid $36 billion to employees last year.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=ahE8xVisWsbE&refer=home

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Guess where a LOT of that $74 Billion comes from? Yep, Gov and private pension funds and 401K's