Wall Street pays record bonuses after US bailout - 14 Oct 09
- 12 years ago
Barely a year after the Wall Street bailout sparked public outrage and calls for nationalising banks, executives are raking in record-breaking salaries and big banks are posting blockbuster profits.
The windfall is evident in the $140bn in salaries that banks and investment houses are paying their executives. Many of those who
will benefit work for JP Morgan, whose huge third-quarter profit boom helped push the Dow Jones Average over the coveted
10,000 mark for the first time in a year.
Meanwhile, ordinary American workers continue to see sharp pay cuts and the worst joblessness in 20 years. John Terrett reports.
The windfall is evident in the $140bn in salaries that banks and investment houses are paying their executives. Many of those who
will benefit work for JP Morgan, whose huge third-quarter profit boom helped push the Dow Jones Average over the coveted
10,000 mark for the first time in a year.
Meanwhile, ordinary American workers continue to see sharp pay cuts and the worst joblessness in 20 years. John Terrett reports.