Goldman Sachs Group Inc., Morgan Stanley and JPMorgan Chase & Co.’s investment bank, survivors of the worst financial crisis since the Great Depression, are set to pay record bonuses this year.
The firms — the three biggest banks to exit the Troubled Asset Relief Program — will hand out $29.7 billion in bonuses, according to analysts’ estimates. That’s up 60 percent from last year and more than the previous high of $26.8 billion in 2007. The money, split among 119,000 employees, equals $250,400 each, almost five times the $50,303 median household income in the U.S. last year, data compiled by Bloomberg show.
”Wall Street Bonuses Rise as Big 3 May Pay $30 Billion (Update2) - Bloomberg.com
But don’t call it “class warfare”—after all, in warfare you need at least two parties fighting, and the top 1%’s been whipping our ass for decades now.
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