Stunning facts about bank bonuses on Wall Street, average compensation and homeless kids.
Think Progress writes……..
BIG BANK BONUSES MAY BE HEADED FOR RECORD YEAR | According to a new report from The New Bottom Line and The Public Accountability Initiative, bonuses at seven of the biggest U.S. banks — Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, US Bank, and Wells Fargo — will total about $156 billion in 2011, which would be “slightly larger than last year’s record breaking number.” Already, six of those seven banks “set aside more money for compensation through the first three quarters of 2011 than they did in the first three quarters of 2010.”
The 99 Percent Movement effectively changed the American political debate from debt and deficits toincome inequality, highlighting the fact that income inequality has increased so much in the U.S. that it is now more unequal than countries like Ivory Coast and Pakistan. While those numbers are startling, a study from two historians suggests that American wealth inequality may actually be worse than it was in Ancient Rome — a society built on slave labor, a defined class structure, and centuries of warfare and conquest.
- Bonuses Dive, Stocks Tank: Goodbye Income Gap? (businessweek.com)
- 10 Charts of the Year – Income Inequality (brickcity.wordpress.com)
- Wall Street Says It Expects Bonuses To Be Just As Big This Year (huffingtonpost.com)
- Too Big to Fail and Economic Inequality (crooksandliars.com)
- Johnston: Income Inequality (taxprof.typepad.com)
- Finally, finance bonuses return to earth (finance.fortune.cnn.com)
- Why the Radical Left and Mainstream Republican Leaders Are Both Wrong About Inequality (zerohedge.com)
- Will Occupy Wall Street movement fizzle out? (ibnlive.in.com)
- On Wall Street, Bonuses Aren’t What They Used To Be (forbes.com)
- Changes to banking executives’ compensation could dramatically affect their focus and decisions. (optionsanimal.com)