Greek Bailout Equals Recent Wall Street Annual Payouts
What a coincidence:
Wall Street pay and bonuses have averaged around $150 billion annually since 2008 - - including to Goldman Sachs execs, and the international financial rescue plan for Greece equals about the same amount.
And some of the Greek and European financial problems are traceable to bad Goldman Sachs investment instruments.
And you still think we don't need Wall Street reform?
5 comments:
Acknowledging most of you could care less about the facts, but a few of you might.
The $150B James attributes to “wall street pay and bonuses” if one actually reads the linked article was in fact for “total compensation” of the top six U.S. Banks.
The top six banks have a total employment of 1.26 million.
So the average total compensation comes out to a little over $119k, which to be honest seems if anything to be on the low side and is probably less than the average compensation for an MPS employee.
Per employee? Ridiculous. The compensation is weighted towards the top, with much of that in bonuses and stock.
Your formulation is silly. Milwaukee has a budget of about $1 billion and somewhere in the neighborhood of 6,500 employees. Using your method, each employee gets an average salary of 150,000 +.
I don't think so...
James - math and paying attention to details are obviously not your strong suits.
I clearly stated the "average" was $119k
Not the mean or the medium which would admittedly give us a better understanding of how the “total compensation” at the top six US banks is distributed amongst the employees, but those amounts are not readily available.
And your follow up of dividing the entire Milwaukee budget (not just the employee compensation dollars) by the number of employees shows you either do not understand your own posting, or are being duplicitous.
Top Goldman Sachs; exec bonus for '07 was $68 million.
http://www.chron.com/disp/story.mpl/business/6787366.html
James, I understand your confusion since the AP article you linked was very poorly written and exteemly biased.
But as I pointed out the $150B was for total compensation for the top 6 U.S. banks in 2009.
Goldman Sachs is not a bank and this is not 2007.
Btw that $150B bailout represents almost half of Greece's GNP to show just how screwed up Greece is. Thier entire econnmy is only $318B.
And linking an article claiming Goldman Sachs is responsilbe for enabling European goverments to run up massive debts, does not exonerate those failed goverments.
The kind you progressives so want the U.S to emulate.
SOM/BFTG
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