http://www.guardian.co.uk/business/2008/oct/17/executivesalaries-banking
How can "bankers still get millions of dollars in spite of mess they have created" is beyond my comprehension?
From above article -
- Financial workers at Wall Street's top banks are to receive pay deals worth more than $70bn (£40bn),substantial proportion expected to be paid in discretionary bonuses,
- Whereas Germany's Deutsche Bank said many of its leading traders would join Josef Ackermann, its chief executive, in waiving millions of euros in annual payouts.
- At one point last week the Morgan Stanley $10.7bn pay pot for the year to date was greater than the entire stock market value of the business.
- In the first nine months of the year Citigroup, which employs thousands of staff in the UK, accrued $25.9bn for salaries and bonuses, an increase on the previous year of 4%.
- At Goldman Sachs the figure was $11.4bn, Morgan Stanley $10.73bn, JP Morgan $6.53bn and Merrill Lynch $11.7bn.
- Days before it collapsed into bankruptcy protection a month ago Lehman Brothers revealed $6.12bn of staff pay plans
Bank CEO slams salaries:
http://www.montereyherald.com/business/ci_10792837?nclick_check=1
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