Undeterred by the rising anger on Main Street and the populist backlash in Washington D.C., Wall Street firms are poised to pay record bonuses for 2009.
You expected otherwise?
2009 "was just a great year" for Wall Street, Craig says. "But where the gap is...what they do and what they did caused a systemic risk to our system. We have to balance those two issues because there is a public interest in terms of what they did; the taxpayers had to clean it up. "
2009, was another great year, made possible by
1. FASB,
2. Reward without risk (which leads to 3)
3. Taxpayer money and infinite QE
4. Just enough complexity to keep the public confused.
Source: finance.yahoo.com
0 comments:
Post a Comment