Who says we don't believe in American "Exceptionalism" anymore?
Record Breaking Bonuses on Wall Street, are treating the select few
-- "Exceptionally" Well ... thank you very much!
On Street, Pay Vaults to Record Altitude
by Aaron Lucchetti and Stephen Grocer, Wall Street Journal -- Feb 2, 2011
When it comes to paychecks, Wall Street's law of gravity is back in full force: What goes down must come back up.
In 2010, total compensation and benefits at publicly traded Wall Street banks and securities firms hit a record of $135 billion, according to an analysis by The Wall Street Journal. The total is up 5.7% from $128 billion in combined compensation and benefits by the same companies in 2009.
[...]
"Things are shifting back to where they were before," said J. Robert Brown, a law professor at the University of Denver who studies compensation and corporate-governance issues.
"back to where they were before" ???
The professor must mean back to Business as Usual ...
No Worries, though.
At least their "Pay Gap" is narrowing -- the Pay Gap between security investment firms and plain old "commercial bank" employees, that is ...
Wall Street pay: the gap narrows
by Kit Chellel, FinancialNews.com -- Feb 02, 2011
In 2010, the average pay for staff at securities firms was $286,000, compared to $209,000 for asset management firm employees and $111,000 for those who work in commercial banks.
That means that employees at securities firms made two-and-a-half times more than their counterparts at commercial banks in 2010, a distinct narrowing of the gap since 2006 [...]
Thank goodness that "Pay Gap" is narrowing -- between the Haves, and the Have Mores !
Of course that's the "Exceptional" American Way -- those in the exception-class get all the breaks and the bonuses!
while those in the actual productivity-class get all the aches and pains.
Well afterall it's not like those Wall Street Investment Bankers, didn't EARN every thousand, they've taken been given:
Financial Commission concludes Crisis was Systemic
by jamess -- Jan 30, 2011
It's not like those Corporate CEO, didn't EARN every Million, they've Invested Divested from America's Economy:
Why are CEO Multi-Million Dollar Parachutes Tax Deductible?
by jamess -- Jan 31, 2011
It's just that they Do all that Earning Taking -- SOOOO "Exceptionally" well -- thank US very much!