So why would the Globe not want to know this, readers? I saw it on the Times' front page when I purchased my Sunday Globe at the newsstand.
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Off year? When?
The rest of the nation may be getting back to basics, but on Wall Street, paychecks still come with a golden promise. Workers at the largest financial institutions are on track to earn as much money this year as they did before the financial crisis began, because of the strong start of the year for bank profits.
So cooking the books will lead to big bonuses, huh?
The GREATEST HEIST in WORLD HISTORY CONTINUES!!
It is time to hang some people!!!!
Even as the industry’s compensation has been put in the spotlight for being so high at a time when many banks have received taxpayer help, six of the biggest banks set aside over $36 billion in the first quarter to pay their employees, according to a review of financial statements.
I thought they were supposed to be loaning that money.
If that pace continues all year, the money set aside for compensation suggests that workers at many banks will see their pay — much of it in bonuses — recover from the lows of last year.
WTF are they TALKING ABOUT?
“I just haven’t seen huge changes in the way people are talking about compensation,” said Sandy Gross, managing partner of Pinetum Partners, a financial recruiting firm. “Wall Street is being realistic. You have to retain your human capital.”
I've had it with that fucking excuse! Where else they gonna go?
Brad Hintz, an analyst at Sanford C. Bernstein, was more critical. “Like everything on Wall Street, they’re starting to sin again,” he said. “As you see a recovery, you’ll see everybody’s compensation beginning to rise.”
Translation: NOTHING HAS CHANGED on Wall Street!!!
This is OUTRAGEOUS!!! WHERE ARE YOU, America?
Why are you not in the streets and at the gates!!!!
Of the large banks receiving federal help, Goldman Sachs stands out for setting aside the most per person for compensation. The bank, which nearly halved its compensation last year, set aside $4.7 billion for worker pay in the quarter. If that level continues all year, it would add up to average pay of $569,220 per worker — almost as much as the pay in 2007, a record year.
That's why Goldman wants to pay back the government!
See: The Gall of Goldman Sachs
“We need to be able to pay our people,” said Lucas van Praag, a spokesman for Goldman, adding that the rest of the year might not prove as profitable, and so the first-quarter reserves might simply be “sensible husbandry.”
Yup, HUSBAND that DOUGH, asshole!!
At other banks, pay scales tilt in favor of particular units. JPMorgan Chase, for example, is setting aside what would total $138,234 on average for workers. But in the bank’s trading and investment banking unit, if revenue stays at first-quarter levels, workers are on track to earn an average of $509,524 over the year....
Some of that revenue could be used by bailed-out banks to pay back taxpayers....
Nawwww! Why would they want to do that?!!
You are never getting that money back, taxpayers!! Remember when the lying looters said you might make a profit on the bailout?
Part of the way banks are supporting high pay for their workers is by shrinking their work forces. Citigroup, for example, has dismissed 65,000 people since the start of 2007. That has left Citigroup paying the same amount on average to its remaining workers, though the quarterly cost to Citigroup is down by 25 percent, to $6.4 billion.
And the LOOTING CONTINUES!!!
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For the record, the local had four other articles in regard to Mexico, Iceland, Ethiopia, and torture that either Google or the web scrubbed because I couldn't find them with a search.
