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Wall Street Bonuses Surge 14 Percent Despite Dismal Earnings

AP   |  Joe Del Bruno   |   December 21, 2007 08:56 AM

Read More: CEO Compensation, Goldman Sachs, Goldman Sachs Bonuses, Investment Banks, Lehman Brothers, Morgan Stanley, Wall Street, Wall Street Bonuses, Breaking Business News
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This might have been one of Wall Street's most dismal years in a decade, but that hasn't stopped bonus checks from rising an average of 14 percent.

Four of the biggest U.S. investment banks -- Goldman Sachs Group Inc., Morgan Stanley, Lehman Brothers Holdings Inc. and Bear Stearns Cos. -- will pay out about $49.6 billion in compensation this year. Of that, bonuses are traditionally estimated to represent 60 percent, or almost $30 billion.

But that might not sit well with investors who held on to investment bank stocks this year -- and watched them plunge by up to 45 percent. Investment houses have been slammed by the credit crisis, and top executives this past week said they've yet to see a bottom.

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- Justinpassing I'm a Fan of Justinpassing permalink

ONE WORD: GILLOTINE

    Favorite    Flag as abusive Posted 07:09 PM on 12/21/2007
- Mike169 I'm a Fan of Mike169 permalink
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This is as it should be. Why do we expect otherwise? Doesn't anyone understand capitalism in the age of Bush?

    Favorite    Flag as abusive Posted 04:00 PM on 12/21/2007
- WIpatriot I'm a Fan of WIpatriot permalink
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"But that might not sit well with investors..."

One wouldn't think so.

    Favorite    Flag as abusive Posted 11:40 AM on 12/21/2007
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