More Bonuses for Bankers

A report from the Office of the New York Comptroller Thomas DiNapoli says that bonuses on Wall Street are going to amount to at least $18.4 billion.  The number will likely be higher, though, because this sum fails to include dollars for stock options.  In the event that some options are granted in the money, or close enough to have time value, the sum is greater. It is the sixth best year for bonuses on record.

Hard to believe.

This shows that the ongoing defense of bonuses is actually insincere.  Bonuses were defended for years as a means of rewarding (more…)