Warning: Obscene reading

If this article doesn't boil your blood, you're already dead. (Or you're one of those people who's convinced himself that the only culprits in the financial meltdown are Barney Frank and Acorn.)

"On Wall Street, bonuses were real, profits were not"

"For Dow Kim, 2006 was a very good year. While his salary at Merrill Lynch was $350,000, his total compensation was 100 times that — $35 million.. . .The difference between the two amounts was his bonus, a rich reward for the robust earnings made by the traders he oversaw in Merrill’s mortgage business.. . .Mr. Kim’s colleagues, not only at his level, but far down the ranks, also pocketed large paychecks. In all, Merrill handed out $5 billion to $6 billion in bonuses that year.....

The rest of the story, if you can stomach it:

http://www.nytimes.com/2008/12/18/business/18pay.html?em

You Got It

Submitted by skyspy on Thu, 12/18/2008 - 6:40pm.

That really stinks. None of them are worth the money they received.

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luckydog...link is live now

Submitted by Main Stream on Thu, 12/18/2008 - 5:02pm.

LINKAROO

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Thanks main

Submitted by bowser on Thu, 12/18/2008 - 7:12pm.

One of these days I gotta improve my computer skills...

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