The former top five Wall Street firms -- Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers, and Bear Stearns -- paid their CEOs a combined $3.1 billion between 2003 and 2007, when the banks were buying up the assets that led three of them to implode.
In those same five years, the five firms reported a combined $93 billion in net income. In 2007 alone, the firms paid their 185,687 employees $66 billion, including $39 billion in bonuses.
In reality, in a simple term...... These pencil pusher just took a piece of paper from table 1 to table 2. Selling toxic CDO, and so call financial 'new' products, and 'newer' financial products with another fancy name, between themself within Wall Street. What did they produced??
Dick Fuld, CEO of Lehman brothers made 490 million in few short years and lost tens of billions in a few years. Can you pick anyone from any street corner to do this kind of job??
Now taxpayers suppose to bailout these pencil pusher, and let them rip off the public one more time with their hundreds of millions severance package??
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