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October 19, 2009

All Business: Focus on Wall St. bonuses misses real story

  • The worry is that the $224 million spent on lobbying by the financial industry in the first half of this year will lead lawmakers to back down on their promises for major reform.
    • By RACHEL BECK
    AP Business Writer

    NEW YORK — Get over it, America.

    Wall Street bankers make too much money. The latest example: Goldman Sachs says it has set aside $16.7 billion so far this year for compensation — or about $530,000 per employee. Not bad for a company that a year ago received $10 billion in federal money as well as $12.9 billion from the government's bailout of American International Group Inc.


     
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