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November 19, 2007

Why You Don't Have Health Insurance, Raises

-- by Dave Johnson

Wall Street Plans $38 Billion of Bonuses as Shareholders Lose ,

Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion.

That money, split among about 186,000 workers at Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos., equates to an average of $201,500 per person, according to data compiled by Bloomberg. The five biggest U.S. securities firms paid $36 billion to employees last year.

Posted by Dave Johnson at November 19, 2007 5:48 PM

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Comments

That explains Congressional hesitation to tax any of that unearned income.

Posted by: grannyinsanity [TypeKey Profile Page] at November 19, 2007 8:23 PM

That explains Congressional hesitation to tax any of that unearned income.

Posted by: grannyinsanity [TypeKey Profile Page] at November 19, 2007 8:29 PM

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