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Saturday, October 24, 2009

Bonuses!!!

Main Street America is still in the grips of the worst recession since the 1930's. Unemployment is close to 10% and health care costs are shooting through the roof. Most people will see marginal if any increase in their pay checks, that is if they are lucky enough to have a job.

But if you are from Wall Street, the Mecca of global finance, thats a different story. People here will not only see an increase in salary, but can expect a big fat bonus come year end, whether the company that they work for is in business or not.

So why is that, people who brought the world to the brink of financial oblivion are still getting paid outrageous amounts so that they can keep doing more of the same.

Daniel Gross in his column for Slate magazine tries to explain.
"Just as Tiger Woods was placed on this earth to whack the dickens out of dimpled balls, Wall Streeters were placed on this planet to dispense and receive bonuses."
So if you are from Main Street and still have a job, keep you chin up and head back to work. After all you have to pay your taxes so that Wall Street can pay its bonuses.

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