Wednesday, October 14, 2009

Banker's Pay Increases 20%

US Firms on Route to Award Record Pay in 09: Report, according to an article on the cnbc website this morning. Still, in another article on Yahoo - Treasury said to be unprepared on AIG bonus plans.

The US Taxpayer certainly did a great job in propping up the banks and continuing to enrich the elite banker class. After suffering through was many consider was very close to another great depression, banker pay and bonuses hardly skipped a beat. Even with the firms suffering huge losses and almost certain bankrupcy, bankers came through the turmoil receiving 20% raises, thanks to us.

Even if you are an investor in stocks, where is the capitalist system in action? Why do all of the profits flow through to salaries and bonuses instead of to the shareholder? What is the point of being an owner of a large public company if the true profits don't flow through to the shareholders?

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