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. (Bloomberg)
The bottom line
September 26, 2008
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