Banks Set for Record Pay

Greetings note: I am wondering how quickly the banksters are rushing all of their bonus money to Haiti. That $145 billion could help that country immensely. And I doubt the banksters need it that much.

Top 38 Firms on Pace to Award $145 Billion for '09, Up 18%, WSJ Study Finds

BY STEPHEN GROCER

Major U.S. banks and securities firms are on pace to pay their people about $145 billion for 2009, a record sum that indicates how compensation is climbing despite fury over Wall Street's pay culture.

An analysis by The Wall Street Journal shows that executives, traders, investment bankers, money managers and others at 38 top financial companies can expect to earn nearly 18% more than they did in 2008—and slightly more than in the record year of 2007. The conclusions are based on an examination of securities filings for the first nine months of 2009 and revenue estimates through year-end.