Weeping For The Banksters: ‘Wall Street Bonuses Cut’
New York State Comptroller Thomas DiNapoli talks about his annual report which projects job losses in the securities industry, and the outlook for Wall Street bonuses. DiNapoli, speaking with Erik Schatzker on Bloomberg Television’s “InsideTrack,” also discusses the Occupy Wall Street protests. (Source: Bloomberg)
Wall Street cash bonuses fell 8 percent last year from 2009 as financial companies disbursed $20.8 billion. The average Wall Street cash award for an employee was $128,530 in 2010, a 9 percent drop that was greater than the total decline because the pool was shared among more workers.