Is Wall Street Tone Deaf?
Is Wall Street Tone Deaf? Wednesday June 24, 2009#spacer{clear:left}#abc #sidebar{margin-top:1.5em}zSB(3,3) Citigroup is reportedly planning on raising salaries to its employees by as much as 50 percent as a way to offset smaller annual bonuses. Bonus, as it relates to Wall Street, has become a dirty word in the media. When the stock market was crashing in late 2008 and early 2009, as the economy went into a tailspin and while millions of jobs were lost, bonuses paid to top executives and employees of financial services firms whom many claimed touched off the crisis seemed obscene. Its worth remembering that plenty of people who worked in the financial services sector have been laid off and most of them werent involved in the excessive risk taking that politicians and economists say occurred. Nor were most of the people who still hold jobs in that industry the geniuses who put firms such as
