Saturday, January 31, 2009

The New York Times also explains how Wall Street bonuses work


NYT: Getting Theirs Cuts Both Ways on Wall Street


If you’ve never worked on Wall Street, it is hard to wrap your head around the idea that a company that lost nearly $19 billion in a single year, as Citigroup did in 2008, could still pay its employees billions in bonuses. It is probably even harder to believe that some of those employees grumble about it.

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