The Latest From Bonusland
A study out today from Alan Hevesi, the New York State Comptroller, shows that Wall Street bonuses hit a record $23.9 billion, surpasssing last year's $20.5 billion. A Reuters story on the subject is here.
I think it's great that the Street is doing so well. Really. But can't at least some of this largesse be generated to the shareholders, in the form of special dividends perhaps? Or maybe, God forbid, even the public? Just a thought.
UPDATE: I made much the same points tonight on CNBC's On the Money. Seems to be a popular subject -- the third time I've been on the air concerning this issue in less than a week's time.
Here's another take on the bonus issue, from Andrew Ross Sorkin.
© 2006 Gary Weiss. All rights reserved.
Wall Street Versus America was published by Penguin USA on April 6.
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Labels: executive compensation