That's the headline over at Huffington Post. I wanted to just copy it over here for MOT and others who may are broke and out of work so they'll be comforted knowing that Wall Street is SOARING.
Yes, any day now those good times are gonna trickle on down. But first, here's the GOOD NEWS!!!
It took Wall Street just one year to make its way back to record profits.
According to a report released Tuesday by the comptroller of New York State, Thomas P. DiNapoli, Wall Street is turning around "much faster than expected" and is on pace to pull in record earnings this year.
New York City's four largest investment firms -- Goldman Sachs, JPMorgan Chase, Merrill Lynch and Morgan Stanley -- earned $22.5 billion in the first nine months of 2009. Wall Street's earnings, should they remain steady for the rest of the year, could lead some firms to eclipse 2007's record profits.
The six largest bank holding companies in the U.S. dedicated $112 billion to compensation during the first nine months of the year, the report noted. Even Merrill Lynch, which last $41 billion in the first nine months 2008, is expected to pay out sizable bonuses this year.
My outrage meter long stopped functioning. I just have to say though, this is no longer class war. This is class slaughter. Class obliteration. Classocide.