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Bankers Took Home Billions While Wall Street Burned

If you’re in a good mood, you may just want to skip this bit of news from The New York Times: “Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial companies in New York, the now-diminished world capital of capital, collected an estimated $18.4 billion in bonuses for the year.”

No word yet on whether that money came from the taxpayers, but get your pitchforks ready just in case.

What does a banker have to do to not earn a bonus?

Update: The president isn’t happy:

New York Times:

By almost any measure, 2008 was a complete disaster for Wall Street — except, that is, when the bonuses arrived.

Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial companies in New York, the now-diminished world capital of capital, collected an estimated $18.4 billion in bonuses for the year.

That was the sixth-largest haul on record, according to a report released Wednesday by the New York State comptroller.

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