Daily Politics Response
Tuesday, February 26
In a blog post in the Daily Politics section of the "Daily News", Ken Lovett reports that despite the smaller Wallstreet industry and the continued reconstruction since the market crash of 2008, employee bonuses are still rising.
How is this possible? Reports show that the bonuses given out have increased 8% since 2011. They also show that the industry is likely to continue to shrink as a 'new business' is established.
What does this mean about Wall Street business? How is it possible that though the industry is shrinking and cutting more jobs then any other industry in NYC that companies are still able to shovel out hundreds of thousands of dollars each year?
http://www.nydailynews.com/blogs/dailypolitics/2013/02/comptroller-thomas-dinapoli-wall-street-bonuses-soar-even-as-industry-shrinks