Sure is nice to be too big to fail. I mean how great is it to work for a bank which pays out million dollar bonuses and is also backstopped by the American taxpayer? Talk about sweet!
The easy money spigots have been on so long now that $3 million per year isn’t even that shocking these days.
At this point I think Ferrari owes Mr. Bernanke, big time. They should send him a shiny red car as a retirement present. While they’re at it Ms. Yellen could use a new daily driver too.
Manna from heaven, or perhaps from somewhere else.
(From The Guardian)
Fresh evidence of the pay deals on offer in the City has emerged, with the biggest US bank, JPMorgan Chase & Co, revealing it gave more than 100 of its top staff in London an average of £2m each in 2012.