Its a Very Good Year on Wall Street

by Dual Income No Kids on December 20, 2006 · 0 comments

Apparently Wall Street is having a bumper year. According to yahoo news, the total dollar amount of bonus offered offered by firms on the street will be $23.9 billion. This is more than the total amount of goods and services produced by some small countries like Kenya or El Salvador.

Some firms like Goldman Sachs in particular are doing very well. Goldman Sachs’ CEO, Lloyd Blankfein, scored total annual compensation to the tune of 53 million dollars. Some of the administrative assistants at Blankfein’s company made over $120,000 in bonuses.

The compensation is expected to generate $1.6 billion in tax revenue for New York state and at least 500 million for the city (Clicky).

Normally, we wouldn’t comment on this, but these sums are truly titanic. No doubt about it, this is undeniably a good year for Wall Street.

Best,

James

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