If you want to keep your food down, don’t read these numbers.
Where else but Wall Street can you divide $700 million among 50 employees? It’s so painfully obvious to anyone with an ounce of objectivity that the problem leading to the 2008 crisis was the compensation. Any company that pays out crazy money like Wall Street should expect similar problems.
Keep in mind that to date, none of the Wall Street bankers were ever forced to pay back their bloated bonuses, despite the business being wiped off of the books. It does not work that way in any other business outside of Wall Street. Even now after this crash, these are the people who are considered to be part of polite society, but there’s nothing polite about this at all.
More on the sickening story of compensation at Lehman Brothers at the LA Times.