The Shock Doctrine

Bonus Pools On Wall Street Continue To Fatten

Jessica Papini and Joe Bel Bruno , Wall Street Journal, October 15, 2009

"Goldman Sachs Group Inc. (GS) and JP Morgan Chase & Co.'s (JPM) investment banking and asset management units are setting aside money to dole out huge bonuses this year and are likely to surpass even the boom paydays of 2007....

"While bonuses were down across the industry last year, this year bonuses are starting to soar, with some companies set for a record compensation year. U.S. banks and securities firms are on track to pay employees roughly $140 billion this year, a record high, according to analysis from The Wall Street Journal."