Wall Street Doing Just Great

Mar 1, 2010

Bonuses to Wall Street executives soared for 2009, up 17 percent over 2008. The reason, according to the New York Times, was simple: “Wall Street firms had a great year.” That is, in the way Wall Street thinks about the world.

“This isn’t the rising tide lifting all boats,” said a senior scholar at the Institute for Policy Studies: “This is the rising tide lifting a few yachts, while other people’s boats sink further underwater.”

Exactly.