“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx
Jan 8, 2007
Year-end bonuses on Wall Street made a very sweet Christmas gift: 24 billion dollars, just for the financial few. That amount of money is more than the Gross Domestic Product of the world’s 90 poorest countries. Imagine, 90 countries where all labor and services for the entire year does not bring in as much money as a few elite traders and executives made on Wall Street just in their bonuses.
Or put it another way – these bonuses could have paid all the wages of more than one million U.S. workers working at $11 an hour – for one whole year!