The Spark

“The emancipation of the working class will only be achieved by the working class itself.” — Karl Marx

Wall Street Doing Just Great

Mar 1, 2010

Bonuses to Wall Street executives soared for 2009, up 17% 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.