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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: ild who wrote (73700)	11/6/2006 1:18:30 AM
From: CalculatedRisk	Read Replies (1) of 110194

Bonus Pay for Wall Street Big Five Surges to Record $36 Billion bloomberg.com By Christine Harper Nov. 6 (Bloomberg) -- Never in the history of Wall Street have so many earned so much in so little time. Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos. are about to reward their 173,000 employees with $36 billion of bonuses. That's a 30 percent increase from last year's record, and it doesn't include the billions more that will be paid by Citigroup Inc., Bank of America Corp. and JPMorgan Chase & Co., the three largest U.S. banks, as well as the hundreds of hedge funds and private-equity firms that constitute the financial industry. Enriched by the unprecedented value of takeovers, equity trading and credit derivatives, ``this year will be the best ever for the major brokerage firms,'' said Brad Hintz, an analyst at New York-based Sanford C. Bernstein & Co. <MUCH MORE>

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