You are here: Fairness.com > Resources > On Wall Street, Bonuses, Not Profit...

On Wall Street, Bonuses, Not Profits, Were Real

Date: December 18, 2008
Author: Louise Story
QUOTE: Merrill’s record earnings in 2006 — $7.5 billion — turned out to be a mirage. The company has since lost three times that amount, largely because the mortgage investments that supposedly had powered some of those profits plunged in value. Unlike the earnings, however, the bonuses have not been reversed.

Article MetaInformation:

Key People:
Key Organizations:
Subject & Geographic Categories:

Comments:

none
*User comments are posted without Fairness.com LLC's prior review or approval, and Fairness.com LLC takes no responsibility for them; please see our Conditions of Service Agreement.