As Foreclosures Hit All-Time High, Wall Street on Pace to Hand Out Record $140B in Employee Bonuses
The Dow Jones Industrial Average has topped 10,000 for the first time in a year, as JPMorgan Chase reported massive profits in the third quarter. Meanwhile, the Wall Street Journal is reporting that major US banks and securities firms are on pace to pay their employees about $140 billion this year—a record high. But on Main Street, foreclosures are also at record levels, and the official unemployment rate is expected to top ten percent. Full Story »
Posted by Tanya J. Maurer
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