Folbre Blogs Big Banker Bonuses at NYT

In her regularly featured New York Times Economix blog, UMass Prof Nancy Folbre draws on new research by UMass’s James Crotty to look at the large bonus payments to bankers, even in the years of the finance-led crash.

Banker Bonus Rain by Nancy Folbre  Wall Street firms have always been famous for their generous bonuses to managers and traders — their so-called rainmakers. …What is especially striking is the high level of these bonuses in 2007 and 2008, years in which profits were negative. [Read the rest at http://economix.blogs.nytimes.com/2009/11/02/banker-bonus-rain/]

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