Banks Make Record Profits In Second Quarter

(Maybe the invisible hand is invisible because it doesn’t exist.)

At the same time, banker pay is set to spike up above the 2009 bonus levels that brought criticism on the industry. The banks aren’t just on track to pay $127 billion in compensation and $23 billion in bonuses. They’re also returning to the dangerous compensation structures that helped drive the fraudulent behavior and gambler’s mentality underlying the financial crisis.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s