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Democracy Now!

As Foreclosures Hit All-Time High, Wall Street on Pace to Hand Out Record $140B in Employee Bonuses

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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. We speak to former bank regulator
William Black, author of The Best Way to Rob a Bank Is to Own One.

 

 

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