Bankers Will Be Amply Rewarded for Their Greed Resiliency
Has Wall Street not suffered enough? Don't answer that. The point is, more and more studies are coming to the conclusion that Wall Street pay will be up this year. How can we say this, euphemistically?
"I did not expect compensation would come back the way it has," Mr. Johnson said. "I underestimated the industry's resiliency."
Yes, that will do just fine! Resiliency, the chief characteristics of investment bankers. A survey last month predicted a 4% rise in Wall Street pay; the new survey out today predicts a 5% raise, "with employees in some businesses like asset management getting increases of 15 percent."
The reporter also gets an owner at Dan Abrams' awful-person restaurant The Lion to talk about how much expensive wine they're selling, so look for that bit of color to re-emerge as a standard journalistic meme in 2011. Hope you enjoyed The End of Bottle Service while it lasted.
