While Goldman Sachs rewards its bankers, the ire of the masses mounts

At Goldman Sachs, for example, bonuses of more than $1 million went to 953 traders and bankers.
“There’s this assumption that everyone [on Wall Street] was like drunken sailors passing out money without regard to the consequences or without giving it any thought,” Mr. Profusek said. “That wasn’t the case.”

SHOOT: Actually, it was. It was a swindle, and the crazy thing is, Wall Street thinks everyone else is stupid, and that they're immune to the ire of the masses. Big mistake on both counts.

clipped from www.nytimes.com Nine of the financial firms that were among the largest recipients of federal bailout money paid about 5,000 of their traders and bankers bonuses of more than $1 million apiece for 2008, according to a report released Thursday by Andrew M. Cuomo, the New York attorney general. At Goldman Sachs, for example, bonuses of more than $1 million went to 953 traders and bankers, and Morgan Stanley awarded seven-figure bonuses to 428 employees. Even at weaker banks like Citigroup and Bank of America, million-dollar awards were distributed to hundreds of workers. The report is certain to intensify the growing debate over how, and how much, Wall Street bankers should be paid. Mr. Cuomo, who for months has criticized the companies over pay, said the bonuses were particularly galling because the banks survived the crisis with the government’s support. “If the bank lost money, where do you get the money to pay the bonus?” he said.