Bank Bonuses Expect To Increase This Year
STEVE INSKEEP, host:
And at long last, after all those years of struggle, people on Wall Street are getting big bonuses. That's our last word in business today.
You will recall that bankers collected gigantic bonuses even during the worst of the financial crisis. Just a few weeks ago, President Obama signed a bill that could tighten pay rules. Lawmakers say Wall Street compensation created incentives that added to the crisis.
Now, the consulting firm Johnson Associates estimates that banker bonuses will likely rise as much as 15 percent this year. In fairness, the increase will not be universal. Stock and bond traders may see a drop-off in pay in 2010, since they made so very much in 2009.
Money managers for the wealthy should expect a fat bonus envelope at the end of this year.
RENEE MONTAGNE, host:
And that's the business news on MORNING EDITION, from NPR News.