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October 19, 2009

All Business: Focus on Wall St. bonuses misses real story

  • The worry is that the $224 million spent on lobbying by the financial industry in the first half of this year will lead lawmakers to back down on their promises for major reform.
    AP Business Writer

    NEW YORK — Get over it, America.

    Wall Street bankers make too much money. The latest example: Goldman Sachs says it has set aside $16.7 billion so far this year for compensation — or about $530,000 per employee. Not bad for a company that a year ago received $10 billion in federal money as well as $12.9 billion from the government's bailout of American International Group Inc.

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