Monday, April 27, 2009

Crisis a Boon to Wall Street Execs...

According to a story in yesterday's NY Times, those who work at Wall Street firms "are on track to earn as much money this year as they did before the financial crisis began, because of the strong start of the year for bank profits."

I have to wonder - where is this money coming from?

Aren't these firms clogged up with toxic assets?

Didn't the negative balances on the books of these companies drag down the country's economy?

So why aren't profits for this quarter being used to recapitalize after the losses of last year?

Have we reached a point in American capitalism that only the taxpayer responsible for the losses on the books of the Wall Street firms?

No comments: