NEW YORK ( TheStreet) -- I've been waiting patiently for Wall Street to thumb its nose at the Financial Crisis Inquiry Commission and its best-selling report on the causes of the 2008 financial crisis. At last that day has arrived. It took precisely zero time.You see, at the same time that the presses were grinding out copies of the 662-page, unsurprising but comprehensive report, the banks that got us into this mess were clutching firmly to one of their most cherished practices: The habit of paying themselves obscene sums of money. Wall Street compensation hit a record $135 billion last year, a 5.7% increase over 2009. Even though more of that pay came in the form of stock awards than in prior years, and there were "clawback" provisions in the event of future naughtiness, it really doesn't matter.
Big Bank Bonuses Flout Clout of FCIC
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
Every recommendation goes through 3 layers of intense scrutinyquantitative, fundamental and technical analysisto maximize profit potential and minimize risk.
Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.