Crisis has not altered Wall Street [View All]

[MisterP]

Source: Los Angeles Times

Despite a large second-quarter operating loss, Morgan earmarked $3.9 billion for bonuses and other compensation. That was almost three-quarters of its quarterly revenue, far more than firms typically shell out.

A year after Lehman's record-setting bankruptcy sent shivers through the global financial system and sparked predictions of a wholesale reordering in the way Wall Street operates, one old saw remains: The more things change on Wall Street, the more they stay the same.

...

But on the whole, Wall Street has recovered more quickly than expected with little difference in how it does business. And the unapologetic pursuit of money remains as deeply rooted as ever.

Bellwether firms led by Goldman Sachs Group are churning out mouth-watering profits. Risk-taking and aggressive securities trading are mounting a comeback. And compensation -- the lifeblood of Wall Street -- is pushing back toward pre-crisis levels.


Read more: http://www.latimes.com/business/la-fi-wall-street14-2009sep14,0,318685,full.story

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don't worry, they'll cherish our bundled life insurance policies like their own flesh and blood...
FAUX headline, 2011: "Insuring non-whites and illegals caused life-insurance market to crash!!!"