1.17.2019

That Wall Street we've heard so much about

It's Official: Wall Street Topped $100 Billion in Profit - Bloomberg


Within the banks, the benefits of the tax cuts are flowing more heavily to shareholders than their rank and file. Profit at the five firms jumped 28 percent from the previous high, while employee compensation expenses climbed just 1.8 percent from last year.


[CAUTION: Exactly what is meant by "employee compensation" is uncertain, as affairs on the Street do not much resemble the affairs of real life. Still….]

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