In case there were any doubts, Wall Street is reasserting themselves and putting on their crown, again. And to think Senator Dodd thinks the Volker plan is too aggressive. Huh.
The payout is about 19 percent of the $23 billion in revenue the company made from its investment banking and capital markets divisions, according to the Journal, citing a person familiar with the matter.
Each banker and trader will collect an average $300,000 to $500,000 for 2009, a figure close to what Bank of America paid in 2006, its peak year for such payouts, the report said.
