Bankers' 2010 bonuses could have paid for 3.5 million jobs
If last year’s bank executive bonuses from the six biggest financial firms we bailed out went to creating jobs with middle-class jobs with benefits, the unemployment rate would plummet to 6.75% – the same as before the financial crisis.
According to the latest data on year-end bank bonuses, 3.5 million jobs with benefits could’ve been created by spending last year’s reported executive bonuses from only six firms: Wells Fargo, Chase, Bank of America, Goldman Sachs, Morgan Stanley and CitiBank.