Economics Justice

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.

See End The Banker Bonuses This Holiday Season.