{"id":8963,"date":"2008-10-27T00:00:00","date_gmt":"2008-10-27T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"broken-securities-industry-still-has-20-billion-to-pay-bonuses","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/10\/2008\/broken-securities-industry-still-has-20-billion-to-pay-bonuses.html","title":{"rendered":"Broken Securities Industry Still Has $20 Billion to Pay Bonuses"},"content":{"rendered":"<p>Bloomberg &#8211; Five straight quarters of losses and a 70 percent slide in its stock this year haven&#8217;t stopped Merrill Lynch &amp; Co. from allocating about $6.7 billion to pay bonuses. <\/p>\n<p>Goldman Sachs Group Inc. and Morgan Stanley, both still on track for profitable years, have set aside about $13 billion for bonuses after three quarters, down 28 percent from a year ago. Even some employees at Lehman Brothers Holdings Inc., which declared the biggest bankruptcy in U.S. history last month, will get the same bonus they received a year ago. <\/p>\n<p>The worst financial crisis since the Great Depression, a $700 billion taxpayer bailout, public outcry over excessive pay and the demise of three of the biggest securities firms won&#8217;t deter Wall Street from offering year-end rewards to employees on top of their salaries, compensation experts say. <\/p>\n<p><strong><a title=\"Read Complete Article\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601109&#038;sid=aVann0.cv9Tw&#038;refer=home\" target=\"_blank\">Read Complete Article<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; Five straight quarters of losses and a 70 percent slide in its stock this year haven&#8217;t stopped Merrill Lynch &amp; Co. from allocating about $6.7 billion to pay bonuses. Goldman Sachs Group Inc. and Morgan Stanley, both still [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[1476,646,1844,1479,1301,2540,3403,926,925,96,1517,103,101,1516,2291,2593,436],"class_list":["post-8963","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-ambiguity","tag-arthur-sulzberger","tag-contagion","tag-credit-crisis","tag-financial-institutions","tag-financial-statements","tag-genius","tag-goldman-sachs-group","tag-goldman-sachs-group-inc","tag-lehman-brothers-holdings","tag-lehman-brothers-holdings-inc","tag-pergam-finance","tag-raanan-agus","tag-sailfish-capital-partners-llc","tag-target-corp","tag-u-s-treasury","tag-winton-capital-management"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=8963"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/8963\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=8963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=8963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=8963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}