Thursday, December 13, 2007

on the luxury of philantropic galas and the contribution of bernake

how can wall street gurus be above the fray of the subprime mess and the interest rate decisions when they long for hefty bonuses at the end of the year ? according to bloomberg

Much of the giving is fueled by Wall Street, which is paying record bonuses this year, totaling almost $38 billion, according to data compiled by Bloomberg News.

``Wall Street is fortunate. In both good and difficult times we earn good incomes, so it's tremendously positive that we're very philanthropic,'' said Steven Starker, co-founder and general partner of institutional trading firm BTIG. ``The breadth of giving

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