Maybe we need some spreading of the wealth - II

Recession or not, Wall Street bonuses for this year tell us the usual story - it is a fixture that remains in spite of the turmoils and the bailouts.

• Goldman Sachs has set aside about $6.85 billion for bonuses, or an average of $210,300 for each employee.
• Morgan Stanley has $6.44 billion for bonuses, or $138,700 per person
• Merrill Lynch has $6.7 billion for bonuses and set aside an average $110,000 for each employee.

What is especially egregious is that these very same banks were given taxpayer money to shore up their finances a couple of weeks back - part of the bailout package put together by Sec. Paulson.

Just as reminder, the mean annual wage for the average U.S. employee is about $40,690. (according to the May 2007 Bureau of Labor Statistics report). Time here has an article today on how the bailout will actually boost Wall Street bonuses.

We could use some distribution of wealth here...