Workers suffer while bosses receive big bonuses
Wall Street’s big banks disclosed the bonuses their chiefs will receive in addition to their base income for 2011. Although top banks all suffered dramatic falls in their stock value this year, their executives will be rewarded with hefty bonuses, raising their earnings to over $27 million at Citigroup, $23 million at JPMorgan, and $9.7 million at Morgan Stanley. Meanwhile, middle-ranking employees have suffered large drops in income and little to no bonuses.
