THE COST OF OBAMA'S UNRELIEVED HATRED FOR WALL STREET
If you have tears, prepare to shed them now:
Wall Street is on pace to earn $19 billion, making 2010 its fourth-best year, according to a report by New York State Comptroller Thomas DiNapoli.
DiNapoli's report, released Tuesday, also said Wall Street's bonus pool may decline from last year, but the average cash bonus may be larger because the pool will be shared among fewer workers....
Oh, the humanity! This has been only the fourth-best year of the past thirty years for the Street! And fewer people are around to share in bonuses that are probably going to be even higher on average than last year's (which were 25% higher than 2008's) -- what a tragedy!
Thank God we'll probably elect a president in two years who won't continue trying to lay waste to the profit-making parts of America. I'm not sure Wall Street can survive many more years like this.
(The report is in this PDF.)