That included a cash retention bonus of $7,700 for a kitchen assistant, $700 for a “file administrator,” according to the FT. Senior executives took home bonuses of up to $4 million.
The financial products unit is scheduled to be awarded another $198 million in retention bonuses next March, but the Treasury Department’s “pay czar” Kenneth Feinberg wants that reduced.
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Why the headline?
Well, clearly, the problem is the $7,700 and $700 bonuses to the peons, and NOT the multi-million dollar bonuses to the “geniuses” who swap paper back and forth. Gee, you’d think you were taught that in school…
