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Big Bank Bonuses May Be Headed For Record Year

By Pat Garofalo  

"Big Bank Bonuses May Be Headed For Record Year"

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According to a new report from The New Bottom Line and The Public Accountability Initiative, bonuses at seven of the biggest U.S. banks — Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, US Bank, and Wells Fargo — will total about $156 billion in 2011, which would be “slightly larger than last year’s record breaking number.” Already, six of those seven banks “set aside more money for compensation through the first three quarters of 2011 than they did in the first three quarters of 2010.”

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