Morgan Stanley suffered a really bad year last year. The firm lost money, the first time in it's 74 year history. You'd think things would be tight there, but not for the high paid executives. They set aside $14.4 billion for salaries and bonuses. Needless to say, this has the folks in Washington fuming. It should have the shareholders in Morgan Stanley fuming as well.
I guess these guys are not content with being extremely rich, they feel the need to be super-rich. Somehow, all these obscene salaries and bonuses make me not so much envious as sick to my stomach.
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