Wall Street Protesters Hit the Bull’s-Eye – NYTimes.com

29 Oct

From 1979 to 2006, the financial industry’s share in the nation’s corporate profits grew from a fifth to almost a third. By 2006, bankers and insurers were making 70 percent more, on average, than workers in the rest of the private sector. Then they set off one of the worst financial crises in living memory, and taxpayers bailed them out.

The protesters’ grievances may be aimed at Wall Street as a metaphor for broader economic forces. But there is nothing metaphorical about who is taking home the wealth. The protesters might even aim a bit higher: the real income growth is happening in the top 0.1 percent. There are lots of bankers there, too.

via Wall Street Protesters Hit the Bull’s-Eye – NYTimes.com.

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