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Tuesday, February 23, 2010 5:55:15 PM
CHART OF THE DAY: Bankers Getting Paid A Lot To Sit On Their Hands And Do Jack Squat
Joe Weisenthal and Kamelia Angelova | Feb. 23, 2010, 1:45 PM
Yesterday we pointed you to the latest data from the St. Louis Fed showing that bank lending continues to plunge.
Rather than ply businesses with loans, banks are instead opting to hoard cash and buy Treasuries.
And yet despite the lending shutdown, bonuses are back up, per fresh data out today from the New York Comptroller.
In other words, sitting on your hands and doing nothing is a pretty lucrative gig.
Joe Weisenthal and Kamelia Angelova | Feb. 23, 2010, 1:45 PM
Yesterday we pointed you to the latest data from the St. Louis Fed showing that bank lending continues to plunge.
Rather than ply businesses with loans, banks are instead opting to hoard cash and buy Treasuries.
And yet despite the lending shutdown, bonuses are back up, per fresh data out today from the New York Comptroller.
In other words, sitting on your hands and doing nothing is a pretty lucrative gig.
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