Morgan Stanley plans to pay £2.4bn in bonuses aside from asking for £6.4bn bail out from taxpayers

Posted on 18. Dec, 2008 by Shera Crossan in Business & Finance, Economy, Hidden Crimes, Politics, Shera Crossan, Top Stories

A banking giant is handing out £2.4billion in bonuses to its City workers just months after being bailed out by the U.S. government.

Beleaguered Wall Street firm Morgan Stanley is planning to pay its 5,000 London staff an average of just over £53,000 each, despite the current financial crisis.

It comes just a day after Goldman Sachs revealed it is paying a staggering £4.3billion in bonuses to its staff  -  despite posting its first quarterly loss in a decade. more