Wall Street Bonuses Surge, but Profits Grow Faster
New York City News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Wall Street bonuses hit a record high of $49.2 billion in 2019, with an average payout of $246,000. However, profits surged even faster, indicating potential trouble ahead. Geopolitical tensions, particularly the war with Iran, are causing job growth to slow and market instability. Mayor Mamdani is banking on this sector to boost his budget, but watchdogs like the state comptroller and the Independent Budget Office are more cautious, projecting lower tax collections. As the state and city budgets are finalized, the future of New York Citys finances hangs in the balance.
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