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Bank Profits Plunged In 2011, Banker Bonuses Rose

It will come as no surprise to many but everyone’s favorite enemy #1 , the US banker, decided to give himself a well-earned pay-rise in 2011 – according to data from Moody’s Analytics ( via Crain’s ). What is perhaps a little more surprising is the sheer gall of it given that the financial industry profits plunged over 70% from $27.6bn in 2010 to a mere $7.7bn in 2011. While the rise in salaries is not large, and the average man on the street actually saw a bigger rise, the critical point is that for two years in a row – from 2009 to 2010, and now from 2010 to 2011 – banking industry profits have dropped like a stone but the average salary of those oh-so-deserving ‘Wall-Street’ers has risen . Wall Street industry profits: Wall Street average salary (and Main Street): Source: Crain’s New York Business and Zero Hedge

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Bank Profits Plunged In 2011, Banker Bonuses Rose

It will come as no surprise to many but everyone’s favorite enemy #1 , the US banker, decided to give himself a well-earned pay-rise in 2011 – according to data from Moody’s Analytics ( via Crain’s ). What is perhaps a little more surprising is the sheer gall of it given that the financial industry profits plunged over 70% from $27.6bn in 2010 to a mere $7.7bn in 2011. While the rise in salaries is not large, and the average man on the street actually saw a bigger rise, the critical point is that for two years in a row – from 2009 to 2010, and now from 2010 to 2011 – banking industry profits have dropped like a stone but the average salary of those oh-so-deserving ‘Wall-Street’ers has risen . Wall Street industry profits: Wall Street average salary (and Main Street): Source: Crain’s New York Business and Zero Hedge

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Facebook Cofounder Continues To Offload Shares

Facebook co-founder Dustin Moskovitz has sold over 1.3 million of his shares in the social network over the last two weeks. Moskovitz converted some of his Class B shares – the kind that carry voting rights – into Class A shares and has been getting rid of stock at 150,000 shares a day since a couple of days after the first lock-up period on early investors ended. Pre-IPO investors are tied into their shares for a certain period, the lock-up, to prevent a run on the stock on the first day of trading, which would stop any public company from getting off the ground. Now that he’s free to do so, Moskovitz has offloaded 1.35 million shares in total at prices ranging from $19.19 to $19.99 each, raising around $26.2m. Through his trust, Moskovitz still owns 6.15m Class A shares and 106.8m B shares, according to filings with the Securities and Exchange Commission. Read More: Facebook co-founder Moskovitz scrambles to offload his shares

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Facebook Cofounder Continues To Offload Shares

Facebook co-founder Dustin Moskovitz has sold over 1.3 million of his shares in the social network over the last two weeks. Moskovitz converted some of his Class B shares – the kind that carry voting rights – into Class A shares and has been getting rid of stock at 150,000 shares a day since a couple of days after the first lock-up period on early investors ended. Pre-IPO investors are tied into their shares for a certain period, the lock-up, to prevent a run on the stock on the first day of trading, which would stop any public company from getting off the ground. Now that he’s free to do so, Moskovitz has offloaded 1.35 million shares in total at prices ranging from $19.19 to $19.99 each, raising around $26.2m. Through his trust, Moskovitz still owns 6.15m Class A shares and 106.8m B shares, according to filings with the Securities and Exchange Commission. Read More: Facebook co-founder Moskovitz scrambles to offload his shares

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Facebook Cofounder Continues To Offload Shares

Facebook co-founder Dustin Moskovitz has sold over 1.3 million of his shares in the social network over the last two weeks. Moskovitz converted some of his Class B shares – the kind that carry voting rights – into Class A shares and has been getting rid of stock at 150,000 shares a day since a couple of days after the first lock-up period on early investors ended. Pre-IPO investors are tied into their shares for a certain period, the lock-up, to prevent a run on the stock on the first day of trading, which would stop any public company from getting off the ground. Now that he’s free to do so, Moskovitz has offloaded 1.35 million shares in total at prices ranging from $19.19 to $19.99 each, raising around $26.2m. Through his trust, Moskovitz still owns 6.15m Class A shares and 106.8m B shares, according to filings with the Securities and Exchange Commission. Read More: Facebook co-founder Moskovitz scrambles to offload his shares

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Facebook Cofounder Continues To Offload Shares

Facebook co-founder Dustin Moskovitz has sold over 1.3 million of his shares in the social network over the last two weeks. Moskovitz converted some of his Class B shares – the kind that carry voting rights – into Class A shares and has been getting rid of stock at 150,000 shares a day since a couple of days after the first lock-up period on early investors ended. Pre-IPO investors are tied into their shares for a certain period, the lock-up, to prevent a run on the stock on the first day of trading, which would stop any public company from getting off the ground. Now that he’s free to do so, Moskovitz has offloaded 1.35 million shares in total at prices ranging from $19.19 to $19.99 each, raising around $26.2m. Through his trust, Moskovitz still owns 6.15m Class A shares and 106.8m B shares, according to filings with the Securities and Exchange Commission. Read More: Facebook co-founder Moskovitz scrambles to offload his shares

Link

Facebook Cofounder Continues To Offload Shares

Facebook co-founder Dustin Moskovitz has sold over 1.3 million of his shares in the social network over the last two weeks. Moskovitz converted some of his Class B shares – the kind that carry voting rights – into Class A shares and has been getting rid of stock at 150,000 shares a day since a couple of days after the first lock-up period on early investors ended. Pre-IPO investors are tied into their shares for a certain period, the lock-up, to prevent a run on the stock on the first day of trading, which would stop any public company from getting off the ground. Now that he’s free to do so, Moskovitz has offloaded 1.35 million shares in total at prices ranging from $19.19 to $19.99 each, raising around $26.2m. Through his trust, Moskovitz still owns 6.15m Class A shares and 106.8m B shares, according to filings with the Securities and Exchange Commission. Read More: Facebook co-founder Moskovitz scrambles to offload his shares