Back To The Bonus

According to this article is TimesOnline, investment bankers in London and New York are expected to enjoy the largest bonuses on record.

That's right: the largest bonuses on record.

Apparently, after 'the worst financial crisis since the great depression', the market is going through one of the greatest bull runs in decades. J.P. Morgan reported a 72% rise in third quarter profits. London employees at Goldman Sachs are expected to receive an average of about $748,000 in salary and bonus this year.

So does this mean the financial crisis is over, or is it simply a temporary uptick? I'll let economist answer that one, but if it turns out that the world has gotten itself out of financial crisis, I suggest that we celebrate bonus season this year. After all, if investment bankers are raking in million dollar bonuses, it means that coordinated efforts of the world's economies have been able to limit the effects of a financial crisis that had the potential to paralyse the world's economy for many years.