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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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See Also:
- Wall Street Bonuses Surge 17%, Top $20 Billion
- CHART OF THE DAY: Banks Continue To Pull The Rug Out From Under The Economy