Please ensure Javascript is enabled for purposes of website accessibility
Home / News / Economy / DiNapoli: Wall Street seeing big profits

DiNapoli: Wall Street seeing big profits

ALBANY — State Comptroller Thomas DiNapoli says cash bonuses on Wall Street may be even larger this year than after last year’s record performance for the financial center.

DiNapoli’s analysis shows Wall Street is on course for its fourth best year ever, with profits exceeding $19 billion.

Although short of last year’s record $61 billion profit, Wall Street firms may still dole out bigger individual bonus checks this year because of continued staff cutting.

In 2009, nine of the nation’s biggest financial firms paid individual bonuses of $1 million or more to nearly 5,000 employees.

Wall Street is critical to New York taxpayers. State government has traditionally depended on the financial sector to provide 20 percent of tax revenue.