Tuesday, May 10, 2011

Navy Seal Pay Compared With Wall Street Exec's

Navy SEALs get paid about $54,000 a year.  The CEOs of Goldman Sachs and J.P. Morgan bring in around $20 million a year making about twice as much in a day as a Navy Seal earns in a year.  Hedge fund manager John Paulson got about $5 billion last year. Dean Baker over at Beat the Press notes, "If we assume a 3000 hour work year (presumably he had to put in some overtime), Paulson had to work about 2 minutes to earn as much as a Navy Seal does in a year." 

Given the massive failures on Wall Street that brought on the recession--devastating the lives of millions who had nothing to do with the housing bubble or financial crisis; is anyone really going to argue those on Wall Street are bringing more value to our society than Seals?

“There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”  --Warren Buffett

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