Wall Street Bank CEOs Trade Employee Pain for Shareholder Gain

Wall Street Bank CEOs Trade Employee Pain for Shareholder Gain

Scott Eells/Bloomberg

The 81-member Standard & Poor’s 500 Financial Index has climbed 27 percent this year, its biggest annual increase since 2003. Shareholders, impatient for the industry to boost profit, were rewarded as Wall Street CEOs cut jobs and pay, and exited businesses.