Rep. Peter Welch (D-Vt.) released the following statement Wednesday following Morgan Stanley’s announcement of a 30 percent increase in compensation between 2008 and 2009. Last week Welch introduced the Wall Street Bonus Tax Act (H.R.4426), details of which can be found by clicking here.

“The bonus figures announced by Morgan Stanley today demonstrate once more that Wall Street just doesn’t get it. As ordinary Americans struggle to find work and as small businesses struggle to obtain credit, Wall Street bankers have returned to their old ways. Rather than shoring up their balance sheets or investing in Main Street recovery, they have chosen instead to line their pockets with profits made on the back of the American taxpayer.”