While banks have been castigated for their excessive pay levels, the pay gap between the so-called Wall Street superstars and ordinary wage earners is the elephant in the room.

Some shocking revelations on this gap from the Huffington Post warrant some attention. Check out the chart! Income inequality is getting worse, according to this report. The share of total US income making up by the top 10% of earners was around 35% in 1987 but within 20 years, this had increased to 50%.

The problem is that Wall Street doesn't even see this as a problem. According to Bloomberg, Goldman Sachs international adviser Brian Griffiths says income inequality is a good thing. "We have to tolerate the inequality as a way to achieve greater prosperity and opportunity for all," Griffith said.

He also suggested that the banking industry fix up its image by giving more to charity.

These people don't have a clue. And it's creating enormous problems for Wall Street further down the track by feeding the growing anti-corporate feeling. It will end badly.