Posted on 02/15/2009 8:01:36 AM PST by Hythloday
While I love my own brother, I just don’t understand Wall Street.
My brother (an investment banker) and I had a heated conversation on the “bailout” and the bonuses that have been paid to the investment bankers that have utterly failed on Wall Street. And I just don’t understand the argument...
“the bonuses that have been paid to the investment bankers that have utterly failed on Wall Street”
who said the ones who failed were getting the bonuses? it’s a dhimmocrat mindset that paints with such a large brush. “the investment bankers”, “the blacks”, “the rednecks”
“...90% of the bank’s employees had nothing to do with the failure.”
And 90% of Muslims are not terrorists.
Straw man argument. Most Wall Streeters I know are ‘Rats.
Straw man argument. Dems are trying to act like CEOs caused this crises while exalting Frank and Dodd as the solution.
Wall Street types are the new welfare queens, and should be granted the same respect as such.
It’s a small, narrow street on the southwestern end of Manhattan, lined with office buildings...but that’s not important right now.
The agrument makes no sense. Even if he’s correct that “90% of the bank’s employees had nothing to do with the failure” that would not justify outrageous bonuses to those 90%.
” who said the ones who failed were getting the bonuses? “
Who said that the Cat workers who got laid off had anything to do with sales being down??
When a business is doing badly, everybody in that business suffers....
Or do you believe, like so many ‘experts’ apparently do, that when you dip a bucket of water out of a pool, it leaves a hole in the water??
Using United Airlines as a benchmark, If banks could take the bancupcy route, the officers would have been paid bonuses to stay, then when they emerge from bancrucpy, the officers get another bonus for getting out of bancrupcy.
What’s the difference ?
They have chosen to structure their pay such that it appears to be a bonus. If they just called it salary it would be disadvantageous to them. I think that in this circumstance their “bonuses” should be tied to profitability. If they don;t like that arrangement they should renegotiate their pay as salary.
Bankers that don't generate significant cashflow are canned.
LOL. Rimshot.
Does anybody realize that the worlds elite bankers floated some 15 trillion dollars of phony paper and all that non-existent wealth is now truly non-existent. But the perpetrators of this cataclysmic fraud ( each of a few thousand of them ) are still sitting on billions and billions of actual money ( gold and commodities ) and they are untouchable. No prosecution will ensue.
Your political system is an illusion. It does not exist.
“When a business is doing badly, everybody in that business suffers”
Is that your law, or what? Do you want to impose draconian democrat rules on wages?
I complained to our human resources/benefits department.
I must not have been the only one that had issue with UBS making massive coin on us employees... we finally kicked UBS to the curb and signed on with E-Trade.
Screw you UBS... and the horse you rode in on.
Banks are regulated. As such, they cannot file for backruptcy protection.
They fail or they are saved.
The difference is $850 Billion worth of bailout.
The difference is $850 Billion worth of TAX bailout.
Taxpayer money is involved.
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