Posted on 01/11/2006 5:58:18 PM PST by ARealMothersSonForever
NEW YORK - Bonuses at Wall Street firms climbed to a projected record of $21.5 billion last year as revenue grew, according to the New York state comptroller's office.
Comptroller Alan Hevesi said Wednesday that 2005's bonus tally was $2 billion more than the old record, which was set in 2000. In 2004, Wall Street bonuses came to an estimated $18.6 billion.
Last year's average bonus was pegged at $125,500, also a record, Hevesi said.
Revenue at Wall Street firms rose 44.5 percent through the first three quarters of 2005, climbing to the highest level since 2000, the year when the stock market peaked, Hevesi's office said. The mergers-and-acquisitions business accounted for most of the surge.
"The securities industry had a very good year during 2005," Hevesi said.
Fraud is not condoned. However, every person that chooses to invest must have and read a prospectus. Forced frauds such as union pension funds, are a different thing. Discipline and education are important. Panic buying, panic selling, and over-leveraging on margin are stupid. Market research, trending, and non-emotional decisiveness are shrewd. Not fraudulent.
Wall Street has been OPEN for more than 30 years; as has other exchanges. And even when it was more of an "old boy" network, it was still more open than you are claiming. Neither, I might add, is it a "scam".
No, it isn't...it's that green with envy mindset, that puts your shorts in a bunch. ;^)
Then stay out of it. Put your money under your mattress and don't complain about inflation.
I followed her advice in 1999 and ended up losing about $5,000.
Only good that came of the 2000 free-fall is I don't listen to anal-ysts fools anymore... they're all crooks with $3,000 suits. I now only invest in low cost index funds (total stock and total bond).
"Life is tough. Life is tougher if you're stupid."
John Wayne.
Why should the fraud bother you? You know better.
A fool and his money were lucky to get together.
The only reason people (usually wealthy ones) are taken in by Wall Street is their own greed.
good example, those are the kinds of people I cannot stand. and Jack Grubman.
If she had such wholesome thoughts, then why did I see her smug (only the little people pay taxes) face in those glossy 4-color business mags (Fortune, Business Week, Forbes, etc.)?
Try preparing a prospectus in connection with an IPO, undergoing the multiple layers of review and audit, then respond to the pages of SEC comments questioning any unclear points in your accounting methodology before a filing, and tell me again that Wall Street is a fraud.
Buying stock in a company that has no earnings and a suspect business model and then losing your shorts is nobody's fault but your own.
Re-read "Bonfire of the Vanities" someday! Nothing much has changed since Tom Wolfe wrote his book in 1987. I could never work of Wall Street, make a living as a used car salesman or get elected to anything. I don't begrudge these guys, but I sure don't listen to 'em either!
BTW, that Supreme Court job that Alito is letting himself be tortured over pays $203,000. You gotta know what's really important!
And she did not even kiss you? Sorry, I could not resist. Following any individuals investment advice without sound research -on each and every item- can be a recipe for disaster. Unless of course you are married to her, and her daddy is throwing cash at you. Only then is it different
Oh wait, the postage increase is the butterfly that is spawning the hurricane. Riiiiiiiight.
My question is how much of that did you see?
"Free" advice is worth about what you pay for it. Boiled down to their essence what these guys (and gals) are is nothing more than Used Stock Salesmen. They may be smart as the dickens and have gone to the finest schools but their function in in life is to sell Wall Street's inventory to investors. Sometimes the inventory is a fine product at a reasonable price, like a Toyota, and sometimes it's a clunker of a Yugo priced like a Mercedes. Caveat Emptor! (It still works a whole lot better than Cuba, though.)
4.9% Unemployment, highest rate of home ownership in our history, yeah, we're REALLY suffering!
not when the investment is made based on fraudulent data. the average investor wasn't able to audit worldcom's books themselves, they have to invest based on public information and, in many cases, comments from analysts. if that information consists of lies, the investment loss is due to fraud, plain and simple.
A net of +17% ROI for anything I sold. I did not get greedy, and am still invested. How much did you lose?
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