Posted on 12/05/2008 11:47:46 AM PST by Red in Blue PA
With each passing day, the forecast for Wall Street bonuses only grows worse. In less than two weeks, Morgan Stanley and Goldman Sachs will tell their bankers and traders how much they will receive in annual bonuses for one of the worst years ever for the securities industry. Bonuses represent the bulk of a Wall Streeter's compensation and in a good year could reach anywhere from $500,000 to several million dollars for a top producer.
(Excerpt) Read more at cnbc.com ...
If you take taxpayer monies, you should forfeit the ability to get bonuses. Period.
Gee I didn’t know it was the American Way to pass out multi-million dollar bonuses to executives of companies who lose billions.
So by “worse”, they actually mean BETTER...
Exactly. My retirement funds got wiped out. As far as I’m concerned they did me a crappy job this year. A bonus is for a job well done, which they didn’t do.
If they were waiters I’d not leave a tip; just a note on a napkin telling them why they were stiffed.
Not to be a total cynic, but I don’t buy it.
They’ll finesse a way.
Just a little disinfo to throw off the proles.
You got that right.
They will claim they need to keep their top performers, but there are a couple of hundred thousand laid off people who could fill those positions, and their top performers were likely the ones who created the schemes that got them into this in the first place.
Got that right.
Bah! Where are those schmucks going to go to earn that kind of Pay? Let 'em go if they have so many job opportunities.
LOL, we agree but I bet you look upon that admiringly :>>
Their “top performers” got us into this mess! What is with the argument of not losing the “top talent”? Losing them should be Job #1.
A monkey could probably get better results than these einstein’s did. And all they want are bananas!
Well, it’s not only bonuses that are going from bad to worse, it’s the economy that’s going from bad to worse. Expect the coming Great Depression, again...
If a housekeeper or a nanny performed to the level of these Welfare Queens, you’d have them arrested.
No, actually I don’t. I suppose you know I’m a small biz owner, hence the ‘admiringly’ comment.
My biz partner and I haven’t taken a bonus from our company - cash dispersement - since 2002. Better things to do with the cash, like Christmas bonus’s for the staff that actually makes this company work, for just one example.
As it relates to these huge corporations that routinely give bonus’s to top management while losing millions and sometimes BILLIONS....screw that. Its insanity.
Its also why I’ve been against ALL the ‘bailouts’ from day one, and as events are showing, that was the correct position from day one.
Who are these “top performers?” Does anyone’s 401(k) show a net increase in value so far this year?
If you take taxpayer monies, you should forfeit the ability to get bonuses. Period.
I was think it would be better if they returned the bonus they did not earn in the past years.
It was an assumption on my part based on prior interactions.
That’s why the old saw about assume rings true.
Shermy and I were commiserating that if McCain had come out table thumping against the Bailout, triangulated away from Obama and Bush/Pelosi/Paulson/Reid, he could have established a real differential.
But WhatIf’s are amusing, that’s all.
I only get a bonus if my company makes a profit. Why should they be any different?
‘Shermy and I were commiserating that if McCain had come out table thumping against the Bailout, triangulated away from Obama and Bush/Pelosi/Paulson/Reid, he could have established a real differential.’
Exactly what I thought. Had McCain back the House GOP to the hilt, things might have been different.
But I don’t know that McCain would have been much better, given the way he caves to liberal democrats, and trashes Republicans of a conservative stripe.
Woulda, coulda, shoulda. McCain lost the election on September 15th, 2008 in my view.
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