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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
A Wall Street pay puzzle
Posted by:
Judge Crater
()
Date: January 18, 2010 10:32AM
By Robert J. Samuelson
Monday, January 18, 2010
Why does Wall Street make the big bucks? A nation with 10 percent unemployment is understandably puzzled and outraged when the very people at the center of the financial crisis seem to be the first to recover and are pulling down fabulous pay packages. At Goldman Sachs, the average pay for 2009 has been estimated at nearly $600,000; at J.P. Morgan Chase's investment bank, it's been reckoned at slightly below $400,000. These averages conceal multimillion-dollar bonuses for top traders and investment bankers; underlings get smaller sums. Are Wall Street's leaders that much smarter and more industrious than everyone else?
http://www.washingtonpost.com/wp-dyn/content/article/2010/01/17/AR2010011701931.html?hpid%3Dopinionsbox1⊂=AR
Monday, January 18, 2010
Why does Wall Street make the big bucks? A nation with 10 percent unemployment is understandably puzzled and outraged when the very people at the center of the financial crisis seem to be the first to recover and are pulling down fabulous pay packages. At Goldman Sachs, the average pay for 2009 has been estimated at nearly $600,000; at J.P. Morgan Chase's investment bank, it's been reckoned at slightly below $400,000. These averages conceal multimillion-dollar bonuses for top traders and investment bankers; underlings get smaller sums. Are Wall Street's leaders that much smarter and more industrious than everyone else?
http://www.washingtonpost.com/wp-dyn/content/article/2010/01/17/AR2010011701931.html?hpid%3Dopinionsbox1⊂=AR
Re: A Wall Street pay puzzle
Posted by:
WashingTone-Locian
()
Date: January 18, 2010 10:37AM
Wall Street is getting big pay packages because they have successfully privatized profit and socialized risk. It's time for some of these fuckers to go to prison.
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http://bible.cc/1_corinthians/13-11.htm
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http://bible.cc/1_corinthians/13-11.htm
Re: A Wall Street pay puzzle
Posted by:
Vince(!)
()
Date: January 18, 2010 04:50PM
(throws open window and screams) ITS MY MONEY AND I WANT IT NOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Re: A Wall Street pay puzzle
Posted by:
Gravis
()
Date: January 18, 2010 06:01PM
WashingTone-Locian Wrote:
-------------------------------------------------------
> Wall Street is getting big pay packages because
> they have successfully privatized profit and
> socialized risk. It's time for some of these
> fuckers to go to prison.
+1
"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."
-------------------------------------------------------
> Wall Street is getting big pay packages because
> they have successfully privatized profit and
> socialized risk. It's time for some of these
> fuckers to go to prison.
+1
"the wisdom of the wise will perish, the intelligence of the intelligent will vanish."