Wall St bonuses should go to ZERO

Discussion in 'Wall St. News' started by turkeyneck, Nov 11, 2008.

  1. Nov. 11 (Bloomberg) -- U.S. taxpayers, who feel they own a stake in Wall Street after funding a $700 billion bailout for the industry, don't want executives' bonuses reduced. They want them eliminated.

    ``I may not understand everything, but I do understand common sense, and when you lend money to someone, you don't want to see them at a new-car dealer the next day,'' said Ken Karlson, a 61-year-old Vietnam veteran and freelance marketer in Wheaton, Illinois. ``The bailout money shouldn't have been given to them in the first place.''

    http://www.bloomberg.com/apps/news?pid=20601087&sid=apRDGKM7Sbi8&refer=home
     
  2. poyayan

    poyayan

    They will go ahead and pay themselves anyway even there are anger across the whole country.

    Need to retain good people? Ha. I personally feel insulted by that statement.
     
  3. Pure cash grab.
     
  4. Obviously you have never worked for an investment bank as a lot of the staff would have earned the firms good money and deserve to be paid for their efforts. Its laughable so many of you come on complaining about the US becoming Solicalist but dont want to pay people what they are worth the irony is palpable.
     
  5. Daal

    Daal

    the fact that people are disgusted by employees making money and using the 'tax payer money' as an excuse is disguting. bogan7 nailed it
     
  6. belmondo

    belmondo

    to earn money is their job. so far, most of companies are in deep shi*t and have losses. so there should be no bonuses only salary.
     
  7. Manni

    Manni

    the scum on wall st that took govt money should get no bonuses and have their salaries cut as well until the money is paid back.
     

  8. i totally agree with you except for one point. when Paulson took the 9 banks into the room and they did not know why. paulson forced the 9 biggest banks to take money even though some of them did not need it.

    Id be a little annoyed if i was JPM or WFC and i thought i was doing the right thing by taking government money which was explain to me all i needed to do was lend it into the system. now a few weeks later your putting conditions on it?

    yeah i think we can all agree and be angry when aig ceo's and the WM people are getting big payouts, but how about great companies who did an amazing job this year who dont need or want government money who now have it?
     
  9. Exactly.

    I suppose when employees run hundred-billion-dollar Banks into the ground, they deserve to be compensated....handsomely!!!

    :p
     
  10. I uhh....thought they were supposed to be lending it out....

    So maybe they should increase their lending instead of paying more bonuses with the money. Talk about risk free trading!

    They could take the free money, lend it out...

    If they lose it, oh well it was free money...and if they generate revenue from the lending, then they not only helped out their fellow Americans in need of credit, but they also made even more money RISK FREE!

    Forcing everyone to take money was nothing more than clever marketing. That way in the future once the smoke clears it will make it harder for the average American to know who fucked up or not, since ALL the banks had to take money...It takes away responsibility from the shitty banks by helping them blend in. That way they can pretend they were in some collective group of banks the government gave money to for the good of America, not because that particular bank and fucked up.

    Just another smokescreen it seems. I am no expert so shoot me if I missed something here.
     
    #10     Nov 11, 2008