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About three dozen of the top publicly held securities and investment-services firms—which include banks, investment banks, hedge funds, money-management firms and securities exchanges—are set to pay $144 billion in compensation and benefits this year, a 4% increase from the $139 billion paid out in 2009, according to the survey. Compensation was expected to rise at 26 of the 35 firms.
The data showed that revenue was expected to rise at 29 of the 35 firms surveyed, but at a slower pace than pay. Wall Street revenue is expected to rise 3%, to $448 billion from $433 billion, despite a slowdown in some high-profile activities like stock and bond trading.
__________________ "Being the best doesn't mean you always win. It just means you win more than anyone else".. tweet from Kurt Warner to Tom Brady.
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I've written this many times on this board, but I'm going to say it again...
It is time to banish public corporations and Wall Street from the American landscape. The only thing it provides for is a vehicle to transfer wealth to the wealthy.
Re: Depression/Recession times are good on Wall Street...
Quote:
Originally Posted by PatriotsReign
I've written this many times on this board, but I'm going to say it again...
It is time to banish public corporations and Wall Street from the American landscape. The only thing it provides for is a vehicle to transfer wealth to the wealthy.
It's become a cancer to this nation.
Sounds like socialism to this casual viewer...
__________________ "Being the best doesn't mean you always win. It just means you win more than anyone else".. tweet from Kurt Warner to Tom Brady.
Re: Depression/Recession times are good on Wall Street...
Prepare yourselves for the massive sell off that is coming as December 31st approaches, and the tax cuts are set to expire.
How are those bailouts working for the average joe right now? We pay trillions, and corps and banks make zillions. This is what started the Tea Party movement, and made it into what it is now.
__________________
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"The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of doubt, what is laid before him." Leo Tolstoy, 1897
Re: Depression/Recession times are good on Wall Street...
Quote:
Originally Posted by chicowalker
I thought you were a free market guy, PR.
Where will people on invest under your scenario, or will they just horde cash?
Investing and Wall Street has become a place where only those who understand micro-second trading and super-computer assisted analysis can prosper.
Free market doesn't mean "anything goes" and I support protection for the average American more than I do protection of "they system" or corporations.
If you look historically at Wall Street, we see the Dow going from 1,000 in the late 80's to 14,000 in 2007. A 1,400% increase! But what has happened to the middle class during the same period? We have less assets and less disposeable income as a percent of our earnings.
I really do believe Wall Street has been the channel from which wealth has transfered from those with less to those with more.
How is that a benefit to our society?
Either we get rid of Wall Street or transform it dramatically...in my opinion.
Re: Depression/Recession times are good on Wall Street...
PR, I wasn't implying that you should think anything goes, or that that should be the case, just that banning public companies seems to go squarely against the smaller govt approach you usually seem to adopt.
Re: Depression/Recession times are good on Wall Street...
Quote:
Originally Posted by chicowalker
PR, I wasn't implying that you should think anything goes, or that that should be the case, just that banning public companies seems to go squarely against the smaller govt approach you usually seem to adopt.
I'm really confused by the statement... how does dissolving GSEs go against smaller govt?
Depression/Recession times are good on Wall Street...
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