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Despite Greed Wall Street will give out Billions in Bonus Money.. WTF

Discussion in 'Political Discussion' started by DarrylS, Oct 28, 2008.

  1. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Saw this on the news last night, made me want to break the TV.. the wall street gluttons will continue feeding from the never ending teat of greed.. the bonuses will continue, despite most folks loosing big bucks... this is an non partisan issue and deserves much attention..

    How Washington's Bailout Will Boost Wall Street Bonuses - TIME

    Bloomberg.com: Exclusive

  2. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Without getting into specific numbers, companies still need to retain their best employees and while those numbers look high to you and me they are still down 40% from last year.
  3. mcgraw_wv

    mcgraw_wv Rookie

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    You mean down 40% from last years RECORD BREAKING bonuses? Should they really be compared to the largest bonus payout for financial businesses in history? What's the percentage drop for the average bonus over the last 10 years?
  4. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Like I said, I'm not going to get into the Politics of Envy by geting into specific numbers; although when Average Joe complains his 401K is down by 40% or so, that is also from a record high not an average of the last 10 years so I'm not sure what the difference is.

    Anyway - hate away, it's all good.
  5. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    So despite their practices that have contributed heavily to this economic situation, it is ok to do this?? .. the number of people out of work and loosing money is astronomical, all they while it is ok to do this??? Their greed and speculation are the major causes of this.
  6. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    Make whatever macro moral assumptions that you want to - at the company level they still need to retain their best employees and this is how they do it. They could punish them and not give out bonuses - and watch they all be hired by other companies.
  7. mcgraw_wv

    mcgraw_wv Rookie

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    I'm not hating their ability to make money. I am furious that they are still getting million dollar bonuses at the expense of the tax payers.

    In this economy, espeically on Wall Street, if you did not pay your best employee a million dollars, do they have many options for employement where they will get a million dollar bonus.

    It's BS and you know it... Supply and demand, there is no demand for financial brokers, and bankers right now, yet they still get the salary as if demand was high, AT THE EXPENSE of the tax payer.

    As far as I am concerned, the US is a major stock holder in these banks and we should have a say on bonuses... A bonus is not a right, it is bonus, and in times where a company loses all that money, a bonus should not be paid out. If they were a private company I have no problems, but they are public, and that means that stock holders, and people with large accounts at these firms have a higher chance of not seeing a return of their money due to these companies paying out so much money in bonuses...

    And now that they recieved this kind of bail out, bonuses should be off limits.
  8. PatriotsReign

    PatriotsReign On the Roster

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    Up, down...who gives a shee-ite BF. NO ONE has done a good job since they're all on the verge of collapse and no one should get a bonus for doing a crappy job.

    Now word has it the banks are hoarding the $$ that WE lent them to engage in mergers and acquistions. "IF" that happens, all hell is gonna break loose my friend. We lent them that money so they would L-E-N-D. But they're not lending.

    When we lend them money for a particular reason, they are to use it for that reason. They WILL do what we told them to do.

    Screw all those greedy defiant fools.
    Last edited: Oct 28, 2008
  9. mcgraw_wv

    mcgraw_wv Rookie

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    I am willing to bet that there is a over supply of banking professionals and brokers in NY right now... I don't see the demand for such compensation.

    Supply and Demand only applies when its the low man that is getting squeezed with Gas prices and salary... the Rich don't play by the same set of rules.
  10. BelichickFan

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    #24 Jersey

    When the Patriots got punked by the Dolphins and the the Chargers did every single player play like crap ? I'm guessing not and you know better.
  11. PatriotsReign

    PatriotsReign On the Roster

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    In my company....and like most companies, you don't get a bonus UNLESS the entire company hits quota. So even though I may do a great job, there's no bonus for me if we don't perform as a company.

    And...that's the way it SHOULD be BF...you should know better too!
  12. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Andrew Cuomo wants some answers as to why..

    Cuomo Seeks Information About Bonuses From Banks - WSJ.com

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