Comments on: Wall Street Compensation to Fall $18 Billion in 2008 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html Sat, 21 Nov 2009 23:35:30 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Anonymous http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12035 Anonymous Sun, 27 Jul 2008 07:57:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12035 stop it, yer making me puddle stop it, yer making me puddle

]]> By: ndk http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12028 ndk Sun, 27 Jul 2008 04:35:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12028 The decrease in their compensation is greater than the total budget of my entire great State of Colorado.<br/><br/>We got beautiful cliffs here for people like them. The decrease in their compensation is greater than the total budget of my entire great State of Colorado.

We got beautiful cliffs here for people like them.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12027 Anonymous Sun, 27 Jul 2008 01:16:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12027 Reply to Anon of 10:37<br/><br/>These "best and brightest and hardest working" are in fact the cause of these current woes. If they're so bright, hard working and good, then no need to worry as they'll have saved and stashed enough (by getting out in time before the markets fell) to ride out these tough times satisfactorily.<br/><br/>As to them "finding other ways to make money which may make the city even more interesting" - I doubt it for the reasons provided above. Also they really didnt succeed in achieving that in 90/91 or the lesser recessions since!! Reply to Anon of 10:37

These “best and brightest and hardest working” are in fact the cause of these current woes. If they’re so bright, hard working and good, then no need to worry as they’ll have saved and stashed enough (by getting out in time before the markets fell) to ride out these tough times satisfactorily.

As to them “finding other ways to make money which may make the city even more interesting” – I doubt it for the reasons provided above. Also they really didnt succeed in achieving that in 90/91 or the lesser recessions since!!

]]> By: Max http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12025 Max Sat, 26 Jul 2008 23:42:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12025 Help Wanted: a violin player with the world's most smallest violin. Help Wanted: a violin player with the world’s most smallest violin.

]]> By: Anonymous http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12021 Anonymous Sat, 26 Jul 2008 19:05:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12021 The unholy alliance between Washington and Wall street has resulted in our economic sovereignty being imperiled. If our economic sovereignty is under threat, so is our national security.<br/><br/>The people responsible for this debacle whether through incompetence, greed, collusion, or corruption and traitors and should be treated as any other enemy of the state. Frozen bank accounts, pursuit, prosecution and imprisonment. The unholy alliance between Washington and Wall street has resulted in our economic sovereignty being imperiled. If our economic sovereignty is under threat, so is our national security.

The people responsible for this debacle whether through incompetence, greed, collusion, or corruption and traitors and should be treated as any other enemy of the state. Frozen bank accounts, pursuit, prosecution and imprisonment.

]]> By: cindy http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12018 cindy Sat, 26 Jul 2008 17:49:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12018 "donna said... "<br/><br/>"Lose their bonuses? Hell, we ought to make them pay back the ones they stole creating this fiasco."<br/><br/>No kidding.. I keep hoping for some plan to go back recoup most of what they stole.. If I saw this coming 2 years ago they certainly did in Nov 2007.. The whole thing is criminal.. <br/><br/>Cin “donna said… “

“Lose their bonuses? Hell, we ought to make them pay back the ones they stole creating this fiasco.”

No kidding.. I keep hoping for some plan to go back recoup most of what they stole.. If I saw this coming 2 years ago they certainly did in Nov 2007.. The whole thing is criminal..

Cin

]]> By: etc http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12016 etc Sat, 26 Jul 2008 16:59:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12016 "Actually in the US Wall Street has become a place for the best and brightest and hardest working. Rather then a place for those correctly born and educated. So they will find another way to make money which may make the city even more interesting."<br/><br/>Not likely, not that anyone deserves to make over $1mm, $1B, or whatever.<br/><br/>For example, in Texas in the late 80's and early 90's, many bankers, lawyers, and accountants were laid off with quality experience and credentials. Some downsized to lower-paying firms or smaller markets; some left the biz. Most had their balance sheets the life-time earnings shrunk.<br/><br/>In the early 2000's in northern california, the same thing happened to many bankers, lawyers, and accountants doing tech deals.<br/><br/>It's not the end of the world though. In time, most people adjust to things like this by revising their self-image and priorities. Some do make comebacks in other sectors or industries. But most do not. “Actually in the US Wall Street has become a place for the best and brightest and hardest working. Rather then a place for those correctly born and educated. So they will find another way to make money which may make the city even more interesting.”

Not likely, not that anyone deserves to make over $1mm, $1B, or whatever.

For example, in Texas in the late 80’s and early 90’s, many bankers, lawyers, and accountants were laid off with quality experience and credentials. Some downsized to lower-paying firms or smaller markets; some left the biz. Most had their balance sheets the life-time earnings shrunk.

In the early 2000’s in northern california, the same thing happened to many bankers, lawyers, and accountants doing tech deals.

It’s not the end of the world though. In time, most people adjust to things like this by revising their self-image and priorities. Some do make comebacks in other sectors or industries. But most do not.

]]> By: donna http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12015 donna Sat, 26 Jul 2008 15:23:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12015 Lose their bonuses? Hell, we ought to make them pay back the ones they stole creating this fiasco. Lose their bonuses? Hell, we ought to make them pay back the ones they stole creating this fiasco.

]]> By: Jojo http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12009 Jojo Sat, 26 Jul 2008 07:10:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12009 Could be more. We still have the rest of the year to go! IF, as some predict, the DJI crashes through 10k, bonuses might be completely eliminated. So sorry. {lol} Could be more. We still have the rest of the year to go! IF, as some predict, the DJI crashes through 10k, bonuses might be completely eliminated. So sorry. {lol}

]]> By: Anonymous http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18.html#comment-12005 Anonymous Sat, 26 Jul 2008 06:09:00 +0000 http://www.nakedcapitalism.com/2008/07/wall-street-compensation-to-fall-18-billion-in-2008/#comment-12005 Problem is that finance has become such a big part of the economy that when it goes down, it does a lot of collateral damage. <br/><br/>I'd personally like to see these guys washing dishes, but that means the guys who wash dishes will wind up homeless. Problem is that finance has become such a big part of the economy that when it goes down, it does a lot of collateral damage.

I’d personally like to see these guys washing dishes, but that means the guys who wash dishes will wind up homeless.

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