Wall street ontrack to reward record pay

[Acanthus]

The rebound in the stock market has lead to some insane gains at investment banks. I would imagine that the bonuses are tied to the enormous rebound.

Look at the S&P500 over the last fiscal year.

 

[spidey07]

Originally posted by: Acanthus
The rebound in the stock market has lead to some insane gains at investment banks. I would imagine that the bonuses are tied to the enormous rebound.

Look at the S&P500 over the last fiscal year.

Exactly! A good fund manager could be seeing 40% right now. If he made the banks customers billions (and in turn the bank as well) he deserves a fat ass bonus of millions of dollars.

I alwasy find these jealousy threads so funny. The amount of effort people put into bitching could be used to get an education in these evil fields and make a lot of money. Nah, that would make too much sense. Bitching is easier and more self defeating.

 

[miketheidiot]

Originally posted by: spidey07
They made the banks money. They deserve a cut of the revenue they brought in. Stop the jealousy and think logically.

as if logical thinking was something you were disposed to.


As a shareholder of several of these companies, this shit is ridiculous.

 

[TheSkinsFan]

Originally posted by: Special K

Originally posted by: TheSkinsFan

Originally posted by: LTC8K6
I thought TARP made the banks money...

Without the bailout, what sort of money did they make?

The only obligation that TARP banks have to the Government is to pay the TARP money back according to the terms and conditions agreed to by both parties. Any money or profit they make that is above and beyond those agreed upon terms is theirs to do with as they please.

While you can certainly pay extra for your mortgage every month, and doing so may even help you out in the long-term with your loan, it's not a requirement that you pay all that you can each month -- as with the TARP banks and the Government, you are only obligated to make payments in accordance with the agreed upon terms of the loan.

It's great to hear that banks are making profits again, and that their employees are once again being compensated fairly -- standard market-driven wages and bonuses -- for their efforts.

Was the goal of the bailouts to change the way they compensate their employees forever? If that's what you're holding your breath waiting for, you're going to be extremely let down forever. Banking is a global industry wherein the salaries and bonuses of those involved is fairly standard everywhere in the world. If the U.S. government ever attempted to change the compensation standards for U.S. banks, permanently, they would very quickly lose their competitive edge on the world stage due to an almost instantaneous brain drain. In order for U.S. banks to continue to compete in the global economy, they will need to maintain the same compensation practices of every other bank, in every other country, in the world.

Jealousy is such an ugly character trait.

You have a point, but without any new regulations or incentives to reward long-term performance instead of short-term risk taking, I have a feeling we will be back in this situation in several years, just replace "housing" with whatever new asset forms the basis of the next boom/bust cycle. Now that the banks know they are too big to fail and can hold the world economy hostage in exchange for bailout money to cover their bad bets, it seems even more likely they will continue to take large risks in the future.

Perhaps, but are the banks to blame for the lack of new regulations, or does that blame rightfully fall upon those who instead chose to simply throw money at the problem, and then call it a day?

Banks work within the limits of our laws -- or right up to their edge. If said laws are flawed, too ambiguous, or lacking all together, then it's not the job of the banks to fix that problem -- that responsibility falls squarely on the Federal Government. Unfortunately, the Government appears to have forgotten how to write and impose simple regulations. They've decided to "fix" everything with our checkbooks instead. It's a disease that has no cure in sight.

 

[miketheidiot]

Originally posted by: spidey07

Originally posted by: Acanthus
The rebound in the stock market has lead to some insane gains at investment banks. I would imagine that the bonuses are tied to the enormous rebound.

Look at the S&P500 over the last fiscal year.

Exactly! A good fund manager could be seeing 40% right now. If he made the banks customers billions (and in turn the bank as well) he deserves a fat ass bonus.

I alwasy find these jealousy threads so funny. The amount of effort people put into bitching could be used to get an education in these evil fields and make a lot of money. Nah, that would make too much sense. Bitching is easier and more self defeating.

everything went up 40%, no fund manager deserves anything, especially if last year they wiped out their clients.

lets look at it this way, over the last 2.5 years, the average fund is down something like 30%, why should anyone be compensated for that?

 

[LTC8K6]

Originally posted by: TheSkinsFan

Originally posted by: LTC8K6
I thought TARP made the banks money...

Without the bailout, what sort of money did they make?

The only obligation that TARP banks have to the Government is to pay the TARP money back according to the terms and conditions agreed to by both parties. Any money or profit they make that is above and beyond those agreed upon terms is theirs to do with as they please.

While you can certainly pay extra for your mortgage every month, and doing so may even help you out in the long-term with your loan, it's not a requirement that you pay all that you can each month -- as with the TARP banks and the Government, you are only obligated to make payments in accordance with the agreed upon terms of the loan.

It's great to hear that banks are making profits again, and that their employees are once again being compensated fairly -- standard market-driven wages and bonuses -- for their efforts.

Was the goal of the bailouts to change the way they compensate their employees forever? If that's what you're holding your breath waiting for, you're going to be extremely let down forever. Banking is a global industry wherein the salaries and bonuses of those involved is fairly standard everywhere in the world. If the U.S. government ever attempted to change the compensation standards for U.S. banks, permanently, they would very quickly lose their competitive edge on the world stage due to an almost instantaneous brain drain. In order for U.S. banks to continue to compete in the global economy, they will need to maintain the same compensation practices of every other bank, in every other country, in the world.

Jealousy is such an ugly character trait.

Okay, but what would their profits be sans TARP?

 

[TheSkinsFan]

Originally posted by: miketheidiot
As a shareholder of several of these companies, this shit is ridiculous.

Are you basing that assessment on their actual performance, or lack thereof, in the last two quarters?

If so, can you please provide some examples of those companies that may not being doing well enough to justify such bonuses?

 

[Ausm]

Originally posted by: TheSkinsFan

Originally posted by: Ausm
The worst part of it is the resistance of Washington to incorporate any meaningful change because those assholes are right back doing the same reckless practices. :roll:

Are you claiming that their wages and bonuses were the cause of the economic recession?

Banking is supposed to be a very lucrative business... when that business is doing well, or improving at a steady pace, are you suggesting that it shouldn't be?

All I see here is the fact that their compensation packages are returning to normal -- by global standards -- not that they've done anything "reckless." Do you have any evidence to the contrary? If so, please share!

Dude you really really need to enroll in a reading comprehension class.

ASAP

 

[Ausm]

Originally posted by: LegendKiller

Originally posted by: Ausm

Originally posted by: LegendKiller

Originally posted by: Ausm

Originally posted by: spidey07
They made the banks money. They deserve a cut of the revenue they brought in. Stop the jealousy and think logically.

Think logically??? When it was those assholes that almost brought down the western world with unparalleled greed? They screwed the tax payer out of billions on top of it without the courtesy of a reach around. The worst part of it is the resistance of Washington to incorporate any meaningful change because those assholes are right back doing the same reckless practices. :roll:

Yeah, none of this had to do with the borrowers. I forgot, the banks forced the borrowers to sign all sorts of loan docs.

I am not insinuating that the banks are the only people who got us in this mess but if you made a mistake at your job that cost people BILLIONS of dollars would you get a bonus let alone even have a fucking job?

I doubt it.

You're assuming the people who f'd up are still around. Most aren't.

Um I beg to differ on that point...

 

[miketheidiot]

Originally posted by: LTC8K6

Originally posted by: TheSkinsFan

Originally posted by: LTC8K6
I thought TARP made the banks money...

Without the bailout, what sort of money did they make?

The only obligation that TARP banks have to the Government is to pay the TARP money back according to the terms and conditions agreed to by both parties. Any money or profit they make that is above and beyond those agreed upon terms is theirs to do with as they please.

While you can certainly pay extra for your mortgage every month, and doing so may even help you out in the long-term with your loan, it's not a requirement that you pay all that you can each month -- as with the TARP banks and the Government, you are only obligated to make payments in accordance with the agreed upon terms of the loan.

It's great to hear that banks are making profits again, and that their employees are once again being compensated fairly -- standard market-driven wages and bonuses -- for their efforts.

Was the goal of the bailouts to change the way they compensate their employees forever? If that's what you're holding your breath waiting for, you're going to be extremely let down forever. Banking is a global industry wherein the salaries and bonuses of those involved is fairly standard everywhere in the world. If the U.S. government ever attempted to change the compensation standards for U.S. banks, permanently, they would very quickly lose their competitive edge on the world stage due to an almost instantaneous brain drain. In order for U.S. banks to continue to compete in the global economy, they will need to maintain the same compensation practices of every other bank, in every other country, in the world.

Jealousy is such an ugly character trait.

Okay, but what would their profits be sans TARP?

none, many or most of these companies would have gone bankrupt and there would be no recovery atm.

 

[spidey07]

Originally posted by: miketheidiot

everything went up 40%, no fund manager deserves anything, especially if last year they wiped out their clients.

lets look at it this way, over the last 2.5 years, the average fund is down something like 30%, why should anyone be compensated for that?

Why are you so jealous? How about the folks that beat the average or didn't have huge losses? You know, the top performers? Are you a top performer in your field? If you are, don't you want to be compensated accordingly?

-edit-
And if you are a top performer and you're not getting compensated properly you WILL go someplace that does.

 

[Special K]

Originally posted by: TheSkinsFan

Originally posted by: Special K

Originally posted by: TheSkinsFan

Originally posted by: LTC8K6
I thought TARP made the banks money...

Without the bailout, what sort of money did they make?

The only obligation that TARP banks have to the Government is to pay the TARP money back according to the terms and conditions agreed to by both parties. Any money or profit they make that is above and beyond those agreed upon terms is theirs to do with as they please.

While you can certainly pay extra for your mortgage every month, and doing so may even help you out in the long-term with your loan, it's not a requirement that you pay all that you can each month -- as with the TARP banks and the Government, you are only obligated to make payments in accordance with the agreed upon terms of the loan.

It's great to hear that banks are making profits again, and that their employees are once again being compensated fairly -- standard market-driven wages and bonuses -- for their efforts.

Was the goal of the bailouts to change the way they compensate their employees forever? If that's what you're holding your breath waiting for, you're going to be extremely let down forever. Banking is a global industry wherein the salaries and bonuses of those involved is fairly standard everywhere in the world. If the U.S. government ever attempted to change the compensation standards for U.S. banks, permanently, they would very quickly lose their competitive edge on the world stage due to an almost instantaneous brain drain. In order for U.S. banks to continue to compete in the global economy, they will need to maintain the same compensation practices of every other bank, in every other country, in the world.

Jealousy is such an ugly character trait.

You have a point, but without any new regulations or incentives to reward long-term performance instead of short-term risk taking, I have a feeling we will be back in this situation in several years, just replace "housing" with whatever new asset forms the basis of the next boom/bust cycle. Now that the banks know they are too big to fail and can hold the world economy hostage in exchange for bailout money to cover their bad bets, it seems even more likely they will continue to take large risks in the future.

Perhaps, but are the banks to blame for the lack of new regulations, or does that blame rightfully fall upon those who instead chose to simply throw money at the problem, and then call it a day?

Banks work within the limits of our laws -- or right up to their edge. If said laws are flawed, too ambiguous, or lacking all together, then it's not the job of the banks to fix that problem -- that responsibility falls squarely on the Federal Government. Unfortunately, the Government appears to have forgotten how to write and impose simple regulations. They've decided to "fix" everything with our checkbooks instead. It's a disease that has no cure in sight.

Good point. I haven't seen any legislation proposed that would do anything to prevent such a problem from occurring again in the future. With all of the consolidation that has occurred in the banking industry since Bear Stearns collapsed, it seems the remaining institutions are even bigger than they were before, making them even more "too big to fail".

 

[miketheidiot]

Originally posted by: TheSkinsFan

Originally posted by: miketheidiot
As a shareholder of several of these companies, this shit is ridiculous.

Are you basing that assessment on their actual performance, or lack thereof, in the last two quarters?

If so, can you please provide some examples of those companies that may not being doing well enough to justify such bonuses?

because i'm a stockholder and i don't approve of their pay? The fact that none of these people are essential, and don't deserve this sort of compensation? The fact that these cunts almost wiped my equity?

I'm a stockholder, thats all the justification i need. They aren't entitled to anything.

 

[miketheidiot]

Originally posted by: spidey07

Originally posted by: miketheidiot

everything went up 40%, no fund manager deserves anything, especially if last year they wiped out their clients.

lets look at it this way, over the last 2.5 years, the average fund is down something like 30%, why should anyone be compensated for that?

Why are you so jealous? How about the folks that beat the average or didn't have huge losses? You know, the top performers? Are you a top performer in your field? If you are, don't you want to be compensated accordingly?

who said anything about top performers? that's not what the article is about, even aig which is still on government life support is giving retarded bonuses. Incomes are high in fiance and banking because of cronyism, not because people are actually worth the money.

In the end, even the top performers performed like shit the last 2-3 years.

 

[TheSkinsFan]

Originally posted by: LTC8K6

Originally posted by: TheSkinsFan

Originally posted by: LTC8K6
I thought TARP made the banks money...

Without the bailout, what sort of money did they make?

The only obligation that TARP banks have to the Government is to pay the TARP money back according to the terms and conditions agreed to by both parties. Any money or profit they make that is above and beyond those agreed upon terms is theirs to do with as they please.

While you can certainly pay extra for your mortgage every month, and doing so may even help you out in the long-term with your loan, it's not a requirement that you pay all that you can each month -- as with the TARP banks and the Government, you are only obligated to make payments in accordance with the agreed upon terms of the loan.

It's great to hear that banks are making profits again, and that their employees are once again being compensated fairly -- standard market-driven wages and bonuses -- for their efforts.

Was the goal of the bailouts to change the way they compensate their employees forever? If that's what you're holding your breath waiting for, you're going to be extremely let down forever. Banking is a global industry wherein the salaries and bonuses of those involved is fairly standard everywhere in the world. If the U.S. government ever attempted to change the compensation standards for U.S. banks, permanently, they would very quickly lose their competitive edge on the world stage due to an almost instantaneous brain drain. In order for U.S. banks to continue to compete in the global economy, they will need to maintain the same compensation practices of every other bank, in every other country, in the world.

Jealousy is such an ugly character trait.

Okay, but what would their profits be sans TARP?

Zero? I really don't know... do you?

The point is, if they are paying back TARP according to the agreed upon terms, and they are not breaking any other laws or conducting any unethical business, then they are doing nothing wrong.

It's like a prisoner serving a legally determined sentence. Would you expect someone to volunteer an extra five years in jail because they feel their sentence was too light?

Is it morally right or wrong for them to make a profit on the backs of the loans? Is that the real question here?

I would answer that a business' primary function is to turn a profit for itself and it's shareholders. Therefore, it is the moral duty of the CEO and others at the business to ensure that happens -- within the law and ethically, of course. If/when it happens, I would call it a success -- not something to be ashamed of, or derided for, regardless of the Fed's involvement. Hell, to be able to do so in spite of the Federal Government's involvement is even more impressive!

Are globally standard wages and other forms of compensation somehow unethical now?

 

[IceBergSLiM]

Originally posted by: Ausm

Originally posted by: IcebergSlim
this is regulation, reform and change we can believe in.

I think when President Obama was running for president he didn't realize that Wall Street,Big Corporations, and Special interest groups are "one" with Washington.

Of course he did. He personally appointed half of them to his cabinet.

 

[LTC8K6]

So the reward is for getting bailed out of a disaster you created and then making profits with the low interest bailout loan money?

 

[IceBergSLiM]

Originally posted by: GuitarDaddy

Originally posted by: IcebergSlim
this is regulation, reform and change we can believe in.

Yeah, Yeah Obama eats babies, and produces H1N1 in a large KFC bucket in his secrect liar while eating watermelon and listening to old Hitler tapes:disgust: move along please

I voted for him

 

[ElFenix]

Originally posted by: LegendKiller

Yeah, none of this had to do with the borrowers. I forgot, the banks forced the borrowers to sign all sorts of loan docs.

the borrowers had nothing to do with the CDS that amplified the issue.

 

[TheSkinsFan]

Originally posted by: Ausm

Originally posted by: TheSkinsFan

Originally posted by: Ausm
The worst part of it is the resistance of Washington to incorporate any meaningful change because those assholes are right back doing the same reckless practices. :roll:

Are you claiming that their wages and bonuses were the cause of the economic recession?

Banking is supposed to be a very lucrative business... when that business is doing well, or improving at a steady pace, are you suggesting that it shouldn't be?

All I see here is the fact that their compensation packages are returning to normal -- by global standards -- not that they've done anything "reckless." Do you have any evidence to the contrary? If so, please share!

Dude you really really need to enroll in a reading comprehension class.

ASAP

Actually, it's you who needs to do so. Exactly what "reckless practices" are you accusing them of?

If their bonuses are the only "reckless practices" you are referring to, then you're going to be severely let down to learn that those will never change in the banking industry when said banks are doing well or turning a profit.

I will also tell you that said bonuses and other forms of compensation are NOT what brought the economy to its knees. But, you knew that already though, didn't you?

Are you accusing them of any real or economically dangerous "reckless practices"? if so, what are they?

 

[ElFenix]

Originally posted by: spidey07

-edit-
And if you are a top performer and you're not getting compensated properly you WILL go someplace that does.

where? in what other industry are these guys getting $$$$$$$$$?

 

[LTC8K6]

http://www.bloomberg.com/apps/...01087&sid=abo3Zo0ifzJg

This is the same old story. Nothing has changed except the risk of TARP funds. Funds we may never see again.

 

[Ausm]

Originally posted by: TheSkinsFan

Originally posted by: Ausm

Originally posted by: TheSkinsFan

Originally posted by: Ausm
The worst part of it is the resistance of Washington to incorporate any meaningful change because those assholes are right back doing the same reckless practices. :roll:

Are you claiming that their wages and bonuses were the cause of the economic recession?

Banking is supposed to be a very lucrative business... when that business is doing well, or improving at a steady pace, are you suggesting that it shouldn't be?

All I see here is the fact that their compensation packages are returning to normal -- by global standards -- not that they've done anything "reckless." Do you have any evidence to the contrary? If so, please share!

Dude you really really need to enroll in a reading comprehension class.

ASAP

Actually, it's you who needs to do so. Exactly what "reckless practices" are you accusing them of?

The their bonuses are the only "reckless practices" you are referring to, then you're going to be severely let down to learn that those will never change in the banking industry when said banks are doing well or turning a profit.

I will also tell you that said bonuses and other forms of compensation are NOT what brought the economy to its knees. But, you knew that already though, didn't you?

Are you accusing them of any real or economically dangerous "reckless practices"? if so, what are they?

Well if you don't consider the unregulated trade of exotic derivatives reckless then I guess I should bow down to your vast knowledge of the US banking system.

oh I never fucking said ANYTHING about the bonuses bringing the economy to it's knees...that was your little fucking rightwing pee brain twisting my words like usual.

 

[Blackjack200]

Originally posted by: IcebergSlim

Originally posted by: GuitarDaddy

Originally posted by: IcebergSlim
this is regulation, reform and change we can believe in.

Yeah, Yeah Obama eats babies, and produces H1N1 in a large KFC bucket in his secrect liar while eating watermelon and listening to old Hitler tapes:disgust: move along please

I voted for him

Why?

 

[TheSkinsFan]

Originally posted by: miketheidiot

Originally posted by: TheSkinsFan

Originally posted by: miketheidiot
As a shareholder of several of these companies, this shit is ridiculous.

Are you basing that assessment on their actual performance, or lack thereof, in the last two quarters?

If so, can you please provide some examples of those companies that may not being doing well enough to justify such bonuses?

because i'm a stockholder and i don't approve of their pay? The fact that none of these people are essential, and don't deserve this sort of compensation? The fact that these cunts almost wiped my equity?

I'm a stockholder, thats all the justification i need. They aren't entitled to anything.

Question marks are most often used to denote an interrogative; or, more specifically, a question. Please go back through my post and find the question marks. In front of each of them, you will find a sentence that is a question.

Try answering those instead of whatever the hell you just wrote.

Then, when you're finished, try to answer these:

Stockholders very rarely, if ever, get to approve of individual employees' compensation packages. What did you use to determine that none of "these people" are essential?

Are you able to name those who received bonuses at the companies where you own stock? Do you even know their assigned divisions or job titles? Are you then able to draw a line between those "cunts" and the ones who were responsible for your losses last year? Are they one and the same?

Who is "they," and why are "they" not "entitled to anything"?