Bad, if not unexpected news

Wall Street bonuses to be slashed at least 50%, 170,000 jobs lost.

2 Comments

Filed under Right wing nut rantings

2 responses to “Bad, if not unexpected news

  1. CEA

    Yes, but earnings are down 100%+ (the banks are LOSING money). So, if earnings are -100%, but you’re only down 50% – personally, I think the banks are really giving their shareholders short shrift…. bonuses should be down even more. That bonus payout number is still $19 billion (I believe it was $39 billion in 2007).

  2. Riverside Dog Walker

    Investment banks have always been run more for the benefit of their management and employees, than for the shareholders. Yes, I know that much executive comp is in options and restricted stock grants, but it is still a small percentage of ownership of the overall market value of the firm.

    It was pointed out a few weeks ago that Morgan Stanley employees could take the amount budgeted for their bonuses this year and buy the entire firm at the then current stock valuation.