The average managing director at an investment bank, a title typically earned after eight years on the job, will receive a bonus of $625,000. That's down from nearly $1.1 million last year.
Even a bond trader just out of business school could see his or her bank account enriched by as much as $170,000 this Christmas. "The firms have had an extremely difficult year," says Joan Zimmerman, a Wall Street career coach. "But they can't afford to lose talent either."
Yeah, the 700 billion dollar bailout just wasn't enough, these poor guys and gals will suffer if we don't do something. Maybe we can skip lunches and send them more. Come on $625,000 for a bonus, just too painfully low, they may have to give something up like maybe a golden faucet or a European trip.
Let's all get together and try to send them more, we can do without lunches for a while and we can give up on buying a winter coat this year. We could forgo doing Christmas this year and tell the kiddies that Santa had to make the bonuses bigger for the poor, poor Wall Street people.
Oh, I almost forgot, many of us are already doing that. Many are "robbing peter to pay Paul". We are counting pennies not THOUSAND dollar bills.
This is Robin Hood in reverse, rob from the poor and middle class and give to the fat cats.
But you don't care, Right?
So here I am "STUCK IN THE MIDDLE WITH YOU".
Friday, October 31, 2008
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