Bankers Expect Rising Bonus Pay to Break Records in Global Poll

[Roland99]

Source: Bloomberg

Oct. 30 (Bloomberg) -- In Washington and on Main Street, politicians and voters are railing against Wall Street’s multi- million-dollar pay packages. In the financial world, most executives expect their bonuses to match or exceed last year’s, with 1 in 10 predicting their best-ever payout.

Having shaken off the biggest economic decline since the 1930s, almost three in five traders, analysts and fund managers believe their 2009 bonuses will either increase or won’t change, according to a quarterly poll of Bloomberg customers. Only one in four see a decline. Asians are the most optimistic about pay and Americans and Europeans somewhat less so.

...

Worldwide, a majority of market professionals in the survey also turn thumbs down on government attempts to limit compensation, with 51 percent saying restrictions will stifle useful innovation. Only about 38 percent think pay limits will control excessive risk-taking.

In the U.S., where President Barack Obama has chided Wall Street for being “motivated only by the appetite for quick kills and bloated bonuses,” 65 percent say the restrictions will damp innovation.

Read more: http://www.bloomberg.com/apps/news?pid=20601087&sid=a1ZlLqcUMvZg

[ixion]

1. ...

:argh:

[54anickel]

2. Cripes almighty! I think we've had more than enough "innovation" in the

markets of High Finance as it is.

Stifle useful innovation, indeed! That ain't all that needs to be stifled...

[Downwinder]

3. About time to butcher the fattened calf. n/t

[MannyGoldstein]

4. You Did It, America!!!

Congratulations!!!

You bailed out the world's best and brightest, and now they're back to getting what they deserve - thanks to $13 trillion in taxpayer loan guarantees and hundreds of billion in other gifts!

Thank you America!!!

Now, go pay your 25% interest credit card bills, assholes, our time is valuable.

Best,

Hank, Larry & Timmy

P.S.: All your pension are belong to us.

[PJPhreak]

8. I see a Bumper Sticker...

"Wall St says:
All your pensions are belong to us".

[scentopine]

5. With Stimulus Package in Hand, Wall Street Now Trickles On Us -nt

[Wounded Bear]

6. Don't limit their pay...increase their taxes....a lot....

a really, really fucking BIG lot.

Roll back the Bush tax cuts. Then roll back the Reagan tax cuts.

[ozone_man]

7. Obama's largest corporate contributor was ....

Goldman Sachs.

[Vidar]

12. What a surprise!

[WriteDown]

9. More Asian change. nt

[notesdev]

10. Those guys are pretty smart about money

they fixed themselves up good, didn't they, getting Treasury to open up the money spigot. What entreprenurial spirit!

[Roland99]

13. They were somehow all in a dream I had last night, too.

I was yelling at someone...oh it's coming to me....hang on.....

Y'all are gonna love this!!


So I'm on this reviewing platform and Obama's there and Hillary and some major news reporter and a Senator or something and before them on a stage are those responsible: Geithner, Paulson, Bernanke and a couple others. There was a huge audience all around and behind us on that platform...kinda like the scene at the Arch in St. Louis for Obama.

I keep waiting for *my* turn to ask a question but I couldn't get mine in. I felt the "show" was about to end so before the reporter guy got to ask another question I jumped up, grabbed a microphone and yelled, "Mr. Geithner! I have a question just for you!" I was excusing myself for interrupting Mr. Reporter and Hillary started to interrupt me and say it wasn't my turn and I told her to shut up, that her husband was part of the problem, too! (He did sign the repeal of Glass-Steagall after all)

Anyway...I ask Mr. Geithner something like, "Soooo...you gave all investment firms hundreds of billions of dollars with no guarantee of getting it back, much less with any interest, and these firms then cleaned up their balance and even proceeded to buy up some assets on the cheap (with *our* tax dollars...or, rather, our grandkids' tax dollars!) and now these firms are paying out tens of billions in more bonuses and we, the American taxpayers, haven't seen anything in return for our money; we haven't seen any new regulations; we haven't seen anyone put in handcuffs (other than the scam artists who got caught as red-handed as possible and used, imo, as a distraction from the real problem); we haven't seen any CHANGE, Mr. Obama.

When do the American people get their chance at justice? When do the American people get a chance to stop being treated like pawns to the multi-trillionaire Wall St? When will Goldman Sachs be taken down and all the other too big to fail firms broken up and sold off piecemeal to regional banks? When will the madness end????

and I remember yelling out, "You did this all on purpose! You did this all on purpose! You did this all on purpose!" and that's about when the dream faded away.



I think I should kick back and relax this weekend. Weather's still very warm...perhaps the beach tomorrow... ;-)

[Demeter]

14. A Dream Is a Good Start

now, to build a reality to fit it....

[dixiegrrrrl]

11. You know what they say....

[samsingh]

15. must be nice