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Radical bailout plan has a jawdropping price tag
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[QUOTE]Originally posted by glassman: [QB] note the date: :b: [b] Wall Street bonuses could slide in 2008: report Tue May 13, 2008 5:10pm EDT By Steven Bertoni NEW YORK (Reuters) - Wall Street executives could be diving into a shallow bonus pool in 2008, according to a report from Johnson Associates compensation consultants.[/b] http://www.reuters.com/article/ousiv/idUSN1331940020080513 LOL... here's the bonus they deserve [IMG]http://www.rothcpa.com/archives/misc/stripes.JPG[/IMG] last year was a bad year on the street, yet they still got RECORD bonuses: [b]Wall Street Plans $38 Billion of Bonuses as Shareholders Lose Nov. 19 (Bloomberg) -- Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion. That money, split among about 186,000 workers at Goldman Sachs Group Inc., Morgan Stanley, Merrill Lynch & Co., Lehman Brothers Holdings Inc. and Bear Stearns Cos., equates to an average of $201,500 per person, according to data compiled by Bloomberg. The five biggest U.S. securities firms paid $36 billion to employees last year. The bigger bonus pool derives from a record $9 billion of fees for arranging acquisitions and $5 billion for underwriting initial public offerings and sales of junk bonds, the most lucrative securities, Bloomberg data show. Bankers' record fees help explain why 2007 will prove to be the industry's second- most profitable after the subprime mortgage market collapse led to losses at Merrill and Bear Stearns. The last time bonuses declined was 2002 when the Standard & Poor's 500 Index fell 23 percent, and Enron Corp. and WorldCom Inc. went bankrupt. In the first nine months of 2007, Goldman, Morgan Stanley, Merrill, Lehman and Bear Stearns told their shareholders that they set aside $52.4 billion for compensation, up 9 percent from a year earlier. For the whole year, the figure rises to $62.5 billion, according to analysts' estimates that combined revenue at the five largest securities firms will climb 1.7 percent to $135 billion[/b] http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=ahE8xVisWsbE many of these people need to go to jail for the crimes they OBVIOUSLY committed. [/QB][/QUOTE]
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