Wall Street's $$ bonuses

To KingC8 and others,
Capitailsm depends on the honesty of corporate executives.Which is the first fatal flaw in the system. Just as in every other political system the flaw is in humanity rather than theory of an economic/political system. Human greed will always overcome any system designed for fairness and justice. It is the way of this World.

with that much money being thrown around there should be pics of hundreds and not dimes,nickels, and quarters.

This is disgusting! We deserve everything we reap! Wake up America, time to get our shit together!!!

makes perfect sense.

all the fake money runs out, so, to keep the thing going, we bail them out with more fake money, with which they then reward themselves a big fake bonus.

it's poetry in motion.

(after all, you can't play musical chairs without anything left to sit on.)

Wall Street is set to pay out $20 Billion in bonuses.

Are they F'ing kidding us? Ok, we could buy maybe a $50 or $100....no I take that back. We are getting so Screwed by EVERYONE of the sharks in the government and Wall Street. We will seriously have to arrange an angry MOB, yes with torches for show....and demand financial responsibility. YOU SEE what is happening. Everyone knows what Borymp says IS true. They are filling their coffers knowing we will barely be able to afford toilet paper/food/shelter....Retail stores will be closing soon. Where I live, we lose a big one daily....The sky is falling and no one is taking charge. Its called "dispersed responsibility"

I guess I am just too educated or simply unable to stoop to swallowing such fallacies. Simply stated, why do so many of the “that’s capitalism” crowd express and cling to a model of market dynamics that has been forgotten for nearly 30 years now in business strategy. Before going any further, Yes, I have owned my own company (and it was successful). Yes, I may be founding a new firm in the near future.

Modern business strategy is largely rooted in hyper competitive practices where regulation, political climate, etc. are all dynamic elements within a dynamic landscape (note this differs from the static view normally derived from Porter’s 5-force analysis). However, these so-called free market enthusiasts express a desire for an environment that virtually no real corporation can exist in let alone ever desire.

So, I guess my real question is why are so many of the free market enthusiasts so ignorant of actual capitalism?

is this 20 billion in addition to the 70 billion from the bailout?
talk about greed squared.

How did we get to this financial mess?

A Wall Street Community Compliance Officer suggested leveling the playing field by rewriting the rules to let everyone be a crook… Unbelievable!

In January 2000 the SEC requested feedback from the general public concerning one of its controversial rules on selling securities short. One respondent was Bernard LoVerde, a retired Community Compliance Officer with a Wall Street Investment firm. In his submission LoVerde encouraged the SEC to allow everyone to adopt the market makers’ and broker/dealers’ covertly rigged and protected practice of selling securities without meaningful regulation… what he describes as a game the authorities permit by ignoring regulations and without disclosure:

To Whom It May Concern:

I am a retired member of the Wall Street Community after spending years in the Operation & Compliance (as both a senior member and director of both departments) sides of NASD member firms. This included the oversight of the trading activities of numerous branches, registered representatives, and the actual Trading Departments of the last two firms I worked for. As part of these activities I have spent numerous hours reviewing trading operations and compliance as well as immeasurable amounts of contact with both NASD and SEC regulatory officials.

I am writing this to you regarding the above referenced matter as I feel compelled to offer my comments on the subject at hand.

It is my personal belief that it is of the utmost importance to maintain, and strive for, the concept of "fair markets". To that extent I believe that it is absolutely necessary that you level the playing field for the investing public with regard to the trading strategy of short selling.

It is time to create, and enforce, a single set of short-selling rules which will apply to specialists, market makers, broker/dealers, and the investing public. As such, I urge you to remove what I believe to be the inequitable and discriminatory regulations that restrict the public investor's ability to short-sell stocks, while providing preferential treatment only for the market makers and broker/dealers…

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… However, on the flip side, market makers and broker/dealers have rigged the game so they can play by a different set of rules than the general public and, to date, this has been protected by the regulatory bodies. These market makers and broker/dealers have done this for no other reason than to line their own pockets under the sham of maintaining "fairness" in the market. Every day, market pros short sell IPO's, short sell on downticks, and short sell without regard to the availability of certificates, all things done at the expense of individual investors, who do not have the right to do the same. They do it quietly, without regulation, and without a requirement for disclosure; often in direct contradiction to the public "recommendations" of analysts from the very same firms which I believe is another area that the regulatory bodies should be aware of (for example look at the recent action in AMZN where outlandish price targets were placed on the stock creating a price run right before the stock pre-announced a financial warning). The public will be best served by administering the markets so that every investor wishing to place their own money in an "at-risk" trade be allowed to do so under the same rules.

Therefore, I urge you to eliminate current restrictions on short selling, and allow the public to sell short by the same rules as market makers.

I thank you for your time and consideration and would be more than happy to discuss this with anyone on your staff.

Sincerely,

J. Bernard LoVerde Jr.

Source: LoVerde’s letter to the SEC, January 31, 2000: http://www.sec.gov/rules/concept/s72499.shtml

Too bad the terrorists didn't choose to destroy Wall Street instead of the WTC.

Our society needs to invent salary caps and quick.

Damn it. I'm in the wrong profession.

I'm glad I could help those poor people. I hope they can afford to by some integrity now.

Light my torch! I now know where to extinguish it.

What started with the FED and the corrupt investment banks on Wall Street has now spread around the world.

Listen to what Bernie Sanders (Independent Vt) had to say to former FED Chairman Greenspan in 2005: http://www.brasschecktv.com/page/454.html

jtl you are right.

The $800 billion bail-out was a drop in the ocean for what was needed to neutralize the situation.

The mentality is, squeeze the public, bag the money, get into the last lifeboat and adiós suckers!

When Barney Frank and Christopher Dodd are caught exchanging emails concerning getting rich before the public finds out, you have to believe these butt buddies are fringe players and the real thieves are higher up on the food chain.

The Washington two-step.

Our elected officials turning America into a doormat.

Hey! I'm sorry to piss in everyone's cornflakes here but that's the way a company works.

The customers paid up, the execs paid themselves lots, it failed and everyone lost money.

But, people learned a valuable lesson! -Don't trust the bankers! Fools were separated from their money.

There's no need to start quoting Marx and growing a beard about it.

This just in - Capitalism has downsides!!!

Is there a way to channel some of that Wall Street cash into educating you dopes on how Commerce works in a free society?

Why can't we discuss how my awesome best friend, Dr. Patrick Michael Byrne is affiliated with 3 privately held family investment funds. Or, as you are want to call them: Hedge Funds.

Takes one to know one.

lenofus

If nothing else comes out of this debacle, one thing will shine out. Wall St. bankers have the morals and scruples of cockroaches. There is no shame or guilt, just greed. I liken them to guppies who eat their young.