Monday, April 27, 2009


Wouldn't you know it. Wall Street firms, flush with taxpayer money, and federal guarantees, are now looking to start paying their employees as much - if not more - as they were making before the economy's collapse. This story from the NY Times makes it clear that these guys still don't get it. They actually think they earned the money they're now being paid when, in fact, if it weren't for the federal government and the U.S. taxpayer, most of these guys would be walking the streets looking for a job. How do they justify this? (click on the graph to enlarge).

I find the NY Times' title for the article rather interesting too: "After Pause, Wall Street Pay is Bouncing Back" ... Look, Wall Street isn't bouncing back. Wall Street is sucking the American taxpayer dry, and laughing all the way to the bank (which might be a more appropriate title). But if we're going with the actual title it should read, "After Pause, Wall Street Pay is Bouncing Back Because of Government Bailouts, Taxpayer Money, and Government Guarantees" ...

Most of these market players don't deserve high(er) salaries. They deserve salary cuts and/or to be out of work.

- Mark

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