Those poor Goldman Sachs employees had to get by last year on just a $343,000 bonus. How exactly does Goldman Sachs benefit the world economy in any way whatsoever? They use their connections with the Federal government to bilk the American taxpayer out of billions. They cheat their clients out of billions. They commit financial fraud on a grand scale (Greece). They control the Federal Reserve and the Treasury Dept. Then they reward themselves with billions in bonuses for a job well done. So it goes.
Hope@ZeroKelvin says:
What the GS will do with their bonus money:
1) Rub it on their genitals and pretend the money is their Hollywood vixen of choice.
2) Roll 100$ bills into tubes to snort more cocaine.
3) Stuff 100$ bills into the thongs of their favorite pole dancers.
4) Bundle in $10K amounts to pay off their favorite fed.gov employee, the Democratic party, local bookee, same diff.
5) Hire some private security, heavily armed of course, as they lobby for more gun control for the little people.
Money well spent.
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16th January 2013 at 9:09 am
Eddie says:
They’re probably buying land in New Hampshire or Maine and prepping. Just a guess.
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16th January 2013 at 9:20 am
sangell says:
They’re building America with their bonuses. Using their financial savvy to bring financial services to the poor
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16th January 2013 at 9:43 am
Administrator says:
SO IT GOES
Goldman, Morgan in $557 mln foreclosure settlement
WASHINGTON (MarketWatch) – The Federal Reserve announced Wednesday it reached a $557 million settlement with Goldman Sachs Group Inc. (NYSE:GS) and Morgan Stanley (NYSE:MS) over foreclosure abuses stemming from the so-called robo-signing scandal. The two big banks have agreed to pay $557 million in cash payments and other assistance to help mortgage borrowers. The settlement comes after 10 other big banks have reached an $8.5 billion similar settlement with federal regulators. The Fed said Goldman and Morgan Stanley were subject to “enforcement actions for deficient practices in mortgage loan servicing and foreclosure processing.” The settlement includes $232 million in direct cash payments to borrowers, some of which went through foreclosure. The banks have agreed to provide an additional $325 million in other assistance to homeowners, such as modifications on their mortgages or cuts to the amount borrowers owe. Four banks, including HSBC (NYSE:HBC) , are still in discussions with federal regulators over foreclosure issues.
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16th January 2013 at 10:08 am
Administrator says:
THE WALL STREET PRICKS AREN’T SATISFIED WITH THEIR BONUSES. I’M LOOKING FOR A LAMPPOST.
Wall Street execs feel (a little) bonus pain
January 16, 2013, 9:27 AM
From the head of J.P Morgan, to the trader on the floor, it’s shaping up to be an ugly bonus season on Wall Street.
Jamie Dimon saw his bonus pay cut 50% as a result of more than $6 billion in losses from the London Whale trade, which he once dismissed as a “tempest in a teapot.”
But don’t shed any tears. Dimon walks away from 2012 with an $11.5 million payout for his work at J.P. Morgan /quotes/zigman/272085 /quotes/nls/jpm JPM -0.65%, down from $23.1 million a year ago.
Farther down the Wall Street food chain, financial industry workers are seeing more deferred compensation plans.
A new system to spread out bonus payments to Wall Street bankers at Morgan Stanley /quotes/zigman/182639 /quotes/nls/ms MS +0.22%means bonus-eligible employees there won’t be getting the big cash payouts they’ve become accustomed to over the years. Instead, those payments will be spread out over several years in a bid to ensure less risky behavior on the part of those managers and traders.
Some argue that the approach, long favored by regulators, will simply end up driving talent out of the banks to hedge funds and other less regulated financial sectors.
Deferred bonuses carry risks for employees. If they leave before they’re paid, they can’t collect. And if tax laws change, they may be hit as well.
An attempt by Goldman Sachs /quotes/zigman/188479 /quotes/nls/gs GS +2.29%to delay bonus payments until April, when lower tax rates kick in, backfired, causing a public outcry. The payments will now be made, and taxes paid, under the higher rates.
– Tom Bemis
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16th January 2013 at 10:13 am
Administrator says:
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16th January 2013 at 10:27 am
KaD says:
They deserve 343,000-years in prison.
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16th January 2013 at 11:33 am
Kill Bill says:
Wealth creation thru fiat extraction
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16th January 2013 at 6:19 pm
llpoh says:
Who the fuck cut my bonus? $400,000 my fat ass. No way I am putting up with the shit I do for a measly $400k.
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16th January 2013 at 7:10 pm