Want more money? Get off the government tit. Far as I'm concerned the incompentent/criminal bastards that run these organizations will still be grossly overpaid. They belong in a state penitentiary making license plates for .12 cents an hour.
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Obama's Wealth War--500k is PEANUTS
- Thread starter marketsurfer
- Start date
Quote from eminitrader007:
Boo hoo....They should know that "Beggers can't be choosers".
They have an option here.
Don't take the taxpayers' money.. file for bankruptcy and make zero, or take the money and make less than $500,000.
your post like many others is excellent
HOWEVER
I would bet that you are the type that would be severely against it
if it was you receiving it
Quote from CaptainObvious:
Want more money? Get off the government tit. Far as I'm concerned the incompentent/criminal bastards that run these organizations will still be grossly overpaid. They belong in a state penitentiary making license plates for .12 cents an hour.
we could fix entire economic problem
with just 1 or 2 public hangings
I SWEAR TO GOD we could
all this says is nyc is overpriced and must come down.Quote from marketsurfer:
http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?_r=1
PRIVATE school: $32,000 a year per student.
Skip to next paragraph
Related
In Curbing Pay, Obama Seeks to Alter Corporate Culture (February 5, 2009) Mortgage: $96,000 a year.
Co-op maintenance fee: $96,000 a year.
Nanny: $45,000 a year.
We are already at $269,000, and we havenât even gotten to taxes yet.
Five hundred thousand dollars â the amount President Obama wants to set as the top pay for banking executives whose firms accept government bailout money â seems like a lot, and it is a lot. To many people in many places, it is a princely sum to live on. But in the neighborhoods of New York City and its suburban enclaves where successful bankers live, half a million a year can go very fast.
âAs hard as it is to believe, bankers who are living on the Upper East Side making $2 or $3 million a year have set up a life for themselves in which they are also at zero at the end of the year with credit cards and mortgage bills that are inescapable,â said Holly Peterson, the author of an Upper East Side novel of manners, âThe Manny,â and the daughter of Peter G. Peterson, a founder of the equity firm the Blackstone Group. âFive hundred thousand dollars means taking their kids out of private school and selling their home in a fire sale.â
Sure, the solution may seem simple: move to Brooklyn or Hoboken, put the children in public schools and buy a MetroCard. But more than a few of the New York-based financial executives who would have their pay limited are men (and they are almost invariably men) whose identities are entwined with living a certain way in a certain neighborhood west of Third Avenue: a life of private schools, summer houses and charity galas that only a seven-figure income can stretch to cover.
Few are playing sad cellos over the fate of such folk, especially since the collapse of the institutions they run has yielded untold financial pain. But in New York, where a new study from the Center for an Urban Future, a nonprofit research group in Manhattan, estimates it takes $123,322 to enjoy the same middle-class life as someone earning $50,000 in Houston, extricating oneself from steep bills can be difficult. .......
continued in the nY times
http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?_r=1
Correct.Quote from eminitrader007:
I'm not sure what I would have done if I was receiving it but the people that are giving me have every right to add conditions.
In a previous life I was a corporate banker (account managament and credit). Companies to which we extended credit but which were teetering on the fence almost always had to meet certain covenants, both negative and positive. Positive covenants included certain financial ratios that had to be maintained in order for the credit facility to remain in effect. Negative covenants almost always included limits on withdrawals of any kind (executive salaries, bonuses, dividends, etc.), until such time as the company was back on firmer footing. It is a creditor's right to protect its money, and if the borrower does not like it then it is free to look elsewhere.
Back to the current situation, it is absurd to think that the country is going to spend huge sums and that the failed bankers who need the money expect to continue to live large and unfettered. Talk about a sense of entitlement!
Quote from Thunderdog:
Correct.
In a previous life I was a corporate banker (account managament and credit). Companies to which we extended credit but which were teetering on the fence almost always had to meet certain covenants, both negative and positive. Positive covenants included certain financial ratios that had to be maintained in order for the credit facility to remain in effect. Negative covenants almost always included limits on withdrawals of any kind (executive salaries, bonuses, dividends, etc.), until such time as the company was back on firmer footing. It is a creditor's right to protect its money, and if the borrower does not like it then it is free to look elsewhere.
Back to the current situation, it is absurd to think that the country is going to spend huge sums and that the failed bankers who need the money expect to continue to live large and unfettered. Talk about a sense of entitlement!
Bank chiefs to travel by public transport
hey will travel from points near and far â from California to the New York island â but the financial titans converging on Washington next week for a congressional grilling will all leave the private jet in the hangar.
Vilified for enjoying lavish lifestyles while their companies are kept afloat by billions of taxpayersâ dollars, the men formerly known as Masters of the Universe have opted to get a first-hand look at the USâs crumbling transport infrastructure.
http://www.ft.com/cms/s/0/7bbd5bfc-f495-11dd-8e76-0000779fd2ac.html
I like the idea to see Blankfein traveling "retail"...ha, ha, ha...ROFLMAO !
Quote from marketsurfer:
http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?_r=1
But in the neighborhoods of New York City and its suburban enclaves where successful bankers live, half a million a year can go very fast.
continued in the nY times
http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?_r=1
The key here is one's definition of "successful bankers".
Quote from vhehn:
all this says is nyc is overpriced and must come down.
That's exactly what I was thinking.
People don't have to be idiots you know.
For one job, if you are offered say $300K a year in a place where it will cost you $290K/yr to live, but you are offered another job for $150K per year where you can live well for $80K, no one is forcing you to take the first job, and you shouldn't wine about the high cost of living there if you do.
BTW - Haven't some of these companies ever heard of technology? Why do so many of their employees have to reside in NY City? I bet 99.9% of their business could be conducted online, over the phone and through video hookups.
JJacksET4