Published time: October 31, 2013 13:40
Edited time: October 31, 2013 14:12
In a report, New York’s state Comptroller said Wall Street may not be able to match the $10.1 billion in profits it had in the first half of 2013.
Last year, the average Wall Street annual salary, including bonus, was $360,700, compared to the peak salary of $401,500 in 2007, just before Lehman Brothers collapsed and triggered America’s financial crisis.The average salary of a Wall Street employer is still more than 5 times the average New Yorker’s.
Former Goldman Sachs Chairman and CEO Henry Paulson was paid an $18.7 million cash bonus for his final six months of work on Wall Street in 2006.
“It’s too early to tell, but with profits down, I wouldn’t expect bonuses to be high,” Comptroller Thomas DiNapoli said in the report.
Wall Street financiers had similar fears this time last year, but still averaged an 8 percent bonus bump in 2012 which increased end of the year rewards to $20 billion...
The Security Industry in New York (click here)
People lost their homes and investments and the CEOs are always scared they aren't going to have million dollar bonuses every year. Really? The three best years in the history of Wall Street. Really? Gee, whiz, somehow I just can't build up much sympathy.
This is going to go over like a lead balloon, but, they make too much money. They are playing in international waters all the time, hedging their funds to make more money and the citizens of these nations are left to inch through life and in Third World countries they are hoping for their next meal. There is something very wrong here, I suppose it is convenient to call it inequity, but, it's more than that.
The CEOs are too removed from reality to relate to the trials and tribulations of average Americans. They are even more removed from the people of China, India and Bangladesh to even relate at all. They practice a dehumanizing existence whereby dollar signs are the only definition.
Dodd-Frank Progress Report (click here) - Thus far, only 40 percent of the required rules have been completed, slightly more than one-third share that had been completed by October 2012. (Talk about slow walking regulation. Like Wow.)
Their stockholders would state they aren't really happy with their performance and to that end they seek to be better, stronger and faster to earn more and more to maintain their jobs. But, to the rest of world their lives are ludicrous.
Countries can't close their budgets and pay down their debts, but, Wall Street has no problem handing out huge bonuses every year. There is a disconnect between the producers and the takers.
Oh, yeah, the Republicans in the USA call the average American takers because of food stamps for the working poor, Medicaid for the working poor and now health care subsidies for the working poor. But, are these people really the takers?
Absolutely not. The definition is all backwards. The producers are the ones working to manufacture, sell and service the industries Wall Street preys on. They are the producers. It is the working people and those retired and those disabled by work that are the producers.
The takers are the ones that reap riches on the backs of the producers. The takers are those that seek more and more money from a single stock while oppressing the best outcomes of the producers. Rather than being grateful they have producers, industry treats them as the peasants and seek more work for less pay. It is the takers that rob people of the joy of work. Joyful work causes rewards or at least it is suppose to.
Who should be getting the Lion's Share of those bonuses, the producers or the takers? Seriously, who should be getting the Lion's Share of those bonuses, the human beings producing the product, selling it and servicing it OR the takers that demand more and more income from their stocks?
The current system of EMPLOYMENT in the USA and elsewhere is backwards. Those that work are penalized for working, while those that seek money for basically finding new ways of robbing the employees are rewarded for doing so. The CEOs aren't following ethical work standards. They aren't grateful for their employees and they sure don't seek to reward them with an understanding their company is seeing a profit this year.
And, oh yes, there are times when a company doesn't profit. There are times when their product is not what consumers are seeking to purchase. It is those years that worries the CEOs so much they rather rob their employees as a 'sure thing' to their jobs and bonuses.
How long have American companies had inferior CEOs? Answer that question and then we will see the return of the Middle Class in the USA and other nation's around the world. I don't know about most employees, but, I am not sending my boss a Christmas Card this year.
Edited time: October 31, 2013 14:12
In a report, New York’s state Comptroller said Wall Street may not be able to match the $10.1 billion in profits it had in the first half of 2013.
Last year, the average Wall Street annual salary, including bonus, was $360,700, compared to the peak salary of $401,500 in 2007, just before Lehman Brothers collapsed and triggered America’s financial crisis.The average salary of a Wall Street employer is still more than 5 times the average New Yorker’s.
Former Goldman Sachs Chairman and CEO Henry Paulson was paid an $18.7 million cash bonus for his final six months of work on Wall Street in 2006.
“It’s too early to tell, but with profits down, I wouldn’t expect bonuses to be high,” Comptroller Thomas DiNapoli said in the report.
Wall Street financiers had similar fears this time last year, but still averaged an 8 percent bonus bump in 2012 which increased end of the year rewards to $20 billion...
The Security Industry in New York (click here)
People lost their homes and investments and the CEOs are always scared they aren't going to have million dollar bonuses every year. Really? The three best years in the history of Wall Street. Really? Gee, whiz, somehow I just can't build up much sympathy.
The CEOs are too removed from reality to relate to the trials and tribulations of average Americans. They are even more removed from the people of China, India and Bangladesh to even relate at all. They practice a dehumanizing existence whereby dollar signs are the only definition.
Dodd-Frank Progress Report (click here) - Thus far, only 40 percent of the required rules have been completed, slightly more than one-third share that had been completed by October 2012. (Talk about slow walking regulation. Like Wow.)
Their stockholders would state they aren't really happy with their performance and to that end they seek to be better, stronger and faster to earn more and more to maintain their jobs. But, to the rest of world their lives are ludicrous.
Countries can't close their budgets and pay down their debts, but, Wall Street has no problem handing out huge bonuses every year. There is a disconnect between the producers and the takers.
Oh, yeah, the Republicans in the USA call the average American takers because of food stamps for the working poor, Medicaid for the working poor and now health care subsidies for the working poor. But, are these people really the takers?
Absolutely not. The definition is all backwards. The producers are the ones working to manufacture, sell and service the industries Wall Street preys on. They are the producers. It is the working people and those retired and those disabled by work that are the producers.
The takers are the ones that reap riches on the backs of the producers. The takers are those that seek more and more money from a single stock while oppressing the best outcomes of the producers. Rather than being grateful they have producers, industry treats them as the peasants and seek more work for less pay. It is the takers that rob people of the joy of work. Joyful work causes rewards or at least it is suppose to.
Who should be getting the Lion's Share of those bonuses, the producers or the takers? Seriously, who should be getting the Lion's Share of those bonuses, the human beings producing the product, selling it and servicing it OR the takers that demand more and more income from their stocks?
The current system of EMPLOYMENT in the USA and elsewhere is backwards. Those that work are penalized for working, while those that seek money for basically finding new ways of robbing the employees are rewarded for doing so. The CEOs aren't following ethical work standards. They aren't grateful for their employees and they sure don't seek to reward them with an understanding their company is seeing a profit this year.
And, oh yes, there are times when a company doesn't profit. There are times when their product is not what consumers are seeking to purchase. It is those years that worries the CEOs so much they rather rob their employees as a 'sure thing' to their jobs and bonuses.
How long have American companies had inferior CEOs? Answer that question and then we will see the return of the Middle Class in the USA and other nation's around the world. I don't know about most employees, but, I am not sending my boss a Christmas Card this year.
