Real Estate Broker · Fort Myers, FL · Member since 2008 · 1k+ posts · 323 votes
Tie this little dodge into the history of intelligent and brutal
business sense & it just heightens the respect for these sharp dudes.
They both get to watch their "competitors" take it on the chin
PERSONALLY now, while JPM & GS execs spend their "private" bonuses on the French Riviera all by themselves.
EVERY advantage, it's all they want, and what they generally got through all the years they've been in the game.
That doesn't make 'em right, it just makes 'em survive better & live
well in the process. They've both gotten plenty of OUR money, but when the guy you used to eat lunch with takes the REALLY big chair, I guess you get a "pass" on the pay-cut rules..
Gotta be some REALLY ticked-off Bignecks in the formerly-Big Bank/Stock world these days.
Real Estate Investor · San Antonio, TX · Member since 2008 · 553 posts · 20 votes
17y
Jeff,
I agree with the respecting the sharp but, in my eye's this whole salery cap crap is more of an empty jesture to appease the American people than anykind of real accountablity being dispensed.
So they can't get cash bonuses big deal they can still get bonuses in the form of stock!
Flipper/Rehabber · Los Angeles, CA · Member since 2009 · 1k+ posts · 732 votes
17y
It is an attempt to make average Americans feel better..but i'm sure they will find loopholes around it. These execs have already looted literally hundreds of billions..maybe trillions of tax payer money...$500,000 is too much anyways.
Real Estate Investor · StL, MO · Member since 2008 · 296 posts · 152 votes
17y
I agree with Jeff, the common stock in these companies can't be valued right now. They may not go to zero but 75 cents isn't much better than that. I do think that the government learned their lessons when they let Lehman go BK and they WILL NOT let that happen to another large financial company that has debt spread around everywhere like Lehman did (money market funds almost went under along with faith in the entire system). So I would look into their debt for near equity like returns. I chose Goldman Sachs as they have so many connections in the government it's scary, so I feel comfortable that the gov won't let them go under. I have 1 bond that is paying 7.8% and matures Jan 10 and another paying 7.35% maturing in Oct 09.