A new report suggests that bonuses for Wall Street bankers, brokers and traders are about to plummet.
That’s right. The Wall Street players will be getting less bonuses, paid for by easy Federal Reserve money.
Goldman Sachs announced in the fourth quarter that its compensation expenses would fall 12 percent. This surprised some because one of the world’s largest financial institutions increased its payroll. But then again the stock market isn’t doing too well.
In the last year, Morgan Stanley bonuses have come down 10 percent.
JPMorgan Chase, though not giving the price numbers, noted that its compensation “has come down across the trading business.” U.S. Bancorp CEO Richard Davis told investors that it was not going to pay out 100 percent of its bonus pool, which is the first time in a decade.
“I’m okay with that, because we live and die by the sword, and our guys are amazingly competent and capable,” Davis said. “And when we have great years, we pay them out handsomely over 100% of target and when we don’t, we don’t.”
It’s quite likely this will spill over into 2017 because the New Year hasn’t started off well at all (and that’s an understatement).
“We’re only dropping a couple mil, no biggie! It’s only Obama’s printed Curious George money and doesn’t count really anyway.”
Lol! Where you going with all that meaninglessly misplaced NeoNatalNaziConFusion, Andrew? To the bank??? Lol.
“I mean, we tough guys live and die by the sword anyway. Our team is fantastic!”
Yeah, but you no longer own any legitimate crowd-sourced volume demands anymore, Einstein. Can’t afford to be responsible for the tiime it takes from each day-on-day activity to do aything constructively productive.
I’m only maddeningly frustrated, overconfident and left spinning my own confused reality in the dark somewhere?
Oh, if only such hopes came true. A few of us intended to, that most want nothing to do with, social outcast loners, clearly see what that vast majoruty don’t. Impossible, you say. Lol…