Comments on: Rate Cuts and Fed Rescue Prompt Outrage At Wall Street

By: guest

guest — Wed, 19 Mar 2008 19:14:55 +0000

why is it that people think they have some sort of special finance world knowledge just because they read When Genius Failed?

By: Anal_yst

Anal_yst — Wed, 19 Mar 2008 18:26:27 +0000

No one @ Jezebel has any business pontificating about the Bear/JPM (or really any other non-gossip) wall street issue, same to how, oh, most of us have no business commenting on 99% of the crap on Jezebel…
11:20 pretty much summed it up

By: guest

guest — Wed, 19 Mar 2008 17:42:41 +0000

The Ayn Rand comment was spot on though.
Basically philosophy for people that couldn’t understand Neitzsche and have a subscription to Maxim.

By: Suits

Suits — Wed, 19 Mar 2008 17:17:17 +0000

12:03,
Do you know who Jimmy Cayne is? Do you know about his involvement in LTCM, and the ramifications of that event that might be playing out today? If you don’t, why do you feel qualified to comment on this issue?
11:43,
As for the employees diversifying out of their 401k’s, you’re certainly correct, I’m just pointing out you can’t cry “Wall Street Bailout, No accountability, no ownership” on one hand while there was certainly plenty of accountability and ownership among those who are suffering the most from the “bailout”.

By: guest

guest — Wed, 19 Mar 2008 17:05:46 +0000

11:47 – Exec Comp lawyer, but have spent some time with qualified plans, almost everyone has to …

By: guest

guest — Wed, 19 Mar 2008 17:03:31 +0000

Also, Alan Schwartz has 1M shares, including restricted stock, so there’s no way he lost a billion dollars. Secondly, anyone know how he was issued, in December, options with a $0 exercise price. I didn’t pull the SEC disclosure sheets, but that’s what it looks like, and that’s, well, to say it plainly, so far away from legal he should have slapped the cuffs on himself.

By: guest

guest — Wed, 19 Mar 2008 16:47:39 +0000

11:43 Calm down son. Those are esoteric points that only an ERISA attorney or some sort of plan fiduciary would be well versed in. (I’m guessing you’re the later).
Also, in my experience that “advice to employees that they can diversify out of employee stock” generally takes the form of a one liner buried at the bottom of some other communication about the plan.

By: guest

guest — Wed, 19 Mar 2008 16:43:37 +0000

@10:55….Male bartenders in Houston are called “Hoss…”. Female bartenders in Houston are called “Darlin’….”
Male bartenders in Amarillo are called “Slick…”. Female bartenders in Amarillo are called “Sugar Booger”.

By: guest

guest — Wed, 19 Mar 2008 16:43:00 +0000

Hey Suits-
Restricted stock is another story, but you realize that a 401(k) plan that doesn’t allow an employee to diversify out of its stock is not in compliance with the tax exempt trust requirements under 401(a), and any employer that fails to give advice to their employees that they can diversify out of employer stock will be personally liable for the losses. So, assuming that they actually told them, then the employees are idiots for not diversifying. Aren’t you guys all investment people? I mean, we’ve obviously found out that “risk management” and “diversification” mean nothing to you, and your lack of understanding that a “pledge” may actually require it to be funded is well proven by the current market situation, but wow, you really don’t know much for being “resume” smart.

By: guest

guest — Wed, 19 Mar 2008 16:30:52 +0000

How many billions were written off by Wall Street firms because IBs, their execs and traders were Googling porn at work? Seems like the banktards should have encouraged porn Googling instead of subprime dealings. Just sayin’……

By: guest

guest — Wed, 19 Mar 2008 16:28:31 +0000

@11:18 I googled “Steele Ranger” and from the entries was able to get the name of the star. Trying to go beyond that might have caused career damage. GAnalYst

By: guest

guest — Wed, 19 Mar 2008 16:23:06 +0000

If I owned Hell and Houston, I’d live in Hell and rent out Houston. Now, get back to work, Mr. Ellis.

By: guest

guest — Wed, 19 Mar 2008 16:20:59 +0000

It is scary how little people actually understand about what is going on, particularly with respect to the “bail out” and the $30 billion.
Yet, oddly enough, the people who know the least seem to be the most confident that they have a plan to fix it all.

By: guest

guest — Wed, 19 Mar 2008 16:18:33 +0000

is it okay you are googling gay porn at work?

By: guest

guest — Wed, 19 Mar 2008 16:17:02 +0000

I stand corrected. The star of “Steele Ranger” was CHRIS Steele (I googled it). I repeat, that scene with the hiker was AWESOME. GAnalYst