As you’ve likely heard, Henry Waxman has sent letters to nine banks demanding that they justify pay and bonuses. The representative from California wrote, “I question the appropriateness of depleting the capital that taxpayers just injected into the banks through the payment of billions of dollars in bonuses, especially after one of the financial industry’s worst years on record. Some experts have suggested that a significant percentage of this compensation could come in year-end bonuses and that the size of the bonuses will be significantly enhanced as a result of the infusion of taxpayer funds.” Apparently the institutions are to get back to him by November 10 with answers. I have to say, this legitimately frosts my cookies.
I’d have more respect for the chairman if he pulled a Barney Frank and got on his megaphone and called for a ban on bonuses outright. But this meddlesome bull shit is actually quite disturbing. I’d like to know what Wax would consider acceptable justifications (which presupposes he’s thought about this and isn’t just winging it). Do the banks that fail to refer to him as Herr Henry get automatically disqualified from bonuses this year? What about the ones that rail against the “excessive and outrageous greed that permeates Wall Street” and include pictures of their first year analysts being bent over a desk? Are they up this year? For every paragraph that doesn’t include a footnote complimenting Waxy on his distinguished chin and Roman nose, do bonuses drop five percent? No one should respond this request. As a compromise, a la NFL challenges, Waxman can pick three employees’ bonuses each year that the banks have to give good reason for distributing. But that’s it.
Chairman Waxman Requests Compensation and Bonus Information for Employees of Major Banks [Committee On Oversight And Government Reform]
— Advertisement —
Comments (106)
Leave a comment
You can log in with your account or comment as a guest below.
- Use the Bloomberg command
NH BLG_DEALBREAKER <GO>
to access Dealbreaker
first
first
there should be a severe cap on bonus to everyone who works for a bank receiving federal aid – say maximum 50% of 2007 bonus for 2008, 2009 and 2010
He’s got beer gavel.
Isn’t all the information that the government requires to be disclosed to shareholders re: compensation already included in a bank’s public filings with the SEC? Mr. Waxman should have his staff check there, instead of initiating this witch hunt. Another reason to vote Republican next Tuesday.
..and I don’t see any justification of using taxpayer money to pay for the salary and benefits that Congress enjoys either!
@4- Awesome idea. Then all the talent at these banks, which are now owned by the government, will decide “F this” and bail.
Then the lucky taxpayers will be the proud owners of a financial company with shitty do-nothing employees who are happy to accept a huge pay decrease for the next 3 years.
What a good deal for the taxpayer!
@4… right on.
Sorry guys, but the worker bees on The Street are just going to have to suck it for a while.
The bonus should be 100% common stock. Purchased in the open market at current prices in one transaction. And they should have employees vote on whether they feel the CEO deserves the bonus.
then he should just say ‘no bonuses,’ not ‘tell me why you deserve this.’
@4
realistically, you can’t cut them to zero
i think a cap like 50% of last year would be legitimate
@10,
Are you high on crack cocaine right now?
If some motherfucker in the room can raise his hand and say, “I helped prevent the near collapse of the economic system as we know it” then I’ll gladly pay said motherfucker a bonus out of my own pocket. (I’ll even pass the hat around.)
Don’t give me this “talent drain” bullshit. Gonna’ jump from GS or MS because you can’t get your bonus? Where are you going to jump to? LEH? BSC? A hedge fund.
Right. Go ahead and jump. Right out of your fucking window.
Talent drain my ass. It was your so-called talents that BK’d the country. Congrats.
“I question the appropriateness of depleting the capital that taxpayers just injected into the banks through the payment of billions of dollars in bonuses, especially after one of the financial industry’s worst years on record.”
Congress had a worse year than Wall Street, but I don’t hear any Congressmen wanting to reduce pay or benefits to Congressmen in order to bolster the balance sheet of the United States.
spread the wealth
I concur with Congress and request a freeze of my bonus to the 2007 level.
I concur with Congress and request a freeze of my bonus to the 2007 level.
“All the talent”
Today MS and a few others settled yet another lawsuit from the dotcom era, ten years later. How much product is actually produced versus how much busy work is created to give the appearance of work? If all the great talent leaves does that mean they will take their gambling mentality with them? And what exactly does a 28 year old kid bring to the table for XYZ Corporation, a detailed definition of synergies and a 5mb excel sheet? Perceived value that creates its own arbitrage, not bad. But all arb plays come to an end.
pumping out powerpoint slides and, every once in a while, a spreadsheet does not make you “talent.”
i’ll give you the “i work a shit ton of hours” point. I don’t think anyone should work 85 hours a week for 60K, but calling yourself talent is absurd.
i guarantee you i can find talent like yours at ANY college campus in the US.
The problem with human capital is that your assets leave every night and don’t need to come back. If pay prospects are low and they can do better elsewhere, they will leave and the firm will die now taking tax payer money to zero. I’m not for big bonuses and I think everyone on the Street gets the idea of sharing the pain but the bottom line is that no one is going to take a few years of $200K “for the gipper” when they can go elsewhere and take down several multiples of that. Market rates are down and lots of people are on the street looking and hungry but if you don’t can’t pay market rates, then you lose your employees as there are people who can and will provide market comp.
@8, where are they going to go? everyone’s got thier hands in the goverment pot. start companies? with what capital? go work for a hedge fund?
@19
WHOOT!!!
YEEEHAW!!!
WHOOT WHOOT!
the point isnt whether or not ppl should get bonuses, the pt is that waxman is a meddling bastard who obviously gets off on his “power.”
@21 you said “there are people who can and will provide market comp.”
WTF are you talking about? Who!?
I’m actually looking forward to hearing the banks justifying the payment of bonuses! Bonuses are supposed to be additional compensation for a job well done and not assumed that they will be given, esp. in the worst financial environment in a generation. Will a bank that lost only $10 billion assert that it should give bonuses because it didn’t lose $50 billion like others?
I am currently building an evil army and will gladly pay greater than 200k for talent.
-General M. Bison
@26- waxman absolutely sucks at trying to get people to justify bonuses. did you watch the fuld hearings? fuld came out looking good, congress looking stupid.
actually, seems like a legitimate concern. And I work for one of the Nine.
@ 20
Um, most kids in college are pretty useless, so I challenge that assertion. There are alot of smart people on the street, don’t lump everyone into the same pot.
@ 26
See my comment above. Very small % of employees had a direct impact on the variety of royal f-ups we’re currently dealing with. If my desk actually made $ this year, why the hell shouldn’t I get a performance-linked bonus?
If you want to give bonuses, thats fine.. just go ahead and give us our money back then.
Oh, whats that? Ok then nevermind.
@8 IS EXACTLY RIGHT. WHAT THE LIBERALS AND LAZY DO NOTHING WELFARE CASES OUT THERE DON’T UNDERSTAND IS THAT I & MANY OF MY COLLEAGUES WORK BECAUSE WE WANT TO, NOT BECAUSE WE HAVE TO. I DON’T HAVE DEBT, 100% LIQUID, AND UNLIKE THE MASSES OUT THERE, DIDN’T SPECULATE IN HOT REAL ESTATE. I DIDN’T HAVE TO. IF CONGRESS STARTS IMPOSING PAY LIMITATIONS, RAISING TAXES TO ABOVE 1/3 CONFESCATION, THEN YES, PEOPLE WILL TAKE THE NEXT 4-8 YEARS OFF AND DO SOMETHING ELSE AND JOE TAXPAYER WILL BE LEFT HOLDING NOTHING. THAT IS WHY THE PURCHASES BY PAULSON ARE IN PREFERRED SHARES WITH GUARANTEED DIVIDENDS. @14: NOW GET ME MY COFFEE SO I CAN ADD VALUE.
@32
You will by my capitain.
-General M. Bison
“Captain”
-GMB
waxman should say ‘yes’ or ‘no’ to bonuses. i’m skeptical that this exercise has anything to do with fairness than him getting back at the people who bullied him when he was a kid. waxman is now the bully.
Let’s face it, the employees of said banks are among the few making an income high enough to pay the taxes that funded this bailout. They’ll just get some of their money back.
What I can’t justify is paying congress.
How has NO ONE noticed that his source is Time magazine? How is that research? If he wants no bonus then just say that and see what happens.
Talent is relative, afterall, strippers in Detroit are still considered “the talent” at their establishment.
One of the banks should respond with a letter with #7′s idea in it.
ARRRGGGHHH – YO, GASPARINO…CHECK OUT HOW MUCH FUCKING WEIGHT I CAN LIFT WHILE TYPING WITH ONE HAND AND SIPPING A MUSCLE MILK!!! GOD MOTHERFUCKING DAMNIT, I THINK THE JUICE COARSING THROUGH MY VEINS IS MAKING ME BREAK-OUT IN ACNE!!! I HATE PUPPIES AND KITTENS!
talent drain? that made me laugh. where the fuck is anybody gonna go? there are no jobs bitches! who the fuck is going to hire you if all you know is putting together pitch books or some worthless timebomb derivatives. those arent exactly skills useful anywhere else in the world.
And holding onto that 95000 base is better than 405 a week
There is already a well-defined payscale for government employees. It’s called the General Schedule. Put all these welfare bankers on that. If they work really hard they can work their way up to GS-15 at $95K.
http://www.opm.gov/oca/08tables/pdf/gs.pdf
This is just the beginning…
We should pay Waxman at an hourly rate, and monitor/supervise him to make sure he is actually working and doing legitmate work (say, doing research on upcoming bills or reading constituents’ letters). That way we can be sure he deserves his $169,300 + pension + benefits.
Do you people really think that the American taxpayer is going to tolerate you people getting bonuses after they had to use tax money to bail you out?
Are you people seriously this stupid?
And what are you going to do if you don’t get one? Stomp your feet and cry? Where the hell are you going to go? There’s no jobs anywhere in this economy, not even across the pond.
You are delusional if you think you’re getting anything greater than 10% of what you got last year. If any of you get bonuses its going to end up like the AIG junket fiasco, all over the O’Reilly factor and Lou Dobbs show.
Guaranteed. It is never gonna happen. Better luck next year.
@26/no bonus crew
are you joking?
if my desk makes $75 million this year then i get a fucking bonus that corresponds to that figure. end of story. producers get fucking paid for producing. if they don’t they will find somewhere else to produce. its that simple. after all, we are not communists!
@ALL CAPS
truth! but you are still a fucking Munson and i wish you misfortune.
@25, you don’t have to employ the entire street or take every employee at a firm and export en mass. A huge amount of damage can be done via a a small number of key people leaving.
Believe it or not there is enough money out there to allow a high value person who can generate big numbers to avoid making his base for years. Still plenty of appetite and capital for low risk propositions like that.
That said, there’s not enough to go around nor should there be. Live by the sword, die by the sword. The also rans and unlucky will get hammered.
So Group A exceeds plan, does brilliantly and has contractual bonuses based partially on this performance – the bank as a whole needed bailout money because of the dipshit CDS desk and others – why, should Group A not be compensated? Actually – Group A has to be compensated or it’s breach of contract. Don’t pay out and they will be welcome with open arms elsewhere and they’ll cost the bank more money in litigation.
@44
We are not communists all the way YET. We’re getting there. Just watch.
@46
Those contracts are usually pretty much say that the bonuses are optional – unless there’s a guarantee and I haven’t seen one of those in a while. Bu it doesn’t matter – your better point is that producers are welcome anywhere even in tough times (especially in tough times) because they…uh…produce. Hooray for options traders.
Can someone please calculate how much these bonuses and profits of Wall Street banks have contributed to the coffers of the Federal Government?
Wall Streeters are one of the top if not top reasons why the Top 1% paid for 40% of federal taxes (and only received 22% of gross income)
This board has become infiltrated with the Yahoo boys who don’t seem to understand how at will employment works or how to run an actual business.
#44 said it, producers will be paid or they will produce for someone else. Human capital is fluid over the medium-term and if you leave an opening someone else will move in and fill the void. There will be a shrinkage but big legit producers will always find a home or someone willing to let them build their own for a cut.
@48
Not enough! Whoot! Yeehaw!
Yes, but if Bank A goes bankrupt because of the CDS desk, then NO ONE has a job OR a bonus, even the people in Group A. The Gov bailed out your bank and saved it from bankruptcy. Ergo, you won’t be getting paid a bonus this year. You watch. Bring all the lawsuits you want, the bank will bleed you dry.
Hysterical that you still think you can get jobs at other banks. It aint happening fellas. Give it a rest.
@51
YEAH! WHOOT!! WHOOT!
(turn to spit on floor)
WHOOT!
Tired of people discrediting the finance industry because what we produce (liquidity) isn’t a product you can hold or touch. People really think we don’t need to retain the talent we have in this industry? The whole industry needs to pull a John Galt and let everyone go back to the fucking barter system.
Yes, but if Bank A goes bankrupt because of the CDS desk, then NO ONE has a job OR a bonus, even the people in Group A. The Gov bailed out your bank and saved it from bankruptcy. Ergo, you won’t be getting paid a bonus this year. You watch. Bring all the lawsuits you want, the bank will bleed you dry.
Hysterical that you still think you can get jobs at other banks. It aint happening fellas. Give it a rest.
Also if you anyone noticed, there have been no requests for foreign banks, regional banks, boutiques, private equity, or hedge funds. So talent drain can go over to those institutions.
@53 Fuck Ayn Rand you geh.
I’m actually looking forward to hearing the banks justifying the payment of bonuses! Bonuses are supposed to be additional compensation for a job well done and not assumed that they will be given, esp. in the worst financial environment in a generation. Will a bank that lost only $10 billion assert that it should give bonuses because it didn’t lose $50 billion like others?
@14- no, you won’t, and you would have to pass the hat around, because clearly there ain’t much in your pockets, judging from your hostility.
The “so called talents” added value to this country, which let you daytrade your little portfolio, always with a lifting wind at your back. Now you want to cry because it’s gone the other way.
If you think finance is dead you are no student of history. Achievers will go where the money is- no matter where it’s located geographically or in what industry. If they’re capped, they’ll go do something else, and they’ll make money doing it.
And, of course, you’ll always be you.
8
Top marginal tax rate in 1929 was 24%. By 1936, 79%. Someone’s gotta pay for all this shit — and it’s going to come out of bankers’ hides one way or another.
One bank will do it & rest will fall in line…..
Beggars cant be choosers
@8,44.
During the course of history, many men who were “irreplaceable” have come and gone. Guess what? There are tons of companies operating fine without you guys. How are they doing this without your talent? By the way, they are probably doing it without having to be subsidized by the taxpayers.
Turn this mess around, payoff the taxpayers, then get a huge bonus and live it up all you want.
@14, 20, 43, 51, 57. Thank you!
@59
yeah, but by the 60′s the folks in the 79% bracket were actually paying 23%
Huh. Let me think about this one….
So Waxy wants to take “billions of dollars of bonuses” out, right? Let’s see, if the talent leaves, the government stands a snowball’s chance in hell of getting repaid on it’s “investment” in this bailout, becuase let’s be honest, that is what it is.
Now, in comparison, how much of that $800Bn that the gov’t has blown in Iraq are we gonna get back?
Talk about cutting of your nose to spite your face. Not to mention the fact that if you DON’T pay bonuses, you get a) no tax revenue on said bonuses and b) an economy further demolished by lack of spending. Seriously short-sighted knee-jerkers in here.
Where the hell is that valley?
@53 Who the fuck is John Galt?
SPODE
So after the banks pay out bonuses how long before they can ask for more money (since they still are and always were insolvent)?
Come out here to the San Fernando Valley. We have lots of openings for “talent” and pay cash on the spot.
Market rate will be what market rate will be, much lower for many and lots of unemployed/finding selves in new careers but that still defines a market (lower demand and over supply – demand is not zero with government cheese the only game in town). Bottom line, significant private and fresh capital is available to those who can produce a good return on investment – it’s all about risk/return and no employee is locked up.
To the Yahoo boys – beat up bulge bracket and major commercial banks aren’t protected or the only game in town. Some of the employees you want to beat up on actually do generate a ton of money and valuable services (this comes with a broad network and better than average chance of raising fresh cap). It should not come as a surprise to you that they might not hang around to take a worst case long-term financial beating. I realize there’s some major bitterness here but no one is forced to do anything and if the government wants to protect its investment, there will be bonuses, which by the way are just a way of saying highly variable compensation dependent upon many factors (individual/team performance and market rate are two of those, health of the firm is a 3rd and if the firm can’t pay or get close to what the other 2 merit, the firm goes away and something else fills the void).
Notice how Chuckie and Hillary! aren’t out in front on this one? That’s because NYS and NYC are the ones that are going to get the biggest shaft…
The letter
http://oversight.house.gov/documents/20081028142518.pdf
Waxman flies first class to California. Which taxpayer pays for that?
BTW: He is such a tiny man. Except for the big, bald head, I would have thought he was 14.
I think we should all send letters to Waxman telling him exactly why we need bonuses.
My Amex bill is at $9k this month… help a brother out!
The revolution has arrived, and it looks like Henry Waxman. I’m sure Waxman benefitted greatly from Fannie Mae and Raines, the true origins of this mess. And then he’ll speak of how he is accountable to the voters, except given redistricting that he’s benefitting from, it’s unlikely he’ll ever have a real challenger. This is a witch hunt to the nth degree and nothing good will come of this. I support Obama because he at least seems to have a brain, but this Congress is just a joke. Just wait until the list of highly compensated employees makes it out to the broader world. I’m sure they’ll be no reprecussions from that. Capitalism was fun while it lasted…
The revolution has arrived, and it looks like Henry Waxman. I’m sure Waxman benefitted greatly from Fannie Mae and Raines, the true origins of this mess. And then he’ll speak of how he is accountable to the voters, except given redistricting that he’s benefitting from, it’s unlikely he’ll ever have a real challenger. This is a witch hunt to the nth degree and nothing good will come of this. I support Obama because he at least seems to have a brain, but this Congress is just a joke. Just wait until the list of highly compensated employees makes it out to the broader world. I’m sure they’ll be no reprecussions from that. Capitalism was fun while it lasted…
hey anyone know where i can pick up a sweet battery park city condo for like $2300 – $2500 a square foot? 2 bedrooms a must.
TIA
@69 I can not believe the tool footnoted his letter.
@72-73 Why are you still sticking with Obama? Sarah Palin hasn’t tried to ax my comp. Plus mooseburgers beat Ramen Noodles any day.
I kind of doubt Waxman is worried about redistricting in west LA. Please tell me more about how the GSEs caused this entire mess.
waxman is such an imbecile. he has no clue how any bank works. he quotes articles from fucking Time magazine and expects the heads of banks to respond to his sorry ass. we’re all shakin in our boots.
i hate politicians. every last one of them.
If you get a bonus that is all good, the government should tax it at 99% just to get the money to circulate faster. Sarcasm is so funny.
The goose that has laid the golden egg is already dead, now were just talking when you get laid off from here to new years.
I dont work on wall street, but do project work and now all my projects are getting canceled left and right due to all your fucking screwed up financing. I am really pissed and waiting for the layoff same as you.
The more you bitch and whine, the more it will become clear that all you have to look forward to at christmas is coal in your stocking.
@78 amen, brother. Pass the mooseburger
@79 punctuation is your friend. This is why you do project work. How do you expect to be taken seriously when you can’t even put together a coherent thought? If you had half a brain you would realize that the integration work coming out from failures, TARP and mergers will keep even lame-o contractors like you paid for years.
I may lose my job, but I know that no matter what, even if it means retail at B&N, that I will not kvetch. I’ll get my laid-off ass out there and make it happen, whatever IT may be.
Christ, I hate whiners. And my amex bill was only 4 large.
He’s grandstanding – he has no legal authority to demand this information of private corporations, and no bank with a legal team worthy of the name would bother to respond (“Sorry, Congressman, we choose not to deplete taxpayer capital with a response to illegal demands of overreaching, self-aggrandizing legislator-turds.”)
no bonuses….next
Personally, I can’t wait for most of Wall Street to take it in the keister. Strictly speaking the vast majority of you do nothing of value and certainly nothing to merit the pay packages you’re all whining about in a such a pathetically self-serving manner. Talk about a false sense of entitlement.
The bottom line is that if you have to be bailed out like a bank, then you’re gonna get regulated like a bank and in the end you’re going to get paid like commercial banker.
If you’re some sort of star maybe you’ll be able to strike out on your own, but you’re going to be sharply circumscribed in your access to capital and more importantly to leverage. Go ahead, move to the Shanghai exchange, but these rules are going to be global, part of the new Bretton Woods.
Basically, the party’s over. Finance is going to become a regulated utility, more or less efficiently delivering and allocating capital the same way ConEd does power. You’ll still make more money than you deserve, but not Schwartzman money. Boo hoo. I guess you’re going to have to find a new highway to extract your monopoly tariffs from, I hear the New Jersey Turnpike pays well.
With any luck the trial lawyers will be neutered as well and people who are truly committed to becoming rich are going to have to actually create tangible value by starting a company that does something. I think that we’d do much better as a country if more of the very smart people I went to college with had gone into engineering or science instead of finance or law.
My own compensation is due for a hit when Obama nationalizes health care. But unlike you people I do my job because I love it and I think it’s intrinsically worthwhile. Ultimately the money is just a bonus, but then again, I’m a surgeon not a Wall Street whore.
@82 – as far as you and Waxman will ever know, there are none, little one. Go play with your 18-month CDs.
What’s wrong, Doc? Hedge fund investments bleeding out? Your nest egg DOA? Somebody mess you up? Well thank god you can still overcharge the sick and overprescribe the healthy. Hypocritical parasite.
Got to me honest with you #83. I saw how long your post was and skipped down to 84. That’s when the last word in your post caught my eye. Mmmmmmm whores. Plastic surgeon specializing in titties? I could never do that unless I had crotchless scrubs. That way my big dirty junk could hang out as I touch those titties. Installment plan bitches, sticky fitties.
SPODE
WTF is up with Waxman’s nose? It’s disgusting looking all up into his brains an’ shit.
Yeeeesh !
Maybe #83 could get all up in there and fix his stuff. Assuming he has BCBS or some other such accomdating plan to cover his “deviated septum”.
@64 I think you meant “Who is John Galt”
Phrase of the day: “unsafe and unsound banking practice”
Anyone notice the collapse of non agency mortgage bonds in the past 3 weeks?
Basically most of the big financial institutions are insolvent.
Hank has blown his initial load merely off setting the losses the banks have taken in the past 16 months. The losses have been about $880B to date. Banks raised about $550B. Hank gave them the rest.
So if losses really are going to reach $1.5 to $2 trillion where is the next $750B to $1.25T going to come from?
Waxman is an ass, there is no doubt about it. But this issue is low hanging fruit in the political world.
The problem is when you look at the macro picture of any given bank, absent taxpayer infusions, they are insolvent. Absolutely there are major profit centers within these banks but insolvent banks should not be paying out large bonus’s or dividends until they are profitable again.
IMHO the real producers are going to leave anyway. They are going to create their own private shops. So they don’t have to deal with the new regulatory enviroment and so they can eat what they kill.
Please explain this:
I can understand why certain top producers deserve to be paid top $, because they are truly irreplaceable and produce real value for the company.
However, how is it justified to continue paying obscene amounts to rank and file associates or VPs, who are essentially just supporting the top guns. If the firms are on the brink of collapse, I find it hard to believe that the rank and file really have the leverage to be demanding normal bonuses. If the firms are desperately starved for capital, paying top dollar for rank and file employees constitutes plunder. The attitude is to first pay everyone well, and then worry about shareholders and the firm’s survial. If a firm is begging for government bailout money, while refusing to dip into the large bonus pool, that is plunder. I am not sure though if it is merely unethical plunder, or the illegal kind.
I can’t read this site seriously anymore. Bess/Carney – can you please do something about the comments? Since when did this become a mainstream, dumbed-down version of the NYTimes?
@93- “Since when did this become a mainstream, dumbed-down version of the NYTimes?”
that’s the comments, not the commentary.
@53
Go ahead and go “John Galt.” The banks will fill their ranks with graduates from SE Directional State College, any of whom can bind a pitchbook or do an excel model as well as you can.
BOHICA
@23/52 why the hell do you post? just don’t, you add no value, here or anywhere
@83
I’ve seen physicians infect patients with hepatitis C just to save $0.50 by reusing a needle. I’m diagnosing you with a nasty case of Wall Street cock-envy. Thought you were so smart going to med school to get rich. 8 years and $250K debt later, you’re rocking $150K a year and re-using $0.50 syringes. Bend over brother, I’ve got an injection that will cure you of your condition.
@83
Surgeons are a special breed. 150K US cases of leg amputation annually (critical limb ischemia) despite the Lacie study showing 91% of those patients should have kept their leg. Why? Surgeons like you are too busy making $$$ per procedure to read the literature and get trained. You disgust me.
@93 did you spend the last 3 months under a rock? Carney is gone, see clusterstock
Oh well. This is bull, but at least Handsome Hank and his mob ain’t near me.
And damn, if this stuff is so easy and requires no special talent – as so many posts state – why didn’t everybody just do it? The pay ain’t bad, and I know you’re not ALL too busy working 12 hr. shifts in soup kitchens.
Could it be that people have no idea what they’re talking about?
Like when they say they already helped 400k people avoid foreclosure with the H4H program, but the truth is it’s only and incredible 79 nationwide so far?
http://tinyurl.com/58kwxc
Why is anyone even considering giving those crooks more money – we should be confiscating their assets to pay for the bailout!
@100
Anyone can do the job, but getting the job is difficult.
It’s kind of like anyone reasonably smart and mature can be a night manager in a hotel or a police officer, but more employers are demanding college degrees for that.
Credential inflation.
@100
Anyone can do the job, but getting the job is difficult.
It’s kind of like anyone reasonably smart and mature can be a night manager in a hotel or a police officer, but more employers are demanding college degrees for that.
Credential inflation.
Waxman is a stupid, unpleasant looking moron, and that’s being charitable.
102/103
Oh, hell man – getting the job you want is almost never easy. If you’re going to let that hold you back then it’s a pretty good bet your temprament is not ideally suited to this business.
And if your credentials/track record are scanty, well, you can look forward to starting a little smaller and establishing yourself. If you have a talent for whatever it is you’re trying to do in finance, the truth will out. Nothing wrong with that, seen it done many times.
@105:
Again, you are missing the point. The point was, if the current crop of Wall Streeters leaves (“Goes John Galt” was how it was phrased), they can be replaced but Directional State grads and almost no one will notice.
Mate, your photographs are wonderful but you absolutely need much more content material. Check out a number of of the Writing Essays self-employed freelance writers on elance or freelancer.com there are many offers.