Pandit Says $100 Million Pay Is Too Much For Banker (WSJ)
Andrew Hall shot down! His name wasn't actually uttered but Vikram did tell the audience at the 92nd Street Y last night that the bonus number requested by everyone's favorite castle-dwelling Phibro trader is "excessive" and probably gave a knowing wink after that.
Financier Pang Allegedly Had Drugs In His System At Death (WSJ)
Some barbiturates and a little pot to (really) take the edge off things. David Schindler, the lawyer who represented Danny "I want you to know this is a Ponzi scheme" Pang maintains his former client had a heart attack and is "offended" by any suggestions of suicide so don't even go there.
Wall Street On Notice (NYP)
"We need to find ways to bring down that trading-friction cost, we need to make sure we're not being taken advantage of," Larry Fink said on BloombergTV. "Hopefully our counterparties, our dealers, will make less money from us and our clients are going to make more return."
SEC Rules Take Aim At Credit Rating Agencies (Reuters)
Scaring the absolute shit out of those in the cow tipping business.
Bankers Face Sweeping Curbs On Pay (WSJ)
The Fed may get involved in the biggest banks' compensations decisions, reviewing packages, pushing for clawbacks, and "demanding more pay be offered through restricted stock to punish employees for taking excessive risks with their firms' money."
Swiss Bankers Back a Broad Withholding of Taxes (NYT)
That way they could just put an official end to all this crazy secrecy, which you should know is exhausting. Everybody wins.
Posted by guest , Sep 18, 2009 7:50AM
UBS Sucks
Posted by guest , Sep 18, 2009 7:51AM
I guess the $800 mil for the bandits piece of junk doesn't count?
Posted by guest , Sep 18, 2009 7:52AM
fuck you vikula. FUCK YOUUUUUU.
-andrew c hall
Posted by guest , Sep 18, 2009 7:54AM
@2 excuse you, that wasn't just my pay, you were getting a whole BUSINESS.
-vp
Posted by guest , Sep 18, 2009 8:11AM
so what are the chances the gov't meddling in pay only hurts the avg joes that work for the big banks and the big boys move to places where they will continue to get paid?
Posted by The coyote that stole Jessica Simpsons dog , Sep 18, 2009 8:14AM
I can't wait for Greg's first post. How about you?
Posted by guest , Sep 18, 2009 8:20AM
Greggums
are you by any chance wearing one of my diapers?
Love
-mum
Posted by InfiniteGuest , Sep 18, 2009 8:21AM
@5 what are the chances that all this government chatter about compensation makes any meaningful difference at all?
Posted by guest , Sep 18, 2009 8:21AM
Currently there's no shortage of tales of restricted stock that became worthless or is worth a fraction of it's former value. There's lots of crying now already, but that didn't stop the debacle in the first place. Can you imagine the Clawback Commission? Does the board vote to clawback and then the employee appeal? Who has the burden of proving that the company had subpar performance, or that the employee took too much risk, or that the risk taken caused the underperformance?
Posted by guest , Sep 18, 2009 8:24AM
I was at that YMCA last night. Saw Vik in the communal showers, and let me tell you that pene is not egg shaped.
Posted by InfiniteGuest , Sep 18, 2009 8:27AM
@9, simple: if you were taxed on it, then it was all good.
Posted by should we require the water jug to have no holes? , Sep 18, 2009 8:28AM
that you need to ponder whether asking the rating agencies to be held to the higher standard of expert because it might be tougher on them is what is wrong with the whole enchilada. if they are rating products, they should be required to have expertise. this seems obvious. but another example of not wanting to tip the apple cart, because it may hurt the revolving dooor. (only it wouldn't)
Posted by guest , Sep 18, 2009 8:33AM
He looks so feral in that picture.
Posted by guest , Sep 18, 2009 8:33AM
he looks so regal in that pic
Posted by guest , Sep 18, 2009 8:40AM
He looks very fecal in the pic
Posted by guest , Sep 18, 2009 8:42AM
By the word requested does Vik mean legally obligated to pay. Otherwise my mortgage, taxes and co-pays are all excessive too.
Posted by guest , Sep 18, 2009 8:43AM
Let me assure you all, Citi will not be raining gold on Mr. Hall.
Contrarily though, our offer remains open for a golden shower.
- VP
Posted by guest , Sep 18, 2009 8:44AM
Don't trade with the big shops then Finkie
Posted by guest , Sep 18, 2009 8:54AM
@18. Word. Respeck.
Posted by The Beard , Sep 18, 2009 9:13AM
@5 & 8
Whats that? I will break your faces if you don't stop bad mouthing my plan children. I will control pay how I see fit, and if you pansies try to leave I will personally drag you back here by the scruff of your neck.
Posted by guest , Sep 18, 2009 9:26AM
Please Jesus - I beseech you. Let Greg get hit by a bus on his way to work this morning
Posted by Tax Chick , Sep 18, 2009 9:27AM
The irony is that there is already complaints that people are reaping bigger benefits from the restricted stock than they would have had they been paid cash because it was issued when the stock was low and is now worth way more... the result is that many of these "excessively paid" executives are reaping an even bigger windfall as a result of the government's involvement. I wish they would just get the fuck out of my head!
Posted by Becky Boot Fan , Sep 18, 2009 9:29AM
Is that a picture of the guy who sings "Calle Ocho"?
Posted by guest , Sep 18, 2009 9:37AM
i dont care how much he got paid, dude's still bald as a cucumber hahahahahaaha
Posted by guest , Sep 18, 2009 9:37AM
@21
I will gently take you by the back of the head, and lower you into my odiferous orifice where you will lap up my juices lovingly. Then I will choke you between my thighs until you apologize for saying these horrible things to my Greggums.
Love,
Greg's mom
Posted by prince , Sep 18, 2009 9:39AM
I'm in Iraq, flying missions over Bdad and it's always refreshing to come back to Dealbreaker(and Bess' twisted slant on everything:-). It makes reading the WSJ alot more interesting.
Thanks!
Posted by guest , Sep 18, 2009 9:44AM
Andrew Hall could by Vickle's life. Vickle better watch his step.
Posted by guest , Sep 18, 2009 9:45AM
Andrew Hall could buy Vickle's life. Vickle better watch his step.
Posted by guest , Sep 18, 2009 9:49AM
He looks so beagle
D.K.
Posted by guest , Sep 18, 2009 9:53AM
@5 - absolutely not more than 100%.
Posted by guest , Sep 18, 2009 9:53AM
@ Tax Chick
Thats what you get for taking off the tin foil hat.
ZH Zealot Fan Boy
Posted by guest , Sep 18, 2009 9:54AM
Who's left to to pay for all of Obama's programs? Oh wait, the Yankees still have a @#&*load of money - they'll save us all. BTW Jets are going to get their asses handed to them....again.
Posted by guest , Sep 18, 2009 10:03AM
"You made / make too much money" isn't an officially recognized cause of action, civil or criminal, in the U.S. I really wish people would stop trying to pretend that it is.
The Spitz: Hey Dick, Fuck you!
D. Grasso: Uh, no, how about Fuck YOU!!
Posted by Chazzy , Sep 18, 2009 10:06AM
Fink? I'd hit it.
Posted by guest , Sep 18, 2009 10:06AM
I started my own business for the same reasons that young Andrew might now start his own. Pincus and I ruled the world back then. I remember the Sun Oil people showing up in Nigeria to work an oil deal thinking they'd be dealing with a tribal person. Their smiles went away when they saw me and Pincus sitting across the table from them. Oh ha! We had fun back then, getting beautiful Teaxs girls to move to Zug and work for us. They became lonely thought for their former toolpusher boyfriends and left us fo those sunny Texas climes. Anyway, get ready for "Andrew Hall and Company".
Posted by guest , Sep 18, 2009 10:09AM
cow tippers, unite!
Posted by Investorcluzo , Sep 18, 2009 10:30AM
are we still talking about banker pay? that's so 2008....
and hey, what gives, it's 10:30 and we're still on opening bell? it's ok for me to come in the office at 10:15 wreaking of jameson, but c'mon db. time to get your $hit together!
Posted by guest , Sep 18, 2009 12:26PM
@32...your O-Line couldn't keep the Bills off Brady, Rex is going to bring the house...should be an interesting game either way.
- Bernard Pollard Fan Club