jaems

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  1. 1
    Posted 2008-06-20 12:55:01 on Merrill Slashes Outlook For Banks, Market Slashes Merrill With Write-Down Rumors

    These big league MBA's deserve a bit more credit. They knew that racking up big gains sourcing and securitizing debt would result in big bonuses in '03, '04, '05, '06, and even '07. Now a bunch get laid off in '08. But if you have 5 years of good bonuses on Wall Street, you can coast for a while. Not to mention, who really wants to work Wall Street hours for more than 5 years anyway. It's really all about incentives. Short-term incentives in this case, which are paid for taking long-term risks.