Good day for the Goldmanites and Dimonites of the world. Following Obama's acknowledgement that the whole banker-hatin' was just a joke, Dick Bove has issued a report noting that the thing Obama said about bankers and ball players and pay? He's said it for years.
I have constantly pointed out that one can make more money playing third base for the New York Yankees or being a shooting guard with the Los Angeles Lakers than one can get paid for running a financial company with hundreds of thousands of employees.
Also, Dick would like to point out that that place formerly known as Wall Street? Doesn't exist. And "bankers?" If you push them a bit more, they'll soon be on the endangered species list, just between the abdulali's wrinkled frog and the blue-winged macaw. Keeping pushing them and they'll leave to shoot hoops.
The brouhaha about pay on "Wall Street," that mythical place that does not even exist anymore, is yet another way that the industry will be harmed executives are attracted to industries that pay more and are not being criticized for doing so.