tag:blogger.com,1999:blog-5724181159639068489.post941294812108905671..comments2023-11-05T05:09:14.089-05:00Comments on Goldman Sachs: Information, Comments, Opinions and Facts: Goldman Sachs and other banks pay out more in bonuses then they earnRobertMhttp://www.blogger.com/profile/03960912417983904202noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5724181159639068489.post-4014732588428897272009-08-04T22:55:36.209-04:002009-08-04T22:55:36.209-04:00Earnings: A company's profits after paying all...Earnings: A company's profits after paying all expenses, but before paying dividends.<br /><br />Earnings are calculated after employee compensation. That is how they pay out more in compensation than they report in earnings.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-39885874802816329822009-08-04T08:06:26.677-04:002009-08-04T08:06:26.677-04:00You are correct, in my opinion, and wrong: we are...You are correct, in my opinion, and wrong: we are witnessing the most massive fraud.... in history...?<br /><br />We do need new legislation. We need to prohibit commissions and bonuses. The banking industry needs to be compensated like teachers and priests. Instead of a sacred trust, we will always be scammed -- in new ways -- by the people who populate the industry today. We attract the wrong mentality: the greedy, looking for an edge to make more money for themselves. They are completely unconcerned about client funds, the good of society, creating value, etc. etc.<br /><br />We can never put enough bandaids on the problem to circumvent the ingenuity of the devious minds we are dealing with today.<br /><br />There are plenty of smart talented *good* people who might nurture this industry, sans the greed mentality.<br /><br />Jane Jacobs' little known book, "Systems for Survival" discusses the mentalities we need for different professions. <br /><br />We need to re-impose Glass-Stegall and rescind G-L-B. We need to audit the fed. We need to sweep Congress clean, top to bottom.<br /><br />The corruption is deep and the changes needed are fundamental: no commissions, no bonuses. Straight salary. How many little old ladies have been scammed out of savings by fast talking brokers -- "invest for the long haul" wink, wink -- only to boost his own paycheck with no interest, understand or *sense of responsibility* that, one day, she would need the money upon which to live?<br /><br />99 per cent of them...? smile. Higher?Beautiful Lady in Rednoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-84463446765809866622009-08-04T07:58:13.302-04:002009-08-04T07:58:13.302-04:00You are correct, in my opinion, and wrong: we are...You are correct, in my opinion, and wrong: we are witnessing the most massive fraud.... in history...?<br /><br />We do need new legislation. We need to prohibit commissions and bonuses. The banking industry needs to be compensated like teachers and priests. Instead of a sacred trust, we will always be scammed -- in new ways -- by the people who populate the industry today. We attract the wrong mentality: the greedy, looking for an edge to make more money for themselves. They are completely unconcerned about client funds, the good of society, creating value, etc. etc.<br /><br />We can never put enough bandaids on the problem to circumvent the ingenuity of the devious minds we are dealing with today.<br /><br />There are plenty of smart talented *good* people who might nurture this industry, sans the greed mentality.<br /><br />Jane Jacobs' little known book, "Systems for Survival" discusses the mentalities we need for different professions. <br /><br />We need to re-impose Glass-Stegall and rescind G-L-B. We need to audit the fed. We need to sweep Congress clean, top to bottom.<br /><br />The corruption is deep and the changes needed are fundamental: no commissions, no bonuses. Straight salary. How many little old ladies have been scammed out of savings by fast talking brokers -- "invest for the long haul" wink, wink -- only to boost his own paycheck with no interest, understand or *sense of responsibility* that, one day, she would need the money upon which to live?<br /><br />99 per cent of them...? smile. Higher?Beautiful Lady in Rednoreply@blogger.comtag:blogger.com,1999:blog-5724181159639068489.post-74862043453411969272009-08-03T22:13:50.007-04:002009-08-03T22:13:50.007-04:00I don't know why the focus should be solely on...I don't know why the focus should be solely on the financial industry. Regardless of industries, almost no CEO is worth even $20-30million per year in salary and bonus, let alone $200-300million some have managed to collect.<br /><br />When a company succeeds thanks in part of the CEO's long term visions and executions (and not cost cutting measure), the bonus should be shared by a larger number of people, and more should trickle down.<br /><br />Over the years, we have been brainwashed into believing that executives deserve their outrageous payouts, and that such princely sums are needed to "attract talents". And they've done a mighty good job, because now we have even poor people and republican populations agreeing with this, and effectively speaking out against their own interests! Unfortunately, this fear mongering is nothing more than a racketeering.Anonymousnoreply@blogger.com