nytimes.com - 4/26/2009
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The rest of the nation may be getting back to basics, but on Wall Street, paychecks still come with a golden promise. Workers at the largest financial institutions are on track to earn as much money this year as they did before the financial crisis began, because of the strong start of the year ...
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Links 4/26/09
naked capitalism —
... Bloomberg Goldman's Hypocrisy Never Ends Independent Accountant Jumping The Shark In HY On Record Low Recoveries Tyler Durden Swine Flu Pandemic Would Cost Trillions Clusterstock. Perhaps as important, even if it doesn't rise to the level of a pandemic, it can still be plenty costly. Why is the Market Ignoring American Express' Bad Report? Greg Feirman. Amex is of interest as a window into the credit card market. After an Off Year, Wall Street Pay Is Bouncing Back New York Times The capital ...
Sunday morning links
The Mess That Greenspan Made —
TOP STORIES • Finance ministers encouraged but wary over economy - AP • Four banks closed by regulators, credit crunch shakes out - MarketWatch • Swine flu outbreak declared 'public health emergency' - LA Times • FACTBOX: Economic costs of a flu pandemic - Reuters • Spread of Bubonic Plague, 1347-1351 - Infectious Greed • After an Off Year, Wall Street Pay Is Bouncing Back - NY Times • Markets Cheer Stress Test Double Speak - Naked Capitalism • World Gold Council: Gold conspiracy would dwarf ...
Wall Street Pay: Falling Like a Pet Rock?
DealBook —
As Wall Street firms try to recover from the bursting of the credit bubble, many investment bankers are still smarting over the shrunken — or nonexistent — bonuses they got for 2008. Just a few months into 2009, there is evidence that Wall Street pay is bouncing back . Even so, some financial recruiters say bankers are entering a new era when it comes to compensation — one that might resemble the relatively lean ’70s, one recruiting professional tells Investment Dealers’ Digest. Many big-time bankers have already walked away from their jobs to do something else because of the ...
Stress Tests and The Nationalization We Got
The Baseline Scenario —
... As a result, the banks have largely preserved their existing management teams and bonus plans: on Wall Street, first-quarter accruals for bonuses returned to the levels of the glory years of 2006 and 2007. Creditors and counterparties have been kept whole, most notably through the AIG bailout. And shareholders have seen their share prices supported by the promise of sustained government support. The incentives we have ended up with are more similar to those of a nationalized system than those of a free market. Instead of state-owned coal mines run for the benefit of miners (the ...
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FT.com / Comment / Editorial - Not time to pause
ft.com 4/6/2009 — Japan is in economic freefall. Its reliance on foreign consumer demand means the country has been cut apart by the world recession. Its political leaders must be aggressive in pushing through measures required to kick-start growth and to move it away ...
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Big Pay Packages Return to Wall Street
hf-implode.com 7/2/2009 —
Business is back on Wall Street. If the good times continue to roll, lofty pay packages may be set for a comeback as well.
Based on analysts' earnings forecasts for 2009, Goldman Sachs Group Inc. is on track to pay out as much as $20 billion this year, or about $700,000 per employee. That ...
Why Bailout Wall Street?
canadiancapitalist.com 10/4/2008 — There is a lot of public anger on the $700 billion dollar bailout that is being proposed by the Bush Administration. The typical reaction is why bail out well-paid fat cats on Wall Street, who are responsible for the current mess anyway. While it is ...
Big Pay Packages Return to Wall Street
online.wsj.com 7/2/2009 — Business is back on Wall Street. If the good times continue to roll, lofty pay packages may be set for a comeback as well. Based on analysts' earnings forecasts for 2009, Goldman Sachs Group Inc. is on track to pay out as much as $20 billion this ...
The Bottom is For Real, But A Pause is Due
risingdividendinvesting.blogspot.com 6/7/2009 — The stock market has rallied sharply since the middle of March leaving a lot of bears wandering and wondering in the woods. The chart at the right shows that the Dow has rallied close to 2000 points, or nearly 30%, since the bottom on March 9. The ...
Looking at Wall Street Pay
ritholtz.com 8/2/2009 — “There’s a huge disconnect between what the average American worker receives in terms of compensation and some of what we’re hearing about on Wall Street. We do believe that when the taxpayer monies are invested that compensation should be ...
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