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Confirmed: Goldman Sachs (GS) Workers Could Make $700,000 Each
24/7 Wall St. — ... Goldman Sachs (GS) recently said that media reports that its employees would make huge sums based on the firm’s 2009 earnings were not true. It turns out that they probably are. In an article in The Wall Street Journal, the paper says Goldman “is on track to pay out as much as $20 billion this year, or about $700,000 per employee.” Goldman is just asking for trouble. Somewhere along the line, large banks which plan to pay their employees richly this year and, in some cases, offer tremendous compensation packages to retain top talent must have missed the Congressional and ...

Are Big Payouts Set for Revival on Wall Street?
DealBook — ... too soon to tell if the strong results from securities firms in the first and second quarters will translate into huge paychecks at the end of the year. “All this euphoria about bonuses is based on the expectation that the business is returning to normal and that we will be in a robust environment again” Russ Gerson, who runs an executive-recruiting firm, told The Journal. “If the fourth quarter is significantly down, I would expect bonuses not to recover too much from 2008 levels.” Go to Article from The Wall Street Journal »

Thanks for the bailout; here’s your lovely parting gift, Mr. & Ms. Taxpayer
The Big Picture — ... The WSJ: Wall Street Pay Approaches 2007’s Records Will Ben, Hank, Little Timmy and Congressional leaders explain to the American people how it is possible for Wall Street to have near record remuneration AFTER the US taxpayers were put on the hook for about $12 trillion of guarantees to The Street? And will they explain to Americans that while Street insiders ‘earn’ record pay they must suffer a severe recession or depression, possibly record future inflation, collapsing home values, job losses and an income contraction? ...

Opening Bell: 07.02.09
Dealbreaker — Big Pay Packages Return To Wall Street (WSJ) Viva La 2007! "Goldman Sachs Group Inc. is on track to pay out as much as $20 billion this year, or about $700,000 per employee. That would be nearly double the firm's $363,000 average last year, and slightly higher than the $661,000 for the average Goldman employee in fiscal 2007, according to analyst estimates reviewed by The Wall Street Journal." Merrill exec sounds bullish on future of BofA merger (Charlotte Observer) Dan Sontag looks on the bright side re: Bank of Amerillwide. The future ...

Will They Explain?
Bear Mountain Bull — ... : The WSJ: Wall Street Pay Approaches 2007’s Records Will Ben, Hank, Little Timmy and Congressional leaders explain to the American people how it is possible for Wall Street to have near record remuneration AFTER the US taxpayers were put on the hook for about $12 trillion of guarantees to The Street? And will they explain to Americans that while Street insiders ‘earn’ record pay they must suffer a severe recession or depression, possibly record future inflation, collapsing home values, job losses and an income contraction?— More from Zero Hedge on Government Sachs: ...

King Report: Thanks for the bailout; here’s your lovely parting gift
The Big Picture — > The WSJ: Wall Street Pay Approaches 2007’s Records Will Ben, Hank, Little Timmy and Congressional leaders explain to the American people how it is possible for Wall Street to have near record remuneration AFTER the US taxpayers were put on the hook for about $12 trillion of guarantees to The Street? And will they explain to Americans that while Street insiders ‘earn’ record pay they must suffer a severe recession or depression, possibly record future inflation, collapsing home values, job losses and an income contraction? Zero Hedge: NYSE Halts Transparency, Feels Goldman Program Trading ...

Afternoon Links (July 2, 2009)
The Daily Bail — Big Government and the 4th of July A Declaration of Independence from Big Government  (history lesson) Congress Continues Abusing the Public Purse SEC Staffer Warned About Madoff But Was Ignored Morgan Stanley Likely to Post Loss from Taking Less Risk Golfer Vijay Singh Finally Stops Wearing Stanford Financial Logo Big Pay Packages Are Back on Wall Street Treasury to Announce 9 Managers for Toxic PPIP Plan Justin Fox on The ...

Further reading
FT Alphaville — Principal content Further reading Posted by Gwen Robinson on Jul 03 08:11. Elsewhere on Friday, - So much for those ‘green shoots’ - How to read US employment figures - Smells like deflation - How AIG FP brought down the world - Statistics and basketball for beginners - The return of big pay packages - 83 stocks that doubled your money - Bill Gross: ‘bon’ or ‘non appetit’? - Raging bulls in Buenos Aires - Taibbi goes on air - The dumbest moments in business - Further, further reading ...

Outrage reduced to Outrageous
Lawrance G. Lux — William Buiter effectively explains, though a little long-winded, why the central banks are playing to an empty house. No economic ploy like quantitative easing, credit-easing, or enhanced credit will work without two conditions being served–both concurrently: 1) the lending institutions must make a higher Profit from the easing–at least the promise of higher Profit; and 2) the lending institutions must have the confidence to lend without extreme Charges or Conditions on the Applicant. The two factors work against each other in practice. Doubt has been introduced into the Collection process of lending. The higher Profits insist on the full Return of ...

Words from the (investment) wise July 5, 2009
The Big Picture — ... , and is related to Wall Street pay approaching 2007’s record levels, as reported by The Wall Street Journal. King remarked: “Will Ben, Hank, Little Timmy and Congressional leaders explain to the American people how it is possible for Wall Street to have near-record remuneration AFTER the US taxpayers were put on the hook for about $12 trillion of guarantees to The Street? And will they explain to Americans that while Street insiders ‘earn’ record pay they must suffer a severe recession or depression, possibly record future inflation, collapsing home ...

Prieur Perspective: Markets Trapped on Roller-Coaster
Minyanville — ... ) (-6.8%), iShares Silver Trust (DLV) (-3.9%), and PowerShares DB Commodity (DBC) ( 3.7%). The quote du jour this week comes from Bill King, writer of The King Report, and is related to Wall Street pay approaching 2007 s record levels, as reported by the Wall Street Journal . Bill King remarked: Will Ben, Hank, Little Timmy, and Congressional leaders explain to the American people how it is possible for Wall Street to have near-record remuneration AFTER the US taxpayers were put on the hook for about $12 trillion of guarantees to The Street? And will they explain to ...

Goldman Sach's doubles bonuses?
Angry Bear — ... After looking at Spencer's charts on job loss for the month, and the decrease in hours worked in a week I felt bad. However,the WSJ announces that: ...