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Between the Hedges: Wednesday Watch
Rolfe Winkler: It’s good to be a banker
naked capitalism: Employed Taking Deeper Pay Cuts (Except on Wall Street, of Course)
Reactions
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RT: @seanr1978: The $140B in Wall Street pay & bonuses (http://bit.ly/knTHv) could have given 2.8M Americans $50K-a-year jobs. #epicfail 11/2/2009 |
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RT @johnpeake: Stopped counting nmbr of unemployed friends . Now Wall Street Execs set to receive RECORD comp. Really? http://bit.ly/Bmb2H 10/18/2009 |
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Stopped counting number of unemployed friends . Now Wall Street Execs set to receive RECORD compensation. Really? http://bit.ly/Bmb2H 10/18/2009 |
Wednesday Watch
Between the Hedges —
... , a move that reunites a veteran trading team and adds to an expanding field of startups. Ervin Shindell is starting a Chicago-based firm called RoundKeep Capital Advisors with investment managers Joseph Rotter, Robert Doherty and Robert Donath, each of whom spent between five and 10 years at Citadel, according to a marketing document for the new firm reviewed by The Wall Street Journal. - Major U.S. banks and securities firms are on pace to pay their employees about $140 billion this year -- a record high that shows compensation is rebounding despite regulatory scrutiny of Wall ...
It’s good to be a banker
Rolfe Winkler —
From WSJ: Wall Street on track to award record pay
Major U.S. banks and securities firms are on pace to pay their employees about $140 billion this year — a record high that shows compensation is rebounding despite regulatory scrutiny of Wall Street’s pay culture.
Workers at 23 top investment banks, hedge funds, asset managers and stock and commodities exchanges can expect to earn even more than they did in 2007, according to an analysis of securities filings for the first half of 2009 and revenue estimates through year end by The Wall ...
Employed Taking Deeper Pay Cuts (Except on Wall Street, of Course)
naked capitalism —
... Contrast that New York Times story with the lead item at the Wall Street Journal, “Wall Street on Track to Award Record Pay“: ...
Wall Street rewind and the coming bout of ’squid’ outrage
FT Alphaville —
Perhaps it has all been just a bad dream. Quicker than you can say “global financial crisis” or “blood on the street”, the big US banks and securities firms have shifted gears and are now preparing to pay their staff a record $140bn in compensation this year. The figure exceeds even the rewards of 2007, according to the Wall Street Journal, which reports on Wednesday that compensation is rebounding at a robust rate as Wall Street returns rapidly to pre-crisis revenue levels - despite the dramas and scrutiny surrounding Wall Street’s pay culture. The Journal cites an analysis ...
Opening Bell: 10.14.09
Dealbreaker —
... Banking. However, credit costs remain high and are expected to stay elevated for the foreseeable future in the Consumer Lending and Card Services loan portfolios. Accordingly, we have added $2.0 billion to our consumer credit reserves, bringing the firmwide total to $31.5 billion, or 5.3%1 of total loans. Tier 1 Common Capital, another key element of our fortress balance sheet, was also strengthened through capital generation during the quarter, to $101 billion, or 8.2%."
Wall Street On Track To Award Record Pay (WSJ)
An estimated $143,400 ...
Wednesday links: momentum effects
Abnormal Returns —
... “Much handwringing” about record-breaking Wall Street bonuses. (WSJ also ...
Can $140 Billion Heal the Pain of a Serious Upbraiding?
Capital Gains and Games —
... Last week, the Wall Street Journal reported that "[m]ajor U.S. banks and securities firms are on pace to pay their employees about $140 billion this year." Referring to their appearances on yesterday's talk shows, the Washington Post ...
