bloomberg.com — Shareholders in the securities industry are having their worst year since 2002, losing $74 billion of their equity. That won't prevent Wall Street from paying record bonuses, totaling almost $38 billion. Little has been reported about Wall Street having their bets covered in both up and down markets: The market is contrived so they win regardless.
Nov 19, 2007 View in Crawl 4
demicritterNov 19, 2007Submitter
The next time you hear that the "Market is waiting to hear Job growth numbers" that the "house" wins regardless of the outcome and the investors get shafted.
burnteesNov 19, 2007
so...do you take a job at one of these places making a ton of money but working insane hours? or do you work somewhere else, making average money but have a life? currently i'm doing the latter, but that bonus sounds nice...time to switch?
Closed AccountNov 19, 2007
Depends if it matters to you to be part of an industry that harms America.If greed is your motivating factor, by all means good luck to you.
Closed AccountNov 20, 2007
Part of an industry that harms America, eh? You know, they don't have investment banking in Pyongyang or Havana. Maybe you should go live there and see how you like the lack of i-banking. Where do you think they'll spend those bonus checks, buddy? Right here, fueling the economy. Or, they'll invest them. Either way, it's win-win. I don't begrudge anyone's success. If they can pull off those numbers, good for them.