{"id":192942,"date":"2009-02-02T21:49:00","date_gmt":"2009-02-03T02:49:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/02\/02\/not-enough-bullets-cant-live-on-150-to-180000-edition\/"},"modified":"2009-02-02T21:49:00","modified_gmt":"2009-02-03T02:49:00","slug":"not-enough-bullets-cant-live-on-150-to-180000-edition","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2009\/02\/02\/not-enough-bullets-cant-live-on-150-to-180000-edition\/","title":{"rendered":"Not Enough Bullets: Can\u2019t Live on $150 to $180,000 Edition"},"content":{"rendered":"<p>It appears that <a href=\"http:\/\/www.nytimes.com\/2009\/01\/31\/business\/31bonus.html?partner=rss&amp;emc=rss&amp;pagewanted=all%22\">for investment banking types an outrageous salary is not enough<\/a>.<\/p>\n<p>They also need bonuses.  Bonuses whether their company makes money or not.  Whether their company is on the bederal dole or not.<\/p>\n<p>It&#8217;s because&#8230;.It&#8217;s because&#8230;.I don&#8217;t know why, but the rules don&#8217;t apply to them.<\/p>\n<p>BTW, the last paragraph of the story is the killer:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>\u201cWithout a doubt, $18 billion is a lot of money, but it\u2019s a drop in the bucket on Wall Street,\u201d said Gustavo Dolfino, president of the WhiteRock Group, a headhunter for the banks. \u201cThese bonuses are down, and the salaries are not enough for these people. They can\u2019t live on $150 to $180,000, so they haven\u2019t saved any money. They put it on credit lines and at bonus time, they thought they\u2019d pay it off.<\/p><\/blockquote>\n<p>Median family income is $49K\/year, and they cannot live on <span style=\"font-weight: bold;\">three times<\/span> that.<\/p>\n<p><a href=\"http:\/\/40yrs.blogspot.com\/2008\/10\/so-long-and-thanks-for-all-fish.html\">Andred Lahde got it right<\/a> when he called them, &#8220;<span style=\"font-style: italic;\">The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government.<\/span>&#8220;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>It appears that for investment banking types an outrageous salary is not enough. They also need bonuses. Bonuses whether their company makes money or not. Whether their company is on the bederal dole or not. It&#8217;s because&#8230;.It&#8217;s because&#8230;.I don&#8217;t know why, but the rules don&#8217;t apply to them. BTW, the last paragraph of the story &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,1004],"tags":[],"class_list":["post-192942","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192942"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=192942"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/192942\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=192942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=192942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=192942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}