4 ms·

“ It has, however, increased salaries.” These guys can’t lose. They either win or win big time even while running their company into the ground. Time for some

“ It has, however, increased salaries.” These guys can’t lose. They either win or win big time even while running their company into the ground. Time for some government bailouts so they can go on a luxury retreat like AIG execs did in 2008.

alyandon 4y ago
Yeah, .gov to the rescue. I am still kicking myself to this day I didn't throw money into AIG when it was trading around $1-2 per share. I did make out decently off BoA stock in the same time period though.
- yamtaddle 4y ago
  I bought a little at the low (but didn't have much money to play with at the time, so we're talking extremely small potatoes all around) but also put quite a bit (relatively) into Freddie, reckoning they'd also pop back plenty fast with government intervention. Whoops.
huntertwo 4y ago
Most of their compensation does not come from salaries - especially at the exec level. Nor is Credit Suisse going down going to affect normal people or the greater economy. This is not a win for execs, this is a way to placate employees despite half their bonuses disappearing.
- GalenErso 4y ago
  > Nor is Credit Suisse going down going to affect normal people or the greater economy. Really? They have 50,000 employees and two million clients.
  - adventured 4y ago
    The global economy will barely blink at that, so long as what's taking Credit Suisse down isn't a more widespread issue (and it doesn't appear to be). Most of those clients will simply move to another bank as needed, there are better alternatives.
    - pixl97 4y ago
      The real question is, is how widespread is the problem. 2008 taught us there is no bottom to worse.
- olliej 4y ago
  Large financial institutions have failed in the past, and history has shown us that the people at the top usually land on their feet, with piles of money and assets. Whereas everyone then finds out their employer lost their retirement fund, and has to sell their homes, etc. So I think people are reasonably concerned about how a bunch of execs screwing up if going impact that non-millionaires.
sharkweek 4y ago
“I’ve been at this bank for 10 years and I’ve seen some things you wouldn’t believe. But when all is said and done these guys do not lose money. They don’t care if everyone else does but they don’t lose.” https://youtu.be/xW1CrQu_H6E https://youtu.be/xW1CrQu_H6E
curiousgal 4y ago
I hate this simplistic attitude so much. Okay how do you expect the bank to "pull itself by the bootstraps" and not rely on a govermnet bailout? Do you expect bright employees to stay on board or flock in and fix things out of the kindness of their hearts? They have to pay people to keep things from getting worse. And yes they could get worse.
- themitigating 4y ago
  To continue along these lines- If the bank fails everyone looses their jobs. Rich executives will be fine and as it goes down the line the negative impact gets worse. If the government bails out the bank it's saving some jobs and is it possible to make some of that investment back?
  - deleted 4y ago
    [deleted]
  - rqtwteye 4y ago
    I find unacceptable to have institutions that are highly profitable in good times and force the taxpayer to bail them out when they overplayed their hand. They should be treated like any other company. Either go bankrupt or be bought by somebody else. Anything else is a recipe for massive corruption.

alyandon 4y ago

Yeah, .gov to the rescue. I am still kicking myself to this day I didn't throw money into AIG when it was trading around $1-2 per share. I did make out decently off BoA stock in the same time period though.

yamtaddle 4y ago
I bought a little at the low (but didn't have much money to play with at the time, so we're talking extremely small potatoes all around) but also put quite a bit (relatively) into Freddie, reckoning they'd also pop back plenty fast with government intervention. Whoops.

huntertwo 4y ago

Most of their compensation does not come from salaries - especially at the exec level. Nor is Credit Suisse going down going to affect normal people or the greater economy. This is not a win for execs, this is a way to placate employees despite half their bonuses disappearing.

GalenErso 4y ago
> Nor is Credit Suisse going down going to affect normal people or the greater economy. Really? They have 50,000 employees and two million clients.
- adventured 4y ago
  The global economy will barely blink at that, so long as what's taking Credit Suisse down isn't a more widespread issue (and it doesn't appear to be). Most of those clients will simply move to another bank as needed, there are better alternatives.
  - pixl97 4y ago
    The real question is, is how widespread is the problem. 2008 taught us there is no bottom to worse.
olliej 4y ago
Large financial institutions have failed in the past, and history has shown us that the people at the top usually land on their feet, with piles of money and assets. Whereas everyone then finds out their employer lost their retirement fund, and has to sell their homes, etc. So I think people are reasonably concerned about how a bunch of execs screwing up if going impact that non-millionaires.

sharkweek 4y ago

“I’ve been at this bank for 10 years and I’ve seen some things you wouldn’t believe. But when all is said and done these guys do not lose money. They don’t care if everyone else does but they don’t lose.” https://youtu.be/xW1CrQu_H6E https://youtu.be/xW1CrQu_H6E

curiousgal 4y ago

I hate this simplistic attitude so much. Okay how do you expect the bank to "pull itself by the bootstraps" and not rely on a govermnet bailout? Do you expect bright employees to stay on board or flock in and fix things out of the kindness of their hearts? They have to pay people to keep things from getting worse. And yes they could get worse.

themitigating 4y ago
To continue along these lines- If the bank fails everyone looses their jobs. Rich executives will be fine and as it goes down the line the negative impact gets worse. If the government bails out the bank it's saving some jobs and is it possible to make some of that investment back?
- deleted 4y ago
  [deleted]
- rqtwteye 4y ago
  I find unacceptable to have institutions that are highly profitable in good times and force the taxpayer to bail them out when they overplayed their hand. They should be treated like any other company. Either go bankrupt or be bought by somebody else. Anything else is a recipe for massive corruption.