3 ms·
1. The Wall Street bonus culture led to the financial crisis. "The crisis was caused by a combination of lax monetary policy, loose regulation..., ... instituti
by jfoutz 17y ago
1. The Wall Street bonus culture led to the financial crisis.
"The crisis was caused by a combination of lax monetary policy, loose regulation..., ... institutional investors ... global banking industry..."
Aside from lax monetary policy, these causes are only exacerbated by huge bonuses.
2. Wall Street is totally indifferent to Main Street.
Yeah... looking down main street I don't see a lot of large corporations or financial institutions ready to trade. Swing by BofA and pick up a small business loan. Not that they should be. and investor's job is to find the best possible deal. maybe it's no main street, maybe not. but technically you ought to be indifferent if you're good at investing.
3. With the job market like it is, Wall Street doesn't need to pay huge bonuses to retain key people.
If you can't figure out what <key person> does to make all that money, you are not smart enough to keep that money. Since you are not smart enough, why don't the taxpayers just fund <key person> instead? What are you bringing to the table? phones and bloomberg terminals?
4. Wall Street will never restrict its own pay.
Yes, clearly with all the laws and contracts requiring it, wall street will restrict its own pay.
5. Wall Street pay is so out of line, only the government can fix it.
The first goddamn argument was "lax regulation" WTF?