ST Alpha - "The NY Times pleads with the Obama administration: Wall Street executives *can't* live on $500,000/year! -- (link)" (Reading a Post)

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The NY Times pleads with the Obama administration: Wall Street executives can't live on $500,000/year! -- (link)

Posted by Mop (aka rburriel) Feb 10 '09, 12:52

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http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?_r=1 (www.nytimes.com)

Responses:

SITWAP! :) -- nm - Shaun Feb 10, 12:56
What I've been pondering: What if this forces them to default on their mortgages? - ty97 Feb 10, 12:53 16
- I thought the cap was for new hires, not existing CEOs -- nm - con_carne Feb 10, 12:59 1
  - That would take what little shred of sense the cap makes, and shred that shred. -- nm - TFox Feb 10, 13:03
- Not only that, but their discretionary, "silly" spending keeps a lot of people employed. -- nm - loosilu Feb 10, 12:55 12
  - And yet, I bet those people manage to live on a lot less than half a mil a year. -- nm - TaurusII Feb 10, 12:58 8
    - they'll have to when they lose their jobs. -- nm - loosilu Feb 10, 12:58 7
      - My question is, if they've mismanaged their companies so badly, why do these people still have jobs at all? -- nm - TaurusII Feb 10, 13:03 6
        
        Too ritzy to fail! -- nm - Reagen Feb 10, 13:06
        
        I'm not talking about the execs, I'm talking about the significant economy that their large salaries support. -- nm - loosilu Feb 10, 13:06 4
        
        Then why require them to work at all? They'd do less damage if we just gave them a couple of million a year. -- nm - TaurusII Feb 10, 13:12
        
        Does the government ever embark on wasteful spending in your eyes? - Loyola Feb 10, 13:11 2
        
        this isn't an outlay. this is cutting a stream of revenue. -- nm - loosilu Feb 10, 13:12 1
        
        It's an individual's outlay into the wider economy once he's received his wage packet that you seek to justify under the auspices that his spending of - Loyola Feb 10, 13:15
  - So does wars. What's your point? -- nm - Loyola Feb 10, 12:56 2
    - *speechless* -- nm - loosilu Feb 10, 12:57 1
      - Forgot my smiley face :) -- nm - Loyola Feb 10, 12:57
- I'm guessing they know someone at the bank that will let them slide. -- nm - Mop Feb 10, 12:53
Yeah...they're breaking - Jim Feb 10, 12:52 11
- *laughing* -- nm - Loyola Feb 10, 12:58
- I'm not crying for them, but the government mandated pay cap is stupid stupid stupid anyway -- nm - ty97 Feb 10, 12:55 3
  - If this is in regards to the money the government is bailing them out with...I'm all for a cap. - Jim Feb 10, 12:55 2
    - That's a great way to recruit people to actually fix the problems. - ty97 Feb 10, 13:01
    - oh crap. -- nm - Half of the Service Industry in Manhattan Feb 10, 12:56
- Maybe they can dig into their savings and spend some of those billions they were paid in past years? -- nm - Mop Feb 10, 12:53 5
  - Savings? What, like a bank account? Bah. Like THEY would trust banks. -- nm - Beryllium Feb 10, 12:54 3
    - Remember that the FDIC used to only insure $100,000. Those $2billion in savings just became a lot less! -- nm - Mop Feb 10, 12:56 2
      - if you put more than $100K in one bank account, you're a moron. -- nm - loosilu Feb 10, 12:59 1
        
        a *RICH* moron -- nm - rich moron si Feb 10, 13:07
  - Word. -- nm - Jim Feb 10, 12:53

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