Sunday, February 1, 2009

The Little People Simply Don't Understand Finance

The New York Times had a piece today where Wall Street wizards defended the bonuses they pried out of the money given to them by the Treasury Department, i.e., you and me. Here's one such rationalization:

“On Main Street, ‘bonus’ sounds like a gift,” he said. “But it’s part of the compensation structure of Wall Street. Say I’m a banker and I created $30 million. I should get a part of that.”


OK, now say you're a banker and you lost $30 million. What should you get for that?

3 comments:

Denver Doug said...

Answer - Bupkis mit Kuduchas.

Tom Nawrocki said...

I could go along with that if I had any idea what "Kuduchas" was.

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