<?xml version="1.0" encoding="UTF-8"?><rss version="2.0"
	xmlns:content="http://purl.org/rss/1.0/modules/content/"
	xmlns:dc="http://purl.org/dc/elements/1.1/"
	xmlns:atom="http://www.w3.org/2005/Atom"
	xmlns:sy="http://purl.org/rss/1.0/modules/syndication/"
		>
<channel>
	<title>Comments on: Wall Street&#039;s Bonus System  Was a Major Financial Crisis Catalyst</title>
	<atom:link href="http://moneymorning.com/2009/02/05/wall-street-bonuses/feed/" rel="self" type="application/rss+xml" />
	<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/</link>
	<description>Global Investment News</description>
	<lastBuildDate>Mon, 13 Feb 2012 18:41:47 +0000</lastBuildDate>
	<sy:updatePeriod>hourly</sy:updatePeriod>
	<sy:updateFrequency>1</sy:updateFrequency>
	<generator>http://wordpress.org/?v=3.3.1</generator>
	<item>
		<title>By: Is President Obama Creating a Better Banking System by Capping Executive Pay?</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-8922</link>
		<dc:creator>Is President Obama Creating a Better Banking System by Capping Executive Pay?</dc:creator>
		<pubDate>Mon, 14 Dec 2009 16:51:33 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-8922</guid>
		<description>[...] the last 30 years, Wall Street has had a problem with its remuneration system. Base pay was only around $150,000 even for a partner/managing director &#8211; not enough to live [...]</description>
		<content:encoded><![CDATA[<p>[...] the last 30 years, Wall Street has had a problem with its remuneration system. Base pay was only around $150,000 even for a partner/managing director &#8211; not enough to live [...]</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Please Keep The Pigs Penned When Finalizing The Stimulus Bill</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5176</link>
		<dc:creator>Please Keep The Pigs Penned When Finalizing The Stimulus Bill</dc:creator>
		<pubDate>Sat, 07 Mar 2009 15:12:55 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5176</guid>
		<description>[...] (However, if you do want to read more about it, Smart Profits Report sister publication Money Morning has a free detailed analysis of the problem right here.) [...]</description>
		<content:encoded><![CDATA[<p>[...] (However, if you do want to read more about it, Smart Profits Report sister publication Money Morning has a free detailed analysis of the problem right here.) [...]</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: John Lawrence</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5155</link>
		<dc:creator>John Lawrence</dc:creator>
		<pubDate>Wed, 11 Feb 2009 16:29:49 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5155</guid>
		<description>Shah Gilani writes that &quot;compensation should not be regulated by any government. There are, however, limits that need to be applied to compensation [...]&quot;

Mr. Gilani would make a great politician, would he not?  What exactly is your position, Mr. Gilani, other than that you would like to have your cake and eat it too?

While Mr. Gilani&#039;s stance is not apparent, what is apparent is that the principle of freedom and liberty is completely lost on Mr. Gilani as well as every comment-poster to this page.  I understand taxpayer concern over how their money is spent, but why attack the bankers rather than the morally bankrupt politicians who are choosing to bail them out?  I suppose the answer to this is simple: fear.  The politicians have convinced the masses that the world will end if we let our current banking system fail.  Common sense would tell us that as long as there is demand for borrowing and lending in a free market, it certainly will take place, even if we don&#039;t have banks named Citibank, Chase, and Bank of America.  In, times like these, however, it is clear that common sense does not prevail, but rather the continued transfer of power into the hands of a small group of elite, who continue to do immense damage to our future prosperity.

When will people wake up?</description>
		<content:encoded><![CDATA[<p>Shah Gilani writes that "compensation should not be regulated by any government. There are, however, limits that need to be applied to compensation [...]"</p>
<p>Mr. Gilani would make a great politician, would he not?  What exactly is your position, Mr. Gilani, other than that you would like to have your cake and eat it too?</p>
<p>While Mr. Gilani's stance is not apparent, what is apparent is that the principle of freedom and liberty is completely lost on Mr. Gilani as well as every comment-poster to this page.  I understand taxpayer concern over how their money is spent, but why attack the bankers rather than the morally bankrupt politicians who are choosing to bail them out?  I suppose the answer to this is simple: fear.  The politicians have convinced the masses that the world will end if we let our current banking system fail.  Common sense would tell us that as long as there is demand for borrowing and lending in a free market, it certainly will take place, even if we don't have banks named Citibank, Chase, and Bank of America.  In, times like these, however, it is clear that common sense does not prevail, but rather the continued transfer of power into the hands of a small group of elite, who continue to do immense damage to our future prosperity.</p>
<p>When will people wake up?</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Is President Obama Creating a Better Banking System by Capping Executive Pay?</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5172</link>
		<dc:creator>Is President Obama Creating a Better Banking System by Capping Executive Pay?</dc:creator>
		<pubDate>Wed, 11 Feb 2009 10:30:17 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5172</guid>
		<description>[...] the last 30 years, Wall Street has had a problem with its remuneration system. Base pay was only around $150,000 even for a partner/managing director - not enough to live on for [...]</description>
		<content:encoded><![CDATA[<p>[...] the last 30 years, Wall Street has had a problem with its remuneration system. Base pay was only around $150,000 even for a partner/managing director &#8211; not enough to live on for [...]</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Sandy</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5173</link>
		<dc:creator>Sandy</dc:creator>
		<pubDate>Mon, 09 Feb 2009 21:12:08 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5173</guid>
		<description>Since I can remember all Americans are greedy junk buyers so why cry when some people maximize their greed opportunity, there isn&#039;t one American who wouldn&#039;t take all the money they could get their hands on and not give a damn about the consequences or who pays and goes hungry because you are at stores buying more crap you don&#039;t need, but when bankers do it the outcry is unbelievable, holy hypocrits your greed finally came home to roost.
Canadian viewpoint</description>
		<content:encoded><![CDATA[<p>Since I can remember all Americans are greedy junk buyers so why cry when some people maximize their greed opportunity, there isn't one American who wouldn't take all the money they could get their hands on and not give a damn about the consequences or who pays and goes hungry because you are at stores buying more crap you don't need, but when bankers do it the outcry is unbelievable, holy hypocrits your greed finally came home to roost.<br />
Canadian viewpoint</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Carlos E. Comesana</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5175</link>
		<dc:creator>Carlos E. Comesana</dc:creator>
		<pubDate>Sun, 08 Feb 2009 22:42:09 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5175</guid>
		<description>Make the fat cats list, sue them and jail them but don&#039;t forget to seize their assets asap.</description>
		<content:encoded><![CDATA[<p>Make the fat cats list, sue them and jail them but don't forget to seize their assets asap.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: nizar mecklai</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5174</link>
		<dc:creator>nizar mecklai</dc:creator>
		<pubDate>Sun, 08 Feb 2009 15:36:40 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5174</guid>
		<description>there is no denying that the global meltdown is in large measure due to wall street&#039;s greed and corruption in marketing junk bonds to unsuspecting or corrupt colluding managements.
executive compensations must be related to real returns paid to shareholders who have risked their savings invested in the corporations and under no circumstances should bonuses be in excess of equivalent shareholder dividend returns. After all the executives are being paid for their services and the ceo should never receive payment in excess of 100 times the average of the rest of the staff and workers.</description>
		<content:encoded><![CDATA[<p>there is no denying that the global meltdown is in large measure due to wall street's greed and corruption in marketing junk bonds to unsuspecting or corrupt colluding managements.<br />
executive compensations must be related to real returns paid to shareholders who have risked their savings invested in the corporations and under no circumstances should bonuses be in excess of equivalent shareholder dividend returns. After all the executives are being paid for their services and the ceo should never receive payment in excess of 100 times the average of the rest of the staff and workers.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Barbara R.</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5163</link>
		<dc:creator>Barbara R.</dc:creator>
		<pubDate>Fri, 06 Feb 2009 15:33:35 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5163</guid>
		<description>Shah -  Thank you for your response to my comment and I am being perfectly serious here.  I do not see a difference between receiving a donation from a lobbyist to consider their position when voting on a bill and taking a bribe.  Yet the first is done constantly by our politicians while the 2nd is illegal and puts people in jail.  Both parties and all politicians are guilty of this!  I do not pretend otherwise.  Our politicians rail against lobbying and earmarks in bills but our whole tax system is set up to allow all this and it SHOULD NEVER BE ALLOWED.  I sat and listened to the presidential debates and most of it from both sides was what they were going to do to satisfy their various constituencies.  There was very little about standing up against all this stuff and doing something for the public and American people in general.  Until we totally scrap our tax code and start over I don&#039;t think this will ever be fixed.  I am a firm believer in a very simplified flat or fair tax with at most 2 tiers of tax rates and NO DEDUCTIONS for people to get around.  It would simplify our lives and be the easiest method IMO to deal with the lobbyists and the earmark issues and get the politicians back to doing what is best for the country as a whole and not their pet supporters.  I have a friend who agrees with me.  We belong to different parties and we both notice that if we contact a member of Congress of the other party about any subject, WE GET NO RESPONSE - WE GET IGNORED.  This is true whether the Democrat is contacting a Republican or vice-versa.  If anything, it is more important for politicians to respond to those who disagree with them and their policies than those who agree.  Our system is so crooked it is ridiculous!</description>
		<content:encoded><![CDATA[<p>Shah &#8211;  Thank you for your response to my comment and I am being perfectly serious here.  I do not see a difference between receiving a donation from a lobbyist to consider their position when voting on a bill and taking a bribe.  Yet the first is done constantly by our politicians while the 2nd is illegal and puts people in jail.  Both parties and all politicians are guilty of this!  I do not pretend otherwise.  Our politicians rail against lobbying and earmarks in bills but our whole tax system is set up to allow all this and it SHOULD NEVER BE ALLOWED.  I sat and listened to the presidential debates and most of it from both sides was what they were going to do to satisfy their various constituencies.  There was very little about standing up against all this stuff and doing something for the public and American people in general.  Until we totally scrap our tax code and start over I don't think this will ever be fixed.  I am a firm believer in a very simplified flat or fair tax with at most 2 tiers of tax rates and NO DEDUCTIONS for people to get around.  It would simplify our lives and be the easiest method IMO to deal with the lobbyists and the earmark issues and get the politicians back to doing what is best for the country as a whole and not their pet supporters.  I have a friend who agrees with me.  We belong to different parties and we both notice that if we contact a member of Congress of the other party about any subject, WE GET NO RESPONSE &#8211; WE GET IGNORED.  This is true whether the Democrat is contacting a Republican or vice-versa.  If anything, it is more important for politicians to respond to those who disagree with them and their policies than those who agree.  Our system is so crooked it is ridiculous!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Stephanie Waterman</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5164</link>
		<dc:creator>Stephanie Waterman</dc:creator>
		<pubDate>Fri, 06 Feb 2009 03:37:18 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5164</guid>
		<description>Shah Gilani&#039;s article on &quot;Wall Street Bonus System&quot; is very good and for many investors a real eye opener.  It is my belief however that the biggest benefactor of this system has been the Federal Government itself via the income tax system.  When government engineers accounting scheme&#039;s that cloud&#039;s the basic math of balance sheets it created &quot;fuzzy math&quot;.

The government then incentivizes bad business practices in the name of &quot;helping&quot; the poor into housing ownership.  Of which they provided minimal or in many cases zero &quot;after signing&quot; support programs to help these new homeowners develop long term plans and budgets needed for the responsible managment and protection of their newly acquired assets.

Why doesn&#039;t or didn&#039;t the law makers of this country step in and fix the problems they themselves helped to create?  The answer is simple, to do so would require cutting off the stream of tax revenues from  those &quot;greedy high income earners&quot;.   Simply put you can&#039;t keep artifically moving the tax payer goal posts and expect anyone to win the game.

Moving tax payers out of &quot;middle tax brackets&quot; and pushing them into &quot;lower tax brackets&quot; first breaks their moral and reduces the desire to be productive.  People with no desire to be productive are more receptive to handouts.  Hand outs not only buy votes but also increase the burden on those in the upper tax brackets.

With enormous pressure  now upon them our wise law makers now find themselves having to bite clean off the only hand they&#039;ve been feeding from.  Yes they have painted themselves into the proverbial corner this time.

I have no fear however that the American people will rebel just like they did in the past.  We can only hope that neither we nor the terrorists blow us up 1st.</description>
		<content:encoded><![CDATA[<p>Shah Gilani's article on "Wall Street Bonus System" is very good and for many investors a real eye opener.  It is my belief however that the biggest benefactor of this system has been the Federal Government itself via the income tax system.  When government engineers accounting scheme's that cloud's the basic math of balance sheets it created "fuzzy math".</p>
<p>The government then incentivizes bad business practices in the name of "helping" the poor into housing ownership.  Of which they provided minimal or in many cases zero "after signing" support programs to help these new homeowners develop long term plans and budgets needed for the responsible managment and protection of their newly acquired assets.</p>
<p>Why doesn't or didn't the law makers of this country step in and fix the problems they themselves helped to create?  The answer is simple, to do so would require cutting off the stream of tax revenues from  those "greedy high income earners".   Simply put you can't keep artifically moving the tax payer goal posts and expect anyone to win the game.</p>
<p>Moving tax payers out of "middle tax brackets" and pushing them into "lower tax brackets" first breaks their moral and reduces the desire to be productive.  People with no desire to be productive are more receptive to handouts.  Hand outs not only buy votes but also increase the burden on those in the upper tax brackets.</p>
<p>With enormous pressure  now upon them our wise law makers now find themselves having to bite clean off the only hand they've been feeding from.  Yes they have painted themselves into the proverbial corner this time.</p>
<p>I have no fear however that the American people will rebel just like they did in the past.  We can only hope that neither we nor the terrorists blow us up 1st.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Venture Shadow</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5169</link>
		<dc:creator>Venture Shadow</dc:creator>
		<pubDate>Fri, 06 Feb 2009 01:23:26 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5169</guid>
		<description>Now I know why ex-royalty were guillotined in the French Revolution. When I was a child I thought this was inconceivably cruel and unnecessary. Now I know that it was merely removing highly effective antisocial predators from society. Bring Back The Guillotine.</description>
		<content:encoded><![CDATA[<p>Now I know why ex-royalty were guillotined in the French Revolution. When I was a child I thought this was inconceivably cruel and unnecessary. Now I know that it was merely removing highly effective antisocial predators from society. Bring Back The Guillotine.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: James Saito</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5168</link>
		<dc:creator>James Saito</dc:creator>
		<pubDate>Fri, 06 Feb 2009 00:19:39 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5168</guid>
		<description>Yes, it is shameful but it is human nature to be that way. If I were to be in such a controlling position as those CEOs, I would not be surprised if I were to participate in such greed. There is no one to prevent me from taking the rewards.

James Saito</description>
		<content:encoded><![CDATA[<p>Yes, it is shameful but it is human nature to be that way. If I were to be in such a controlling position as those CEOs, I would not be surprised if I were to participate in such greed. There is no one to prevent me from taking the rewards.</p>
<p>James Saito</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: wojtem</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5171</link>
		<dc:creator>wojtem</dc:creator>
		<pubDate>Thu, 05 Feb 2009 23:31:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5171</guid>
		<description>Well, it is possible to make decent money these days. My associates have started a new Bahamas based SEC registered investment fund (BRUMMA) managed by the Swiss portfolio manager STEBELLO.
In January 2009 this fund was one of 5 most profitable funds out of over 9000 funds in existence.

The fund’s standard deviation is under 7% – in line with the lowest risk bond funds, Sharpe ratio of over 2, ROI around 25%
The mathematical model is screening for stocks which have to comply with the range of set parameters. This strategy creates history of 85% of positive trades. Companies in the portfolio have a capitalization of at least USD 1 bn and liquidity of at least USD 10 mln per day. Exposure to any of the stocks in the portfolio is on average 5 working days. This secures a low correlation of BRUMMA to the stock market performance.

BRUMMA has very transparent fund structure and applies no leverage.

Salaries of the fund managers: NIL</description>
		<content:encoded><![CDATA[<p>Well, it is possible to make decent money these days. My associates have started a new Bahamas based SEC registered investment fund (BRUMMA) managed by the Swiss portfolio manager STEBELLO.<br />
In January 2009 this fund was one of 5 most profitable funds out of over 9000 funds in existence.</p>
<p>The fund’s standard deviation is under 7% – in line with the lowest risk bond funds, Sharpe ratio of over 2, ROI around 25%<br />
The mathematical model is screening for stocks which have to comply with the range of set parameters. This strategy creates history of 85% of positive trades. Companies in the portfolio have a capitalization of at least USD 1 bn and liquidity of at least USD 10 mln per day. Exposure to any of the stocks in the portfolio is on average 5 working days. This secures a low correlation of BRUMMA to the stock market performance.</p>
<p>BRUMMA has very transparent fund structure and applies no leverage.</p>
<p>Salaries of the fund managers: NIL</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: karl slonaker</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5158</link>
		<dc:creator>karl slonaker</dc:creator>
		<pubDate>Thu, 05 Feb 2009 19:02:40 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5158</guid>
		<description>I called my mortgage company on our condo in Orlando that we bought 3 years ago for our daughter and granddaughter to live in while she attends Univ. of Central Fl.  It has dropped drastically in value and there is no market.  I was attempting to have Chase Home Finance lower our interest rate.      He checked our credit and says the score was 802, which is very good. He said we would need to pay more down before they issued a loan.  The condo was $298,000 with $100,000 down but has fallen to approx $215,000.  If we keep the present loan. they have a risk of approx 183,000. He said with what they would require plus all closing costs which include 2.5pts,
we would need $28,000.  THis is utterly ridiculous. It should cost a document fee plus a new mortgage paper, perhaps less then $1,000.  The property is the same. Our credit is the same.  We have paid on time each month with no overdue charges.  The money is coming out of my IRA which makes a further problem because of the reduction in value linked to wall steet and the banking industry.  They are making loans to others at a lower rate then we are paying but not to good customers  Thank you for a response</description>
		<content:encoded><![CDATA[<p>I called my mortgage company on our condo in Orlando that we bought 3 years ago for our daughter and granddaughter to live in while she attends Univ. of Central Fl.  It has dropped drastically in value and there is no market.  I was attempting to have Chase Home Finance lower our interest rate.      He checked our credit and says the score was 802, which is very good. He said we would need to pay more down before they issued a loan.  The condo was $298,000 with $100,000 down but has fallen to approx $215,000.  If we keep the present loan. they have a risk of approx 183,000. He said with what they would require plus all closing costs which include 2.5pts,<br />
we would need $28,000.  THis is utterly ridiculous. It should cost a document fee plus a new mortgage paper, perhaps less then $1,000.  The property is the same. Our credit is the same.  We have paid on time each month with no overdue charges.  The money is coming out of my IRA which makes a further problem because of the reduction in value linked to wall steet and the banking industry.  They are making loans to others at a lower rate then we are paying but not to good customers  Thank you for a response</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Mark K.</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5153</link>
		<dc:creator>Mark K.</dc:creator>
		<pubDate>Thu, 05 Feb 2009 18:56:15 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5153</guid>
		<description>Shah,

A well written article and yes it would take a book to enumerate the crimes against humanity these Wall Street Titans have committed. Another crime that Jamie Dimon and JP Morgan Chase have committed that you may not be aware of is what they have done to over 400,000 credit card holders who took advantage of what was advertised and specifically stated as fixed rate life of balance transfer offers. Starting in November less than 2 months after Chase bought Washington Mutual they announced a change in terms on these fixed rate Life of oustanding balance transfers they were adding a $10.00 a month finance charge service fee and raising the required minimum payment from 2% of the outstanding balance to 5% of the outstanding balance. If you check their quarterly reports their credit card services division went from making almost $500 million for the first 3 quarters of 2008 to a $371 million loss in the fourth quarter. Their executives who made this &quot;business&quot; decision are not available to any cardholder to discuss this mess and all their service people are trying to tell us they want to help us and they want to be the &quot;trusted&quot; financial service provider people turn to. What a joke. Just a thought as I just went through my FINRA 101 review course. You know what the whole first hour was devoted to. ETHICS!!!! I wonder where the NASD now FINRA and the SEC were and why aren&#039;t these Wall Street Titans required to take ETHICS courses. Somewhere along the way these people seem to have lost them if they ever had any. Oh and you might as well include all the politicians and lawyers and MBAs in needing ETHICS classes. Maybe we might then get some leaders somewhere with a conscious who care about something other than themselves</description>
		<content:encoded><![CDATA[<p>Shah,</p>
<p>A well written article and yes it would take a book to enumerate the crimes against humanity these Wall Street Titans have committed. Another crime that Jamie Dimon and JP Morgan Chase have committed that you may not be aware of is what they have done to over 400,000 credit card holders who took advantage of what was advertised and specifically stated as fixed rate life of balance transfer offers. Starting in November less than 2 months after Chase bought Washington Mutual they announced a change in terms on these fixed rate Life of oustanding balance transfers they were adding a $10.00 a month finance charge service fee and raising the required minimum payment from 2% of the outstanding balance to 5% of the outstanding balance. If you check their quarterly reports their credit card services division went from making almost $500 million for the first 3 quarters of 2008 to a $371 million loss in the fourth quarter. Their executives who made this "business" decision are not available to any cardholder to discuss this mess and all their service people are trying to tell us they want to help us and they want to be the "trusted" financial service provider people turn to. What a joke. Just a thought as I just went through my FINRA 101 review course. You know what the whole first hour was devoted to. ETHICS!!!! I wonder where the NASD now FINRA and the SEC were and why aren't these Wall Street Titans required to take ETHICS courses. Somewhere along the way these people seem to have lost them if they ever had any. Oh and you might as well include all the politicians and lawyers and MBAs in needing ETHICS classes. Maybe we might then get some leaders somewhere with a conscious who care about something other than themselves</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: David Spence III</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5154</link>
		<dc:creator>David Spence III</dc:creator>
		<pubDate>Thu, 05 Feb 2009 18:30:28 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5154</guid>
		<description>&#039;Marginal  banking&#039; is a term for the banksters counterfeiting. You deposit $100. How much of that do they loan out? ZERO. It goes in the vault, and they loan out up to $900 that does  not exist. They &#039;make&#039; 1200% profit on your deposit, and pay you maybe 3%, and a bunch to PACs to prevent justice. Their accomplices  in Washington will not bite a hand that  feeds them. Its all a scam, and a house of  cards. The  collapse of the house is the current Depression, but we have 10x worse coming  down the pike. 600 trillion in credit default swaps, and derivatives are about to disappear. CEO bonuses are definately wrong, but the  collapse originated with the banksters. There is money to be made here, if you understand.</description>
		<content:encoded><![CDATA[<p>'Marginal  banking' is a term for the banksters counterfeiting. You deposit $100. How much of that do they loan out? ZERO. It goes in the vault, and they loan out up to $900 that does  not exist. They 'make' 1200% profit on your deposit, and pay you maybe 3%, and a bunch to PACs to prevent justice. Their accomplices  in Washington will not bite a hand that  feeds them. Its all a scam, and a house of  cards. The  collapse of the house is the current Depression, but we have 10x worse coming  down the pike. 600 trillion in credit default swaps, and derivatives are about to disappear. CEO bonuses are definately wrong, but the  collapse originated with the banksters. There is money to be made here, if you understand.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: &#8220;Greed is good?&#8221; &#8212; shareholdersunite.com</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5162</link>
		<dc:creator>&#8220;Greed is good?&#8221; &#8212; shareholdersunite.com</dc:creator>
		<pubDate>Thu, 05 Feb 2009 18:11:57 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5162</guid>
		<description>[...] Wall Street&#8217;s Bonus System Was a Major Financial Crisis Catalyst By Shah Gilani Contributing Editor Money Morning/The Money Map Report [...]</description>
		<content:encoded><![CDATA[<p>[...] Wall Street's Bonus System Was a Major Financial Crisis Catalyst By Shah Gilani Contributing Editor Money Morning/The Money Map Report [...]</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Searcher</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5165</link>
		<dc:creator>Searcher</dc:creator>
		<pubDate>Thu, 05 Feb 2009 18:05:30 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5165</guid>
		<description>Administrators and ?Compliance? executives do not &#039;add&#039; tens of millions of value.  Figureheads and BOD&#039;s with ever more suspect gravitas and wisdom have been shown to add little value.  &#039;Rainmakers&#039; and &#039;Dealfinders&#039; and &#039;Dealmakers&#039; may rarely add periodic value even into the tens of millions as reward for exceptional added value.  But very rarely.  Artful and perspicacious traders can be shown to add value, when such exists, by much more objective criteria than most seeking exceptional reward.  Perceptions of what the &#039;market&#039; for their services demands has been arrogated by, until now, the unchallenged hubris of the grossly unwarranted &#039;entitled&#039;.</description>
		<content:encoded><![CDATA[<p>Administrators and ?Compliance? executives do not 'add' tens of millions of value.  Figureheads and BOD's with ever more suspect gravitas and wisdom have been shown to add little value.  'Rainmakers' and 'Dealfinders' and 'Dealmakers' may rarely add periodic value even into the tens of millions as reward for exceptional added value.  But very rarely.  Artful and perspicacious traders can be shown to add value, when such exists, by much more objective criteria than most seeking exceptional reward.  Perceptions of what the 'market' for their services demands has been arrogated by, until now, the unchallenged hubris of the grossly unwarranted 'entitled'.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Architeuthis</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5167</link>
		<dc:creator>Architeuthis</dc:creator>
		<pubDate>Thu, 05 Feb 2009 17:18:42 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5167</guid>
		<description>Proscriptions should begin immediately for any government official elected or appointed, and any wall st. executive who contributed to this mess.</description>
		<content:encoded><![CDATA[<p>Proscriptions should begin immediately for any government official elected or appointed, and any wall st. executive who contributed to this mess.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Allen DeNormandie</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5166</link>
		<dc:creator>Allen DeNormandie</dc:creator>
		<pubDate>Thu, 05 Feb 2009 16:47:12 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5166</guid>
		<description>Obama should return the est $275 million in his campaine fund and adjust the salary cap to reflect his $400,000 salary plus free room and board,travel etc! His total comp is approx $1,200,000 annually! Plus one heck of a retirement fund with star status speaking like Clinton&#039;s $7,500,000 earnings!!!!!</description>
		<content:encoded><![CDATA[<p>Obama should return the est $275 million in his campaine fund and adjust the salary cap to reflect his $400,000 salary plus free room and board,travel etc! His total comp is approx $1,200,000 annually! Plus one heck of a retirement fund with star status speaking like Clinton's $7,500,000 earnings!!!!!</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Shah</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5170</link>
		<dc:creator>Shah</dc:creator>
		<pubDate>Thu, 05 Feb 2009 15:12:27 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5170</guid>
		<description>Barbara R...You are right-on-the-mark! The trouble with writing an article about all the greed and all the crooks on Wall Street is that to really tell the WHOLE story would take a book, and more than three quarters of it would be about naming the lobbyists and Congress members whose influence is bought while American taxpayers are sold up the river.</description>
		<content:encoded><![CDATA[<p>Barbara R&#8230;You are right-on-the-mark! The trouble with writing an article about all the greed and all the crooks on Wall Street is that to really tell the WHOLE story would take a book, and more than three quarters of it would be about naming the lobbyists and Congress members whose influence is bought while American taxpayers are sold up the river.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Phil Steinschneider</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5156</link>
		<dc:creator>Phil Steinschneider</dc:creator>
		<pubDate>Thu, 05 Feb 2009 14:30:28 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5156</guid>
		<description>This is exactly what happens when we interfere in markets and popup insolvent institutions: no failure; no accountability; no punishment; and therefore, no pay cut.

So now we&#039;re going to interfere again by mandating salary caps? That, in turn, will cause unanticipated consequences. Where will the next hole in the dike sprout?

As in the famous exchange between characters in Jurassic Park confirms:

Henry Wu: You&#039;re implying that a group composed entirely of female animals will... breed?

Dr. Ian Malcolm: No, I&#039;m simply saying that life, uh... finds a way.</description>
		<content:encoded><![CDATA[<p>This is exactly what happens when we interfere in markets and popup insolvent institutions: no failure; no accountability; no punishment; and therefore, no pay cut.</p>
<p>So now we're going to interfere again by mandating salary caps? That, in turn, will cause unanticipated consequences. Where will the next hole in the dike sprout?</p>
<p>As in the famous exchange between characters in Jurassic Park confirms:</p>
<p>Henry Wu: You're implying that a group composed entirely of female animals will&#8230; breed?</p>
<p>Dr. Ian Malcolm: No, I'm simply saying that life, uh&#8230; finds a way.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Barbara R.</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5161</link>
		<dc:creator>Barbara R.</dc:creator>
		<pubDate>Thu, 05 Feb 2009 12:57:13 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5161</guid>
		<description>I agree that the bonus situation for executives has gotten shameful.  However, for our President to rail at bank CEOs who got taxpayer funded bailouts and took shameful bonuses and then IGNORE and/or NOT SAY ONE WORD about Franklin Raines who ran Fannie Mae into the ground so that the government had to use taxpayer money to bail them out but Mr. Raines walks away with millions, this is hard to stomach.  Mr. Raines should be included in that list for clawbacks.  President Obama should return any money received from his #1 Presidential campaign donor (Raines).  Christopher Dodd and Barney Frank in Congress who received Fannie Mae and Freddie Mac largesse while refusing to regulate them properly should return the lobbying money they received. In a time when federal employees are having their salaries frozen and people are being laid off left and right Congress should forgo their automatic 93,000 dollar pay raise this year.  It is despicable, disgusting and unconscionable for them to reward themselves in such a way in this time of economic hardship.  Let&#039;s bring back tar and feathering for our politicians - many deserve it.</description>
		<content:encoded><![CDATA[<p>I agree that the bonus situation for executives has gotten shameful.  However, for our President to rail at bank CEOs who got taxpayer funded bailouts and took shameful bonuses and then IGNORE and/or NOT SAY ONE WORD about Franklin Raines who ran Fannie Mae into the ground so that the government had to use taxpayer money to bail them out but Mr. Raines walks away with millions, this is hard to stomach.  Mr. Raines should be included in that list for clawbacks.  President Obama should return any money received from his #1 Presidential campaign donor (Raines).  Christopher Dodd and Barney Frank in Congress who received Fannie Mae and Freddie Mac largesse while refusing to regulate them properly should return the lobbying money they received. In a time when federal employees are having their salaries frozen and people are being laid off left and right Congress should forgo their automatic 93,000 dollar pay raise this year.  It is despicable, disgusting and unconscionable for them to reward themselves in such a way in this time of economic hardship.  Let's bring back tar and feathering for our politicians &#8211; many deserve it.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Julian Hart</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5160</link>
		<dc:creator>Julian Hart</dc:creator>
		<pubDate>Thu, 05 Feb 2009 12:46:58 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5160</guid>
		<description>An outstanding article. Every American should read it and determine and then tell their own bank their feelings towards this biggest scam ever.
Your perception of this Wall street crooks society is brilliant.</description>
		<content:encoded><![CDATA[<p>An outstanding article. Every American should read it and determine and then tell their own bank their feelings towards this biggest scam ever.<br />
Your perception of this Wall street crooks society is brilliant.</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: john</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5159</link>
		<dc:creator>john</dc:creator>
		<pubDate>Thu, 05 Feb 2009 12:34:40 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5159</guid>
		<description>exterminate them</description>
		<content:encoded><![CDATA[<p>exterminate them</p>
]]></content:encoded>
	</item>
	<item>
		<title>By: Ben</title>
		<link>http://moneymorning.com/2009/02/05/wall-street-bonuses/comment-page-1/#comment-5157</link>
		<dc:creator>Ben</dc:creator>
		<pubDate>Thu, 05 Feb 2009 11:55:25 +0000</pubDate>
		<guid isPermaLink="false">http://www.moneymorning.com/?p=4724#comment-5157</guid>
		<description>These greedy cunning scheming evil people should be prosecuted, and their ill gotten money redistributed to poor people.</description>
		<content:encoded><![CDATA[<p>These greedy cunning scheming evil people should be prosecuted, and their ill gotten money redistributed to poor people.</p>
]]></content:encoded>
	</item>
</channel>
</rss>

