Home > finance, world > the next wall street jobs?

the next wall street jobs?

Deal Journal spoke with a Merrill Lynch banker this week. He was, as one might expect given this month’s events, scoping the exits. “So are many others here,” he assured us.

We have no doubt. As much as Wall Street bonuses were down, some aren’t satisfied. Like, for instance, President Obama, who objected today to Wall Street’s $20 billion bonus payments “at a time when most of these institutions were teetering on collapse and they are asking for taxpayers to help sustain them… that is the height of irresponsibility. It is shameful.”

There are few places a resentful investment banker can take refuge. When former Merrill Lynch Chief Executive John Thain defended his former firm’s bonuses this week–saying “If you don’t pay your best people, you will destroy your franchise” and they’ll go elsewhere–opinionatrix Maureen Dowd scoffed, “Hello? They destroyed the franchise. Let’s call their bluff. Let’s see what a great job market it is for the geniuses of capitalism who lost $15 billion in three months and helped usher in socialism.”

continue reading…

Advertisements
Categories: finance, world Tags: ,
  1. km
    January 31, 2009 at 3:59 pm

    I hope they do change after this blood -shed is over.

  2. January 30, 2009 at 4:49 pm

    Wall Street will change as a result of the financial crisis. It’s just the dinosaurs like Thain that seem unwilling to face that reality.

  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: