I think I threw up in my mouth a little bit.

So if the willfully unemployed were smarter or more motivated, they could be working for Goldman Sachs and earning $700,000. But they prefer to sit around in shopping carts and blow their welfare checks on heroin.

Not too many willfully unemployed in my area right now from what I see. It's just really hard to find jobs. Thankfully, I have one, but I can't even imagine raking in THAT much money yearly, let alone in just bonuses.

9.5 is the U3 number. The watered down one.

I've said it before, and I'll say it again; I suddenly have a newfound understanding behind the French revolution.

LordPomposity: So if the willfully unemployed were smarter or more motivated, they could be working for Goldman Sachs and earning $700,000. But they prefer to sit around in shopping carts and blow their welfare checks on heroin.

Exactly.

Another thing to consider is that Goldman Sachs employees have a special skill set that the normal person doesn't have. These are the best and the brightest we're talking about. If they weren't paid these kinds of bonuses, they'd probably go do something else. Something that would harm America's interests.

As a small business owner, I fully applaud these kinds of bonuses for members of society who have proven their worth.

Let's have a chat with them.

ragekage: I've said it before, and I'll say it again; I suddenly have a newfound understanding behind the French revolution.

Dramatic much?

sigdiamond2000

As a small business owner, I fully applaud these kinds of bonuses for members of society who have proven their worth had the dumb luck to land a job at Goldman Sachs

/FTFY

You mean people who gave Goldman Sachs their best quarterly profit ever are paid well?

I'm shocked and appalled that talented employees are paid commensurate with their worth!!

So what should GS do with that money then? Not give bonuses?

Subby is correct: the Goldman Sachs employees earning those bonuses are DIRECTLY responsible for the high unemployment rate and continuing job losses. There were no other players responsible for the housing rise and fall. Innocent mortgage brokers, homeowners and realtors certainly never had dollar signs in their eyes and were simply hoodwinked by the Really Smart Guys at Goldman. Grrrrrr!

DamnYankees: ragekage: I've said it before, and I'll say it again; I suddenly have a newfound understanding behind the French revolution.

Dramatic much?

it always amuses me that there is such a large number of Farkers who really believe poor people are going to start lopping off the heads of the rich in the street

Marcus Aurelius: had the dumb luck to land a job at Goldman Sachs

Right, they didn't earn the job, it was just dumb luck

If I worked a job where I had to work 14-16 hour days seven days a week and never got to see my family or friends, then $700,000 might make me feel a little bit better and not like cracking some skulls the next time I came to work.

lexnaturalis: You mean people who gave Goldman Sachs their best quarterly profit ever are paid well?

I'm shocked and appalled that talented employees are paid commensurate with their worth!!

You mean the same employees that ran it into the ground to the extent that it was only saved by a taxpayer-funded bailout??

Those employees?

Yeah, fark that. Goldman Sachs owes the U.S. taxpayer about $3B in interest for the loan they took out.

They're throwing money that's only there because the taxpayers were forced to bail them out at employees who farked the company up in the first place.

Real good move.

KaponoFor3: If I worked a job where I had to work 14-16 hour days seven days a week and never got to see my family or friends, then $700,000 might make me feel a little bit better and not like cracking some skulls the next time I came to work.

there are a lot of 40hr workers out there who honestly can't understand the simple fact that a lot of very wealthy people sacrificed and risked a lot of their time and money and actually earn the salaries and bonuses they command.

WaltzingMathilda: there are a lot of 40hr workers out there who honestly can't understand the simple fact that a lot of very wealthy people sacrificed and risked a lot of their time and money and actually earn the salaries and bonuses they command.

I'm not surprised, to be honest. I don't think your everyday working man understands the personal sacrifices that a lot of these high paid guys make. I mean, I better get paid a shiatload of money if I'm never going to see my family. Honestly, I bet some of these Goldman Sachs workers have NO personal life, or are on their third marriage, etc. Yeah, you get paid a lot, but the rest of your life (whatever it may be) outside of your desk sucks big time.

KaponoFor3: If I worked a job where I had to work 14-16 hour days seven days a week and never got to see my family or friends, then $700,000 might make me feel a little bit better and not like cracking some skulls the next time I came to work.

Can we still think their are douches, though?

WaltzingMathilda: there are a lot of 40hr workers out there who honestly can't understand the simple fact that a lot of very wealthy people sacrificed and risked a lot of their time and money and actually earn the salaries and bonuses they command.

My boss is one of these people. Heck, he still does some of the tech calls. Of course I work my butt off too. I worked an 83 hour week last week and MY bonuses reflect that.

ragekage: I've said it before, and I'll say it again; I suddenly have a newfound understanding behind the French revolution.

One should not be mad at the rich people asking the government for money. One should be mad at the government for giving it to them.

WaltzingMathilda: there are a lot of 40hr workers out there who honestly can't understand the simple fact that a lot of very wealthy people sacrificed and risked a lot of their time and money and actually earn the salaries and bonuses they command.

THESE particular wealthy people didn't earn their salaries and bonuses.

They ran their company into the ground and are only still here because the government forced the taxpayers to give them a multi-billion dollar interest-free bailout.

sigdiamond2000: Another thing to consider is that Goldman Sachs employees have a special skill set that the normal person doesn't have. These are the best and the brightest we're talking about. If they weren't paid these kinds of bonuses, they'd probably go do something else. Something that would harm America's interests.

As a small business owner, I fully applaud these kinds of bonuses for members of society who have proven their worth.

You forgot the sarcasm tag.

But I fully agree that Wall Street was a perfect place for the majority of these douchebags and kept them out of wrecking profitable companies in the broader economy. Unfortunately, their playground wasn't big enough and they had to spill over into messing up the economy anyway.

Life was perfect when they merely stole from each other for a living, as well as from the odd neophyte who thought they could play on Wall Street. My greatest fear is that a herd of BS/MS/JPM/GS excel spreadsheet jockeys are going to escape their gilded cage and do even more damage elsewhere.

DamnYankees: KaponoFor3: If I worked a job where I had to work 14-16 hour days seven days a week and never got to see my family or friends, then $700,000 might make me feel a little bit better and not like cracking some skulls the next time I came to work.

Can we still think their are douches, though?

If I were you, in this current hiring climate, I wouldn't be calling Goldman Sachs douche bags. I'd be clawing for an interview.

Nabb1: If I were you, in this current hiring climate, I wouldn't be calling Goldman Sachs douche bags. I'd be clawing for an interview.

Why? I'm not a banker.

what happens when the unemployment rate is 50%?

DamnYankees: Why? I'm not a banker.

Egotistical, relatively clueless employees seem to be par for the course at Goldman Sachs.

I don't think you'd fit in there very well.

SchlingFocker: Egotistical, relatively clueless employees seem to be par for the course at Goldman Sachs.

I don't think you'd fit in there very well.

Ummm...thank you.

SushiJoe: what happens when the unemployment rate is 50%?

We jump in our canoes and start trapping Wall Street investors, selling their suits for a nice profit.

DamnYankees: Can we still think their are douches, though?

Absolutely 100% for sure. A good majority of them probably are douches.

SchlingFocker: We jump in our canoes and start trapping Wall Street investors, selling their suits scalps for a nice profit.


FTFY, Lakota-style.

KaponoFor3: DamnYankees: Can we still think their are douches, though?

Absolutely 100% for sure. A good majority of them probably are douches.

Well then we're good.

DamnYankees: FTFY, Lakota-style.

Sorry, I prefer KITH-style :)

DamnYankees: Nabb1: If I were you, in this current hiring climate, I wouldn't be calling Goldman Sachs douche bags. I'd be clawing for an interview.

Why? I'm not a banker.

GS has an army of in-house lawyers.

DamnYankees: Why? I'm not a banker.

GS has a wide variety of people working there that are not bankers. There's tech, accounting, HR, legal, hell, they probably have landscapers.

Nabb1: If I were you, in this current hiring climate, I wouldn't be calling Goldman Sachs douche bags. I'd be clawing for an interview.

I'd rather see workers boycott companies who exemplify exactly why our economy is in the state that it's in.

Nabb1: GS has an army of in-house lawyers.

Pretty sure I'd kill myself before going that route.

Nabb1: GS has an army of in-house lawyers.

Even large corporations have balls that need washing :)

SchlingFocker: Nabb1: If I were you, in this current hiring climate, I wouldn't be calling Goldman Sachs douche bags. I'd be clawing for an interview.

I'd rather see workers boycott companies who exemplify exactly why our economy is in the state that it's in.

I think Goldman Sachs already paid back their TARP money. If I'm not mistaken they were one of the first to do so. Besides, with the current associate market, a job is better than no job.

Nabb1: GS has an army of in-house lawyers.

Putting him in the back office isn't going to make him $700K.

DamnYankees: Nabb1: GS has an army of in-house lawyers.

Pretty sure I'd kill myself before going that route.

A buddy of mine went that route with GS out of law school. Did well in New York, got sent to London, then headed up an office in Hong Kong. Struck out on his own as a consultant in international finance after that and is doing very, very well. You'd be insane to turn down an opportunity with Goldman Sachs.

Playerslight: Nabb1: GS has an army of in-house lawyers.

Putting him in the back office isn't going to make him $700K.

If you think GS lawyers (some of them anyway) don't make $700k, you are mistaken.

Playerslight: Nabb1: GS has an army of in-house lawyers.

Putting him in the back office isn't going to make him $700K.

No, but it's not unheard of for secretaries to get annual bonuses deep in five figures. I think even a first-year proto-lawyer could bank on a six-figure bonus in a decent year.

Nabb1: I think Goldman Sachs already paid back their TARP money. If I'm not mistaken they were one of the first to do so. Besides, with the current associate market, a job is better than no job.

The fact is that they still would've been out of business without an interest-free taxpayer-funded bailout.

They were engaging in the ignorant, short-sighted investing that brought about the housing bubble and subsequent collapse.

They knew it was garbage, but they felt they were smart enough to get out before the whole pile of shiat collapsed.

Their mode of thinking is what got us where we are. Their investing was not in good faith, and they should have received no bail-out.

Nabb1: I think even a first-year proto-lawyer could bank on a six-figure bonus in a decent year.

I'd kill myself before I worked those kind of hours. It's not about the money.

Crosshair: One should not be mad at the rich people asking the government for money. One should be mad at the government for giving it to them.

Oh, this is a load of bullshiat.

"One should not be mad at the child molestor for offering $50 to rape the little girl. One should be mad at the parent for giving the little girl to the child molestor."

Nabb1: No, but it's not unheard of for secretaries to get annual bonuses deep in five figures. I think even a first-year proto-lawyer could bank on a six-figure bonus in a decent year.

Heh. I was certainly aware GS and others rewarded their traders handsomely, but I didn't know that extended as deeply into the backoffice as you're saying. Interesting.

But any reason why a secretary or a lawyer needs that large a bonus? Doesn't the whole reasoning behind bonuses fall apart then (i.e. retaining irreplaceable talent)?

SchlingFocker: The fact is that they still would've been out of business without an interest-free taxpayer-funded bailout.

The actual fact is that while they would've struggled, GS got out of the pile of shiat well before any collapse would have put them out of business. The other fact is that they were forced to take TARP money.

SchlingFocker: "One should not be mad at the child molestor for offering $50 to rape the little girl. One should be mad at the parent for giving the little girl to the child molestor."

I'm pretty sure one can be mad at both.

DamnYankees: Nabb1: I think even a first-year proto-lawyer could bank on a six-figure bonus in a decent year.

I'd kill myself before I worked those kind of hours. It's not about the money.

You're gonna work those hours anywhere in Big Law. I know someone who got a gig at Baker Botts after Katrina who was in her fifth year of practice who put in those hours before coming back to NOLA. Even if you just slog away there for three years to pay off your student loans and pad your resume, it can pay some serious dividends.

Playerslight: But any reason why a secretary or a lawyer needs that large a bonus?

First off, need does not play a very large part in most compensation packages. Second, the secretaries and lawyers support the rest of the business, and are expected to put in the same kind of hours the other people do.