That he feels the need to ask that question speaks volumes about his lack of understanding of the reality of the world that the rest of us live in.

"Acting like everyone who's been successful is bad and that everyone who is rich is bad - I just don't get it,"


Nor do I.

This sentiment does not surprise me as Lloyd Blankfein's view of himself and other Wall-Streeters as "doing God's work" is really how these people think because they have been brainwashed themselves. It's not that they are cynically just making money for themselves without thought for others- they really think they are contributing something of value.

I've been reading a lot about Wall Street lately and the truth is, the drive to increase shareholder value over all else not only doesn't even occur in the long-run but actually doesn't create much value for the broader economy. In twentieth century America corporations for a long time were run to make profit, but that profit was a long-term goal and took into consideration both managers and labor. Since the 1980s, corporations are essentially being run by Wall Street and instead of thinking about long-term reinvestment in machinery, tech, and labor, they are viewed as potential liquidity- assets to be sliced and diced and sold off.

In the post-Depression years, Wall Street became something of a desert. Almost no one invested their money in the stock market as they saw it as too risky (compare that to today!). Keynesian economics and closer governmental regulation (plus a booming economy because of the war years) led to the downplaying of Wall Street as a real player in the economy. Corporate CEOs were very wary of investment bankers and Wall Street types in general. That has changed now and we assess the health of the economy based on the stock market. That is crazy. It has to change. We need to move away from the financialization of the economy (which pools all the money in the hands of a privileged few- the 1%) towards a manageable form of capitalism in which we produce things of value for the economy.

Quote from the article ""Most of us wage earners are paying 39.6 percent in taxes and add in another 12 percent in New York state and city taxes and we're paying 50 percent of our income in taxes," Dimon said in defense of his fellow Wall Street bankers."

Maybe people hate you because you're lying about your tax rate. I particularly like how there's an assumption that he spends every single penny he makes in NY state.

Tigger: Quote from the article ""Most of us wage earners are paying 39.6 percent in taxes and add in another 12 percent in New York state and city taxes and we're paying 50 percent of our income in taxes," Dimon said in defense of his fellow Wall Street bankers."

Maybe people hate you because you're lying about your tax rate. I particularly like how there's an assumption that he spends every single penny he makes in NY state.

Do bonuses count as wages? Because that is the bulk of many Wall Streeters' pay. Also, the rate he points to doesn't include the capital gains rate either, which is very low and often constitutes a lot of the money the extremely rich depend on.

I don't know Jamie... it could be because the company you run was over charging veterans for their mortgages.

Or it could be because the company you run was taking depositor money and investing it in credit default swaps.

Or it could be that the company you run drove dozens of communities into or to the brink of bankruptcy by gaming their municipal bonds through the manipulation of the derivatives market.

Or it could be because you are a sociopathic douche bag who is likely counting down the days till he is tossed into a prison for the rest of your natural life.

coco ebert: Do bonuses count as wages? Because that is the bulk of many Wall Streeters' pay.

Chase has a quarter million employees, the vast majority of them are regular middle class workers just like most of us. A few on the very top are getting the huge bonus money.

Code_Archeologist: I don't know Jamie... it could be because the company you run was over charging veterans for their mortgages.

9 veterans were coded incorrectly, and these cases were fixed. I'd like to see any company stand up to the scrutiny that Chase is under and come out as well.

I'd love to see anyone here in charge of the business lines, constant law changes, and the amount of money flowing through a company this big with as few complete clusterfarks as Chase has been through.

R.A.Danny: Chase has a quarter million employees, the vast majority of them are regular middle class workers just like most of us. A few on the very top are getting the huge bonus money.

Point taken. I'm referring specifically to Wall Street and to what they call "front-end" workers- the analysts, vice-presidents, and managers in investment banking that make the majority of the money.

coco ebert: Do bonuses count as wages? Because that is the bulk of many Wall Streeters' pay.

Yes. It's just income. It doesn't have any special tax status.

coco ebert: Do bonuses count as wages? Because that is the bulk of many Wall Streeters' pay. Also, the rate he points to doesn't include the capital gains rate either, which is very low and often constitutes a lot of the money the extremely rich depend on.

Exactly. That's a very carefully worded statement. Like hell he pays 50%. Not even close.

John Paul Jones: coco ebert: Do bonuses count as wages? Because that is the bulk of many Wall Streeters' pay. Also, the rate he points to doesn't include the capital gains rate either, which is very low and often constitutes a lot of the money the extremely rich depend on.

Exactly. That's a very carefully worded statement. Like hell he pays 50%. Not even close.

Since his bonuses are going to be in stock so he can get around tax laws by just paying capital gains taxes? Yeah.

Acting like everyone who's been successful is bad and that everyone who is rich is bad - I just don't get it

No you don't get it because that's not what people are saying at all.

Who?

I have never blamed the rich for our problems. Of course they do this shiat because they can get away with it. I blame politicians (ignorant voters by extension) for allowing them to do it.

Yeah, he's hurting, earning so much less than he was in 2007 (new window).

Oops... that was for 2006. 2007 - 2009 (new window) were awful for him. Just awful

Most of us wage earners are paying 39.6 percent in taxes

We hate you because you're a lying sack of shiat.

Most of us "wage earners" get the majority of our income from... ya know.... WAGES... not from millions of dollars worth of stock options.

R.A.Danny: "Acting like everyone who's been successful is bad and that everyone who is rich is bad - I just don't get it,"

Nor do I.

People don't hate him because he's rich, they hate him because him and those like him are parasites on the American economy who have been sucking money off the top for decades. And when he fails miserably as he did in 2008, it isn't the rich who bail out the rich, its the middle class. Then these same assholes turn around and lobby congress to make it more difficult for citizens to file bankruptcy. You know what? Fark this guy. I do hate him. DIAF Mr. Dimon.

"Most of us wage earners are paying 39.6 percent in taxes and add in another 12 percent in New York state and city taxes and we're paying 50 percent of our income in taxes," Dimon said in defense of his fellow Wall Street bankers.

wage earners
wage earners
wage earners
wage earners
wage earners

Hitler: I am good at what I do. Why all the hatin'?

/Oh yeah, Godwinned.

Chameleon: "Most of us wage earners are paying 39.6 percent in taxes and add in another 12 percent in New York state and city taxes and we're paying 50 percent of our income in taxes," Dimon said in defense of his fellow Wall Street bankers.

wage earners
wage earners
wage earners
wage earners
wage earners

No shiat. What an asshole.

soy_bomb: soy_bomb: Sorry Jamie, we have ineffective leadership in Washington so we got to have someone else distract the unemployed and underemployed masses. You're it!

FTFM

You could fix it all you want. It wouldn't make you less of a douche.

"we're paying 50 percent of our income in taxes"

No you aren't, you lying fark.

Sabyen91: soy_bomb: soy_bomb: Sorry Jamie, we have ineffective leadership in Washington so we got to have someone else distract the unemployed and underemployed masses. You're it!

FTFM

You could fix it all you want. It wouldn't make you less of a douche.

Or anymore correct.