Genghis on Debt Ceiling II: Return of the Boehner
Gallup: Obama 45, Romney 45
Fact That Things Suck Cited As Impediment To Re-Election
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Genghis on Debt Ceiling II: Return of the Boehner Gallup: Obama 45, Romney 45 Fact That Things Suck Cited As Impediment To Re-Election |
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It's been kind of quiet and depressing at work, so I've been doing a lot of web surfing lately. It seems like everyone just wants to bitch about how pissed off they are that bankers like me got their bonuses this year. Well, like we say in my biz: go f--- yourselves.
My bonus is the main part of my compensation, get it? My base pay is only $200K. If I wanted to live in poverty, I would of been a teacher or a bond trader or something. Plus, I've got a lifestyle to maintain. My girlfriend is whining on some support-group site for i-banker girlfriends because I won't take her to Bermuda. And my wife is whining on the same site, if you can believe it, because I can only afford for her to get facials every six weeks. I'm like, don't you bitches get it? My bonus is down 40% from last year. It's almost as bad as 2003.
Some people act like I don't deserve my bonus, but you buttholes don't get that I work my ass off. When I first started out of college, I was working 80+ hours for only $110K including bonus, and I had to do lots of grunt work and spreadsheets and stuff. Even Mexicans won't work for those kind of conditions. As if Mexicans could even do my kind of work. You have to go to a really expensive, prestigious college. My college was so exclusive that I wouldn't have even gotten in except that I played squash and also my dad went there. So what I'm saying is that I earned my money.
The other thing is that i-bankers are way too important to not get their bonuses. Companies can't do deals without us. We're the grease that makes their wheels spin. Without us, there's too much friction, so the wheels don't turn, and the cars just sit there revving their engines like morons. OK, so maybe we got a bit too greasy the last couple of years and the wheels kind of spun off the axels. But that doesn't mean that the grease shouldn't get bonuses. Look, we get it that we were too greasy, but it's not like we did something bad. So we made money. What's wrong with that?
By Nancy Benac, Associated Press, May 16, 2012
After the nastiness of the Republican primary race, former candidates have collective amnesia about Romney disses
Note to self: you think you're so smart about this kinda stuff, but you yourself fell for it once again.....so much for all the prognostication about one of our political parties disintegrating from all the primary campaign animosity.
Pew Resarch Center for the People and the Press, May 15, 2012
For decades survey research has provided trusted data about political attitudes and voting behavior, the economy, health, education, demography and many other topics. But political and media surveys are facing significant challenges as a consequence of societal and technological changes.
It has become increasingly difficult to contact potential respondents and to persuade them to participate. The percentage of households in a sample that are successfully interviewed – the response rate – has fallen dramatically. At Pew Research, the response rate of a typical telephone survey was 36% in 1997 and is just 9% today. The general decline in response rates is evident across nearly all types of surveys, in the United States and abroad. At the same time, greater effort and expense are required to achieve even the diminished response rates of today. These challenges have led many to question whether surveys are still providing accurate and unbiased information [....]
On May 16, 2012 at 7:00 PM, the Ride of Silence will begin in North America and roll across the globe. Cyclists will take to the roads in a silent procession to honor cyclists who have been killed or injured while cycling on public roadways. Although cyclists have a legal right to share the road with motorists, the motoring public often isn't aware of these rights, and sometimes not aware of the cyclists themselves.
...
The Ride of Silence is a free ride that asks its cyclists to ride no faster than 12 mph, wear helmets, follow the rules of the road and remain silent during the ride. There are no sponsors and no registration fees. The ride, which is held during National Bike Month, aims to raise the awareness of motorists, police and city officials that cyclists have a legal right to the public roadways. The ride is also a chance to show respect for and honor the lives of those who have been killed or injured.
A new UCLA rat study is the first to show how a diet steadily high in fructose slows the brain, hampering memory and learning — and how omega-3 fatty acids can counteract the disruption. The peer-reviewed Journal of Physiology publishes the findings in its May 15 edition.
"Our findings illustrate that what you eat affects how you think," said Fernando Gomez-Pinilla, a professor of neurosurgery at the David Geffen School of Medicine at UCLA and a professor of integrative biology and physiology in the UCLA College of Letters and Science. "Eating a high-fructose diet over the long term alters your brain's ability to learn and remember information. But adding omega-3 fatty acids to your meals can help minimize the damage."
While earlier research has revealed how fructose harms the body through its role in diabetes, obesity and fatty liver, this study is the first to uncover how the sweetener influences the brain.
The UCLA team zeroed in on high-fructose corn syrup, an inexpensive liquid six times sweeter than cane sugar, that is commonly added to processed foods, including soft drinks, condiments, applesauce and baby food. The average American consumes more than 40 pounds of high-fructose corn syrup per year, according to the U.S. Department of Agriculture.
"We're not talking about naturally occurring fructose in fruits, which also contain important antioxidants," explained Gomez-Pinilla, who is also a member of UCLA's Brain Research Institute and Brain Injury Research Center. "We're concerned about high-fructose corn syrup that is added to manufactured food products as a sweetener and preservative."
[Better write this down]
Christopher Doyon, a.k.a. Commander X, sits atop a hillside in an undisclosed location in Canada, watching a reporter and photographer make their way along a narrow path to join him, away from the prying eyes of law enforcement.
It’s been a few weeks of encrypted emails back and forth, working out the security protocol to follow for interviewing Doyon, one of the brains behind Anonymous, now a fugitive from the FBI.
Doyon, who readily admits taking part in some of the highest-profile hacktivist attacks on websites last year — from Tunisia to Orlando, Sony to PayPal — was arrested in September for a comparatively minor assault on the county website of Santa Cruz, Calif., where he was living, in retaliation for the town forcibly removing a homeless encampment on the courthouse steps.
The “virtual sit-in” lasted half an hour. For that, Doyon is facing 15 years in jail.
joe, this is funny (i especially like the bond trader line), tho i can't exactly tell how much is facetious here and how much is earnest (im thinking 85% facetious). I absolutely agree investment bankers work their tails off, especially when they're right out of college, and the hourly wages are usually not nearly as impressive as the total compensation sums.
i don't begrudge employees making money when their companies make money. but so, so much of what the investment banking community did ended up destroying value not creating it, and eventually, the market is going to sniff that out. the gig is up. the business will never be the same. i just hope the industry hasn't brought the whole country down with it.
Maybe those of you living in close physical proximity to these people have more sympathy for them. But from where I am watching, it's disgusting. They created, or at the very least took advantage of, a fairy tale bubble. I've heard some say that no one really understood what was happening because the derivatives were so complicated. Fuck. That.
They understood that they were getting rich while incomes for the rest of us were falling further and further. Now, companies have the nerve to whine about losing the good employees if they don't hand out the bonuses. I'm not sure whether to laugh, throw up, or put my fist through a wall.
Privatized wealth. Socialized debt. This is not your father's capitalism. And there is nothing about it that doesn't suck.
Funny piece though.
More whining.
They think people are villifying them because they used too many fucking pens?
Full disclosure:
O, it's really not that simple. First, there are many types of I-bankers, and most of them were not dealing in derivatives. Second, I-bankers are not evil people, at least no more evil on average than anyone else. In my experience, they tend to be arrogant and materialistic, partly due to self-selection and partly due to the culture fostered at i-banks. And like rich people everywhere, they often carry a sense of entitlement. But while those are irritating personality traits, and i-bankers are fun to hate, I've never seen any evidence that they're more malicious or selfish than the population at large.
Do you know anyone who turns down bonuses or raises because they think that they make too much money? I don't. Taking your paycheck is not immoral. Investing in a bubble isn't immoral either. If it were, everyone except for a few dour risk avoiders would be immoral. Bubbles are psychological phenomena which cause a majority of investors to overvalue an asset. It can afflict the best of us. Few people knowingly invest in a bubble. If you knew it was a bubble, you wouldn't invest.
There are certainly real bad guys out there, like ousted Merrill Lynch CEO John Thain, who is duplicitous, hypocritical, and self-serving. But the real cause of the derivative bubble was the unregulated system, not the schmucks who fell for it. Just because many individual actions collectively screwed the nation, that does not mean that the individuals who took those actions intentionally screwed the nation for their own benefit.
That said, those individuals still bear responsibility for what happened, they're still overpaid, and their bonuses are still coming from Federal investments, so it defies the very notion of "bonus" for them to collect bonuses this year.
A person who drives drunk and accidentally kills someone didn't maliciously set out to do it either. Probably, the drunk driver is a very nice person who wants to be good. But we don't buy them a Mercedes and say "Everybody deserves a second chance."
I get that nobody wanted to drive the country into this predicament and that it's never "that" simple. But they can at least stop with the fucking poor me act.
they are really starting to amuse me
Maybe I'm taking the wrong approach. I should be laughing at the fact that my 401K has likely shrunk so much that I'll be working until I'm 80.
That you can cry about. But laugh at the poor beleagured i-bankers.
"I-bankers are not evil people, at least no more evil on average than anyone else." That's a rather damning defense, Genghis.
I dunno. I read this week about a major i-bank that got jittery and pulled all of its own investments out of Madoff funds, but didn't tell clients it had advised to invest with him to do the same. That's pretty damn evil.
Syllogistic fallacy. I read a few weeks ago about a mailman who stole mail. Does that mean that mailmen are evil?
Also, I'm not sure of the subject of the article you read, but traditional i-banks don't usually invest in funds, and their clients usually aren't private investors. None of the big American i-banks were invested in Madoff to my knowledge.
I did a little googling, and the firm I was referring to is JPMorgan Chase. Do they qualify as an i-bank? Beats me. Apparently they weren't direct investors in Madoff but in hedge funds linked to Madoff. And yes, they got out because they thought he was dodgy but didn't tell their clients.
Mailmen ARE evil, and not just because they steal mail. You've heard of "going postal?" I believe many are driven insane by breathing in an accumulation of toxins from the envelope glue they are surrounded with, much as hatmakers in the 19th century grew mad from the mercury used in their products. Come to think of it, it's just possible that paper money has some as-yet-undiscovered ingredient that has a similar effect on investment bankers.
JPMorgan was an i-bank. JPMorgan Chase is a bank that does investment banking. It doesn't sound like the Madoff thing was done by their investment banking services, but it's hard to tell. I-banking is pretty loosely defined. Traditional i-banking usually involves big deals between corporations. Here's the NYT article on the issue.
Too much googling is also known to be hazardous to mental health. Bloggers are evil.
I don't believe I ever used the term "evil." But sometimes, villiagers with pitchforks have a valid point.
Hilarious (it's so nice to use that word with the correct spelling) :)
Joe, no skin off my nose about your flipping bonus past years. If the stockholders think it is okay - well, capitalist economy and all that - that is thier problems. Now you are getting paid with taxpayer money and as a tax payer I say nope, you dope. Tell your girlfriend to get a job as a plane machanic and buy your wife a washcloth.
PS. Go post somewhere else. No whiners here. Mr. G. will insert proper graphic at in this space.
Yessssssssssssssssssssssss!! Thank you.
You probably know how much money you made last month but you do not know how much money you spent. Or do you know how much money you have left to spend this month. If you do not, you’re not alone. Most people have no idea. The fact is most of us spend 10% more per month than we make. That comes out to $431 per month based on the Average American income. How about the bonuses!!?? And if you come out short in money, how are you going to manage your debt relief? This has led some critics to charge that credit counseling is just a tool of the lending industry. The payment system, known as "fair share," has certainly encouraged the growth of credit counseling services. And some agencies, driven by competition, are now openly courting consumers who haven't fallen behind on their debts by promising lower interest rates. This development has angered credit-card companies and often hurts consumers, who may find out too late that such plans can hurt their credit ratings and are often unnecessary.