Merrill's top 10 earners made $209 million in 2008

[hertopos]

Source: Reuter

Reuters) - Merrill Lynch & Co's 10 highest-paid employees got a total of $209 million in cash and stock in 2008, up slightly from $201 million they received a year earlier, the Wall Street Journal said, citing reviewed figures....

Guys, I saw this news on WSJ.com originally which requires subscription.
I just checked search on DU and it does not show. This thing should make every single
DUer's upset. Just truly unbelievable.

Hertopos


Read more: http://www.reuters.com/article/wtMostRead/idUSTRE52311U20090304

---

Guys, I saw this news on WSJ.com originally which requires subscription.
I just checked search on DU and it does not show. This thing should make every single
DUer's upset. Just truly unbelievable.

Hertopos

[DavidDvorkin]

1. Actually "earned" that, did they?

[hertopos]

4. good point.

Here is funny reaction from Japan.
This was such a shocking news to Japanese. ( Maybe for other countires too.)
It is all over Japanese news sites just now. Even very small ones.
It is on Huntington Post now.

I originally read this first thing in the morning on WSJ.
I am a financial adviser for a insurance company. ( Well, my company is the only
one life insurance company that was upgraded last year. Not to mention, no
tarf money. Just for the record.)

I was waiting to post this till it's come out of WSJ.

Other funny thing was CNBC idots are trying to defend those.

I am hoping these people to be force to return what they stole.

Hertopos

[Spouting Horn]

13. Thank You Government

for bailing out Merril Lynch (through BoA), AIG, CitiGroup, ad nauseum.

Money very well spent.

[billybob537]

2. Thats why we need the 50% tax rate.

[izquierdista]

7. Make that 70%

What it used to be 50 years ago, when the country was still on the way up.

[infidel dog]

14. I'll second that.

[AndyA]

3. I want one of those jobs.

You know, where they pay you an outrageous sum of money to show up for work, then when you run the company into the ground because you're ignorant/greedy/crooked/all of the above, you not only get to keep your job, but you get huge bonuses, stock options, use of the corporate jet for family vacations, etc.

Anyone know where to find one of those jobs? There seem to be quite a few of them around, from the looks of things. :shrug:

[Flirtus]

5. where $8,000,000 is a slight increase... n/t

[hertopos]

6. I am a little supprized...

That this news does not attact DUer's attention.

For the last few days, WS and it's supporting media was in serious offensive on OBAMA.
Luckily, by now, majority of Americans became wide awake.

I saw one of CNBC talking head defending Merill's bonuses.

It is like there are two very different forces working within WSJ.
Best and worst articles and reports regarding financial industry alwasys come out form WSJ.

This news can make new tax fairness and 500k pay cap for TARP money takers very passable now.

I have not posted DU for a long time since I was very depressed by infights amoung Democrats.

Now, it's time to move everything to the left. Our left is still so far right of everyone else.

I am sure this very smart WH PR will make a best use out of this big revealation.
They can force BOA to release all the information.

Hertopos

[dkofos]

8. WOW Enough to pay 3500 worker bee's 60k a year

[TBF]

9. DU is distracted by the right wing acting out (which I have to admit

is pretty funny), and haven't focused on this. But everyone should. K&R

[jaspatk1701]

10. Chutzpah and Greed: Ruin Our Company? We Make Millions

The gall and gumption of their assumption: that the U.S. public will sit back and take this, as our houses sink underwater, our retirement savings disappear and the economy deteriorates into a Depression, all driven by the greed of company men who packaged and sold not only mortgages, but credit cards, student loans, and every debt instrument conceivable for quick millions at our expense.

We as a nation must ask ourselves, what shall we do? With our businessmen having abandoned the fiduciary responsibility they are required by law to reasonably and carefully exercise, making the world of finance an investment casino where the rest of the herd followed for greedy gain -- these titans of industry now strut around with the chutzpah to enjoy millions in stock options and salaries for running their companies and everyone into the ground. Like they have, we the public, must break uncharted territory: legislate real clawbacks -- take back the fraudulent billions in bonuses and salaries and give them to the victims whose homes and lives are sinking. I hope some senator or rep. has had the guts to introduce such a bill, though labeled socialist they would be. What's so socialist about getting recompense or remedy for being cheated out of your home and pursuit of happiness? It happens all the time, in court, in mediation, in arbitration, in lawsuits settled both in and out of court. Answer: if the wealthy or bankers or big businesses have to pay from their own pockets, then it's socialist! Again, enact a law establishing clawbacks nationwide and a fund to distribute it. Let's also begin by shedding light on these practices, open a thorough investigation! For more, see my blog at http://www.wrathofmcgrath.com

[Spaceman3]

11. Um hello

Where were all of the rabid anti-Wall Sreet people when Rahm Emanuel made $16 million in two and a half years as a banker on Wall Street?

Didn't anybody see that Rahm was the number one recipient of contributions from hedge funds, private equity firms and the broader securities and investment industry in the House of Representatives in 2008?

[Thothmes]

12. To justify that level of pay

I wonder how much business (in dollars) they brought to the business.