21 December 2007

The Real Bubble on Wall Street

MSNBC Headline:
Bonuses on Wall Street surge 14 percent
Despite big mortgage-related losses, investment firms still generous

Well, if you can't ride a bubble, you can always live in one. What a fabulous thing to be on Wall Street, positioned to skim just a tiny fraction off of every transaction - what could be more lucrative in a world where $100 trillion in assets moves around?

3 comments:

cce said...

Oh damn, I was kind of hoping all those fat cats would have to endure the jelly-of-the-month-club type of bonus this year.

Vladimir Dzhuvinov said...

You might want to watch Messrs. Bird & Fortune discuss the current subprime "situation" and how things function in the City :)

Ron Davison said...

cce,
if not jelly, than a lifetime supply of cheese logs (which in my case would be 1).

vladimir
That was hilarious - thanks for pointing me to it. In times like, it seems like scathing humor is about the only proper response.