A Banker’s Progress
By Barry Ritholtz - March 1st, 2010, 8:00PM
Doonesbury had a funny strip Sunday titled “A Banker’s Progress“.
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Ernst adds: “You’ve probably heard about those well-known curious collective terms for groups of animals, e.g. flock of seagulls, murder of crows, etc. A British friend shared the following snarky one for “group of financiers”, in which the B and W can be exchanged and still leave the phrase descriptively apt: A “Wunch of Bankers”
March 1st, 2010 at 8:59 pm
Oh Well! Another day another $200,000 (if your a GS banker)
March 1st, 2010 at 9:00 pm
Oh Well! Another day another $200,000 (if you’re a GS banker)
March 1st, 2010 at 11:15 pm
@ Cynic
Amen!!
If I were still working for the Bank-That-Shall-Not-Be-Named, this would be up on my cubicle wall in the morning where it would find a comfortable home with several dozen Dilbert strips.
When I worked there I could always tell who the realists were by the number of Dilberts posted at their work stations. I mentioned this to a friend who does a lot of consulting work in the EU and he told me of a friend and sometimes colleague who has developed a basic Dilbert Index which he determines when he goes into a firm for the first time.
The more Dilberts he sees posted, the bigger the trouble the company is in. It has not failed him yet.
What I don’t know is whether he bothers to do a detailed analysis as to whether particular Dilbert strips preponderate and, if they do, whether they indicate those parts of the company most in need of sorting out…
So it goes…
March 2nd, 2010 at 3:09 am
[...] – A banker’s progress. [...]
March 2nd, 2010 at 8:43 am
March 2 (Bloomberg) — GMAC Inc., the auto and home lender that hasn’t cracked a profit since 2008, gave Chief Executive Officer Michael Carpenter a pay package rivaling that of Goldman Sachs Group Inc. CEO Lloyd Blankfein, who runs the most profitable securities firm in U.S. history.
GMAC paid Carpenter about $1.2 million for the month-and-a- half he was employed by the Detroit-based company last year, equivalent to full-year pay of $9.5 million, according to a regulatory filing today. Goldman Sachs paid Blankfein $9.6 million for 2009.
GMAC isn’t even a real bank, they morphed into a bank to get US bailouts and now they’re one of the immortal 19 and shit like this still happens. They should have gone into BK nad been liquidated
March 2nd, 2010 at 8:46 am
2009 was was a very good year.
Central bankers moved heaven and earth to save their codependents and this entitled their execs to bonuses of course. Time to storm the castle!
March 2 (Bloomberg) — Chancellor of the Exchequer Alistair Darling urged pay restraint and moderation from U.K. banks, and still they raised compensation.
Barclays Capital, the investment-banking unit of Barclays Plc, increased its pay and bonuses per employee by about 93 percent in 2009, according to company filings.
March 2nd, 2010 at 9:06 am
A perfect description.