bigi
Platinum Member
- Aug 8, 2001
- 2,488
- 155
- 106
Good for him. What about those who make $500,000 a day? You going to complain too.
Get a job your bum.
Good for him. What about those who make $500,000 a day? You going to complain too.
Get a job your bum.
ky54
Senior member
- Mar 30, 2010
- 532
- 1
- 76
Government controlled wages are the answer, eh? Ask Nixon how well that went. BTW - the guy who spent 17K on his dogs? You control his wages so he only makes, what, minimum wage, and the dog people go out of business as does the guy who tends his yard, home builders, boat builders, etc, etc, etc. I always wonder if there's any part of the economy the class-hatred folks will allow to survive the massive communist swing they want?
IndyColtsFan
Lifer
- Sep 22, 2007
- 33,655
- 687
- 126
I personally think Wall Street bankers are probably among the most overpaid people, but no, government-controlled wages aren't the answer. I think most people are laughing at this guy because he obviously has no clue how the real world works and how most people live. He is in the top 1% and complaining about expenses that he has full control over. That's what pisses people off.
MrPickins
Diamond Member
- May 24, 2003
- 9,068
- 700
- 126
I don't think you understand.
This thread isn't about how rich people suck, it's about how rich people who complain that they don't have enough money suck.
Isn't ideology amazing?
Didn't know know that every dollar the private sector pays is justified and 'fair'?
KeithP
Diamond Member
- Jun 15, 2000
- 5,661
- 199
- 106
I certainly don't care about this guys financial problems, there are much bigger problems to worry about.
For instance, when others try to make me angry about what someone earns, like that somehow limits my potential for success, so I will support their ludicrous wealth redistribution ideologies.
-KeithP
For instance, when others try to make me angry about what someone earns, like that somehow limits my potential for success, so I will support their ludicrous wealth redistribution ideologies.
-KeithP
kranky
Elite Member
- Oct 9, 1999
- 21,015
- 139
- 106
The guy who said, "People who don't have money don't understand the stress" is probably being truthful. In that world, there is tremendous stress to not lag behind in material possessions and in making your friends, coworkers and neighbors aware of your ability to spend lots of money.
Their conversations revolve around new purchases, expensive vacations, cosmetic surgeries, other types of #onepercenterproblems and how elite your kids' schools are. If you can't keep up, you won't be included in future activities. It's all superficial, but it's the most important thing to them.
Imagine your wife being unhappy that your family vacation won't be something they can be proud to bring up at the next BBQ. Your kids getting teased because they can't stay in the "rich people's school". Here you thought you were very successful, but now your peers see you as a failure. You only make $350,000 a year. You have to drive a 3-year-old car. You know people in your neighborhood are looking down at you.
That's the world they wanted, they fought to get there, they wanted to live a showy lifestyle, now they feel embarrassed they have to buy 10-year-old scotch instead of 18. I can not work up even a shred of empathy for them. I feel bad for the families who probably don't have any real friends and will find themselves ostracized because Daddy can't keep up any more.
Their conversations revolve around new purchases, expensive vacations, cosmetic surgeries, other types of #onepercenterproblems and how elite your kids' schools are. If you can't keep up, you won't be included in future activities. It's all superficial, but it's the most important thing to them.
Imagine your wife being unhappy that your family vacation won't be something they can be proud to bring up at the next BBQ. Your kids getting teased because they can't stay in the "rich people's school". Here you thought you were very successful, but now your peers see you as a failure. You only make $350,000 a year. You have to drive a 3-year-old car. You know people in your neighborhood are looking down at you.
That's the world they wanted, they fought to get there, they wanted to live a showy lifestyle, now they feel embarrassed they have to buy 10-year-old scotch instead of 18. I can not work up even a shred of empathy for them. I feel bad for the families who probably don't have any real friends and will find themselves ostracized because Daddy can't keep up any more.
ky54
Senior member
- Mar 30, 2010
- 532
- 1
- 76
The guy is complaining because he's blocked by artificial barriers based not on his abilities but rather by our government. I'm guessing those who don't understand the problem probably are the biggest victim of Obama's class-warfare rhetoric.
IndyColtsFan
Lifer
- Sep 22, 2007
- 33,655
- 687
- 126
What government barrier would that be? If you're saying that there was some sort of limitation on bonuses for bailed out firms imposed by the government at one time, why shouldn't there have been? These banks failed and the taxpayers bailed them out. If these guys don't like it and are really so "talented," they should be able to go get another job with higher pay. Right?
When the rest of us suffer a decrease in wages (due to pay cuts, no raises coupled with inflation, etc.), guess what? We make the necessary cuts.
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He and a lot of other bankers on wallstreet wouldn't have a job if it wasn't for government bailouts.
What artificial barriers are you referring to, please provide links.
SlitheryDee
Lifer
- Feb 2, 2005
- 17,252
- 19
- 81
highland145
Lifer
- Oct 12, 2009
- 43,872
- 6,234
- 136
Texashiker
Lifer
- Dec 18, 2010
- 18,811
- 197
- 106
Hyperbole much?
JHumeC. But yes, we're communists for calling these people assholes for complaining about shit like this.
No shit.
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rh71
No Lifer
- Aug 28, 2001
- 52,844
- 1,049
- 126
- Feb 22, 2008
- 3,435
- 1
- 0
I see the trolls coming out hardcore. I Don't give a crap how much someone is making we all have the same opportunities. Poor people have become billionaires, that is not the problem. My problem is don't complain about it when you can easy can afford to cut back and live with in your means. These type of people have it much easier to so it. The middle class on the other hand do not have it that easy. Cutting back for the middle class can mean much bigger consequences. The rich guy will only have to down size to a $25,000 car, send his kids to public school, a smaller house and commute in to work where as the middle class was already doing that.
sunzt
Diamond Member
- Nov 27, 2003
- 3,076
- 3
- 81
WTF? What kind of crap food is his dog getting with only $17,000? Worthless fking bum doesn't treat his dogs right. Might as well go back outside and shotgun the dog if he's gonna give it such a cruel life.
You gotta spend $170k (minimum) per dog to hire proper chefs (only executive chefs, no fkin skilless sous chef bums), buy food from whole foods (at worst), clothe their nakedness, maintain their doghouses (one on the front, one in the rear, and one for their storage), and the servants to take care and play with them.
Anything less is inhumane. Fkin poor bastard shouldn't be allowed to take care of dogs... only $17,000 ...... pathetic.
TheAdvocate
Platinum Member
- Mar 7, 2005
- 2,561
- 7
- 81
This discussion is incredibly uninformed, and thus the anger is a little misplaced.
Right away, let me assure you that I am not going to defend someone making $350k. But I want to illustrate what is happening to the average joe in banking... the guy making I dunno 50-75k, with a good degree, experience, a mortgage, etc.
That's the profile of most banking officers, and yes, there are thousands of banking officers in a typical large bank, avps vps, etc in a bank, and yes the title system is stupid and mostly meaningless.
The higher you climb that officer ladder, or the more sales oriented your job is, the higher the % of your compensation is incentive (bonus) based.
This year, the average joe at a bank, with limited, if any, options to find a job at a competitor, has had to absorb two unannounced double whammies to their "total compensation" packages (TC = Salary+ benefits + incentive):
1) Most of the banks (and many other corps) have move from traditional insurance plans to high deductible HSAs and HRA plans, which would be fine, but they cost the same as last year's zero or low deductible insurance plans. The reason the cost is the same isnt just the rising cost of healthcare, it's because the bank used to buy down those deductibles, and it was a form of compensation. They stopped doing that, and it caught most of the employees off guard (most thought they'd have slightly higher deductibles or like a 10% price increase on the same old plans). What this means is that the average primary wage earner under one of these plans, now has to meet a deductible of up to $6,000 annually for a family plan. Grossed up, that is equivalent to about a $7500 compensation cut. A "pay" cut.
2) Then, the banks, despite posting record profits, have cut bonuses, by anywhere between 20 and 40% on average. On a $10K bonus (and realize, the employee performance to earn that bonus hasn't dropped in most cases, the employees have met their goals or at least worked like dogs to get close), that's another $3k or so cut.
Add those two up - that's a $10K+ compensation cut to the average banking employee. $10k out of maybe $70k or $80k previous total compensation. Not a complete blindside because some was expected, but the scale certainly wasnt. And after they worked just as hard (or in many cases harder) as previous years.
That hurts. That's not about "rich" folks. That's a hit to hundreds of thousands of families all across the country, and that's money that is not going back into their local economies for consumer goods (cars, appliances), contractors (we're finally getting a new fence/AC unit/water heater this year), modest beach/mountain/disney vacations, etc. So it in turn radiates outward to other industries/families/communities. You can bet it will have a measurable effect on both contractors and any tourist or vacation destination,a s well as all retail.
The kicker is that aholes at the top of the food chain will still get taken care of. Oh no, the CEO only got a $10Mil bonus instead of $20Mil. Scale does matter. He's not going to spend that money in the ecnomy the way that that $10Mil would have been spent if it was distributed out to his average paid employees (and the myth of high bank wages is a myth - most of the overpaid types are all on commission or very high incentive pay).
Sorry to rant about this, but I have a lot of friends and family in the industry, working at several of these banks and they all have the same story to tell. They're getting nailed by huge medical costs for routine stuff under those high deductible plans, while simultaneously getting no raises and having their bonuses chopped, sometimes entirely. It's easy to sneer at them, but it hurts. Some are diving into their savings just to pay necessary medical bills.
Right away, let me assure you that I am not going to defend someone making $350k. But I want to illustrate what is happening to the average joe in banking... the guy making I dunno 50-75k, with a good degree, experience, a mortgage, etc.
That's the profile of most banking officers, and yes, there are thousands of banking officers in a typical large bank, avps vps, etc in a bank, and yes the title system is stupid and mostly meaningless.
The higher you climb that officer ladder, or the more sales oriented your job is, the higher the % of your compensation is incentive (bonus) based.
This year, the average joe at a bank, with limited, if any, options to find a job at a competitor, has had to absorb two unannounced double whammies to their "total compensation" packages (TC = Salary+ benefits + incentive):
1) Most of the banks (and many other corps) have move from traditional insurance plans to high deductible HSAs and HRA plans, which would be fine, but they cost the same as last year's zero or low deductible insurance plans. The reason the cost is the same isnt just the rising cost of healthcare, it's because the bank used to buy down those deductibles, and it was a form of compensation. They stopped doing that, and it caught most of the employees off guard (most thought they'd have slightly higher deductibles or like a 10% price increase on the same old plans). What this means is that the average primary wage earner under one of these plans, now has to meet a deductible of up to $6,000 annually for a family plan. Grossed up, that is equivalent to about a $7500 compensation cut. A "pay" cut.
2) Then, the banks, despite posting record profits, have cut bonuses, by anywhere between 20 and 40% on average. On a $10K bonus (and realize, the employee performance to earn that bonus hasn't dropped in most cases, the employees have met their goals or at least worked like dogs to get close), that's another $3k or so cut.
Add those two up - that's a $10K+ compensation cut to the average banking employee. $10k out of maybe $70k or $80k previous total compensation. Not a complete blindside because some was expected, but the scale certainly wasnt. And after they worked just as hard (or in many cases harder) as previous years.
That hurts. That's not about "rich" folks. That's a hit to hundreds of thousands of families all across the country, and that's money that is not going back into their local economies for consumer goods (cars, appliances), contractors (we're finally getting a new fence/AC unit/water heater this year), modest beach/mountain/disney vacations, etc. So it in turn radiates outward to other industries/families/communities. You can bet it will have a measurable effect on both contractors and any tourist or vacation destination,a s well as all retail.
The kicker is that aholes at the top of the food chain will still get taken care of. Oh no, the CEO only got a $10Mil bonus instead of $20Mil. Scale does matter. He's not going to spend that money in the ecnomy the way that that $10Mil would have been spent if it was distributed out to his average paid employees (and the myth of high bank wages is a myth - most of the overpaid types are all on commission or very high incentive pay).
Sorry to rant about this, but I have a lot of friends and family in the industry, working at several of these banks and they all have the same story to tell. They're getting nailed by huge medical costs for routine stuff under those high deductible plans, while simultaneously getting no raises and having their bonuses chopped, sometimes entirely. It's easy to sneer at them, but it hurts. Some are diving into their savings just to pay necessary medical bills.
IndyColtsFan
Lifer
- Sep 22, 2007
- 33,655
- 687
- 126
To be fair, I think most of the anger is directed at Wall Street, not banking in general.
notsureifserious.jpg
I'm just baffled about this. The guy works in banking, and yet he apparently can't manage his own finances? Its like a foreman or engineer of a construction company that can't figure out how to put in 4 feet of concrete walkway between his driveway and house. Just makes me think he's a moron that has no business being paid that kind of money to do that job.
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