Tip:
Highlight text to annotate it
X
bloomberg is doing this really excellent series on wall street bankers and what
aspect of other series of they're focusing on is at the cut in the bonus
is that these top executives are getting paid now these wall street firms in
these banks are making less revenue and as a result they're giving out lesson
bonuses and look these executives are really really hurting making and they
share their experience uh... in bloomberg
so i think the article out one of
the people quoted is at its hot henderson is a law professor whose only
making a measly two hundred fifty thousand dollars a year nobody's here
bureaus idon't i don't know how he's making it i'd just don't know he says
add that yes tropical diseases are worse than getting the flu
but you've suffered when you get the flu
well you do indeed
i had the flu and out
hey you know what it's not quite uh... you know cancer
but i am suffering you're really suffer ok but let's council hope all of these
cases no sense of perspective right
you if you break into a river two thousand rose shoes
it's okay to obtain again gotta cut back a little bit
and i know it hurts you because you got used to it it's uh... i get it
just shosh
located
don't go around whining about but you know what it is and it's the number one
thing that annoys us we've talked about this before it's that sense of
entitlement right
you make good money at some point in your life and you think that that money
is going to continue to flow throughout the rest of your life regardless of what
you do so you go out there you make extravagant purchases you put all your
kids in private school which is a backing dole give iraq but then you buy
like a rental property and the hamptons and then you buy like some vacation
property in florence and you're like what we're going to do
analytically two hundred fifty thousand dollars a year california rental
property in florence it with no but that's little so let me give you some
examples here
ager shift as well because they're talking about him
he uh... is the financial industry
and he learns through thirty thousand dollars mintues after taxes
that's about two hundred thousand on staff after taxes jordan it money right
advertised
so he's maybe three hundred fifty nos overall right but he's got uh... kids in
private school in kent connecticut
uh... he's got a summer rental
anyone to upgrade is one that million-dollar house
but he says this in new york so the brown so it is
but even that large and i like to have a larger i have is exact quote on that
because he says i'm crack
into one thousand two hundred square feet
i don't have a dishwasher we do all our dishes by hand it's only a
one-and-a-half billion dollar house was important heavily wouldn't necessarily
have the money for remodeling though
appeal it back
and i'm not saying in the richest kind new york i get a there are much larger
houses in new york annual people's some people are so great to have to worry
about the private school for their kids of this error rental
but you can't complain about your summer rental you just you
be on the although we won't have a summer rentals okay they don't have a
lot of that million-dollar house they don't make three hundred thousand
dollars yet give some sense in your head
but they don't think relief then that what they're talking about is
i do really sad sob story
like in their placement or understand that there's more i'd just love these
quotes pitches golden ok another wall street executives set
on a recent sunday he dropped the fairway market in the records section of
brooklyn to buy discounted seven for five ninety nine account
all know did not have a sad
during your are believes is the he says it gets worse as more tragic
he says he's no longer or
go that is in your skip this teachers
to whistler tahoe or aspen
doomed if we could
not if you're not going to ask you wouldn't do
saying that but i know you lose any trip
oh detonator skiing in the poconos people too
come on and you see that for the press
i think like tom and i was a good story
well i got that off my chest they're really fill some of the permit hangout
to marc watts for you
people don't have money
don't understand the stress
all right
doctoral
so i think before we leave
here actor let's look if you don't know you don't understand how much is stress
was us to have all of this money
on your idoc
i'm going to be okay
and uh... you know if you lose some of the money and then you can put up as
well
over how to come back in the summer rental
but you'll never understand i tried to obstruct who
how do you do not want to scream said is that these people
have some sense then it won't want unicycle ally ceases its chief executive
officer
of the new york braced research firm i_d_ w
the loser headhunters put all these
guys that in in these who could have jobs
and indeed it
bankruptcy very handsomely for that too
he says quote
it's a disaster
the entire construct of composition was trade
if they're pulling teeth return fifty thousand dollars a little while one must
also do
how and when i get my standard
at looking at you people uh... you gotta make that a wake up to the rest of the
world man
the median household income in this country is forty nine thousand dollars
okay
and unemployment averaged averages lower actually the media's forty nine thousand
any have people get less than that you know that fifteen percent this country's
below the poverty line
actually recorded action drove me the craziest
said if you're making fifty thousand in your seller gets down to forty thousand
and you have to cut dispersive really
but it's no less severe to these other people
with these big numbers link the wall that's not true at all
if you mean five hundred thousand against cut the four thousand
you want the best pictures you want to send a private school side you might not
be able to do that it hurt you and i think that's unheard right
principles and hurt as much
for as as a person who is from fifty to forty thousand
then you might not be within your kids are going to have any chance you got you
might not be able to afford to rent adept very very modest apartment
the i mean you can't before the flood of tells you how much stress that puts you
under
this we're not talking about your diagram summer rental year when you get
cut from fifty to forty thousand and the fact that they don't understand that is
i think the biggest problem
definitely and you were talking about the necessities
for survival when it comes to the middle-class and working-class in this
case we're talking about luxury we're talking about things that you do for
pleasure and you can live without those things one-in-five americans at this
point cannot afford to put food on their table it's too expensive for that
i mean i wanted to just get the five ninety nine uptown sam
america had to travel to a different part of broken again
hello dismisses that might have