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How very kind of Mr. Obama to reward his #2 campaign contributor.
Obama = epic fail
yes...and lets not forget that what would have been ordinary income taxed is now long term cap. gaines taxed.
But, that is OK, we middle class are going to get an increase in the child deduction. Now, if only I had kids and a job too, I would be as happy as the Goldman folks are with the great job the fraternity brothers running the government are doing.
And, you all think all this is some accident?
would be interested in knowing if they were awarded at a discount as well. when I worked at one, now defunked, ib, they were at a 25-30% discount to market price with a 3yr 80%, 4yr 90%, 5yr 100% vesting schedule.
Luck? A real squid makes his own luck.
You don't think they have a 'fix' in on the stock with some well strategized options?
These guys don't play according to market rules. Everything is "arranged".
Don't be too too surprised if some Leap Puts aren't fixing the value of those bonuses at some number that hasn't even been considered yet. And if anything will only be worth more than they now are. the bonus will be whatever they want it to be.
If you really think that they take their bonuses in something as volatile as the stock market then maybe this blog isn't as sophisticated as it usually appears.
All that is going to change this rigged game is when everyone refuses to be a counterparty to anything that they buy or sell. Or if Al Queda decides it's long past time to admit their error, and take down the right building this time. Preferably when there is full 'partners' meeting.
"The unintended consequences of some of this craziness coming out of Washington are breathtaking..."
Unintended? Really? Methinks Mr. Holland makes a reference to a fact not yet in evidence.
Axelrod, Jarrett, Podesta, Ploufe, Soros, and Stern run America right now...Obama's job is just to position his big jug head in front of the camera and read script from a teleprompter.
Perhaps you'd like to consider a post for more than 24 minutes before putting it up. Obama's administration has been working on this announcement for months, according to insiders. They'd had meetings about it long before the MA election
If you think it was merely a coincidence that Volcker was trotted out to stand beside Obama, and announce the Bank Plan (w/o even a FAQ sheet) 2 days after MA and the day GS announced their Q4, then perhaps you are to naive for this Blog (and might i suggest life in present day America, but i digress).
Perhaps you should consider the last 24 months and you might come to the conclusion that there are NO coincidences.
Let's not forget that Obamacare is structured in the same fundamental way. Lots of hot air and an immediate payoff to big Pharma. Obama needs to take an economics course or get his head out of WallStreet's ass.
Obama... I weep for black America. Is this what they fought and died for? Is this what Dr. King wanted? Of course not. Dr. King talked for and from black America - an America ignored. In the 60's seggregation was fundamtentally based on color which brought with it poverty and indifference of "mainstream" America. Over the past 40 years, American society has attempted to re-evaluated its beliefs and role in how it treated a part of what made it a strong country. People talk like black America has succeeded in fulfilling its dream. It hasn't. Black America is now "mainstreet" America. Instead of black America rising to join white America, the "elite" have instead lowered white America to join black America in poverty. It is not without deep irony that the man who would usher in this transformation of an American no longer seggregated by color but of wealth is a black man.
they are going to win because they will push all the comp money to EPS, resulting in the stock going to the moon, and then the administration can channel that public fever towards raising cap gains taxes...given all the goldmanites are probably 83(b) on the stock grant so the gains with be ltcg rate...
Oh, come on. I'm a HUGE fan of Zero Hedge, but this is going too far.
Do we really want policy announcements being timed around when some company or other sets the strike price for options grants?
All of the world's bankers are in Switzerland with their stolen money right now.
That's right, it's Davos-time again.
According to the Wall Street Journal, and I do quote: "Last year, at the height of the financial crisis, many prominent bankers decided against making the trek to Davos. But next week, most of the biggest banks will be represented. Two no-shows from last year, Robert E. Diamond, president of Barclays PLC, and Vikram Pandit, chief executive of Citigroup Inc., will both be there. Goldman Sachs Group Inc. is sending five top executives, led by Chief Operating Officer Gary Cohn. Bank of America Corp. sent none of its top executives last year. This year, new CEO Brian Moynihan, who has made statements expressing remorse for the financial crisis since his elevation in December, will use the opportunity to make his first overseas trip in the post and will attach trips to other European cities to meet clients, regulators and bank employees. Morgan Stanley Chairman John Mack and Josef Ackermann, chairman of Deutsche Bank AG, will attend. One prominent no-show: JP Morgan Chase & Co. Chief Executive James Dimon."
That's one hell of a group of looters, in one place that isn't ... here.
Am I the only one who thinks revoking all of these bankster's passports while they're out of the country stuffing themselves on each other's egos might be the best way to solve today's economic problems? After all, these are the guys who created them. And even if it wouldn't solve them, it sure would be nice to be rattle this bunch of self-inflated toads. Given Swiss law regarding visas, they'd all have to bunk with Roman Polanski while things were sorted out or until they purchased Swiss citizenship.
Revoke the bankster's passports. With a couple of keystrokes by a right-minded State Department employee we'd be shed of the worst bunch of crooks the nation's ever seen. Stay in Davos, you inglorious bastards. Enjoy the caviar and cocaine there - and write when you get work.
Nothing better than sticking your big snout even deeper in the trough! What happened to using average price over last 30 days, etc. which is often used to determine prices for restricted stock, employee stock options?
Can you say gaming the system? I knew you could...
Hot off the press: Obama's planning to help with the "assault on the middle class". He will take money from the middle class and give it to the poor and lower middle class who have kids so that both parents or single parents can work for corporate America at minimum wage. Gee thanks buddy. Nevermind that the world is becoming increasingly overpopulated. More kids = more profitable pyramid for the oligarchs. More free childcare means more minimum wage workers.
This makes no sense.
According to the author: The banks got the better of Obama, because they priced their bonuses the day before his announcement. I'm inferring that Obama's announcement then caused the stock to go down 2% to 4%. According to the author's logic, they got the last laugh because they had already priced their stock at the higher level. However, if the stock went down due to Obama's announcement, then it wouldn't have mattered when they priced the stock. They could have done it two days later and the pricing would have been roughly the same.
It would be like stabbing someone and a few minutes later their laughing that you should have stabbed them earlier. Now, they have less blood from the bleeding that your stab wound caused, so your stabbing them hasn't been effective.
This logic doesn't work!
And now Obama is a movie star? He is in a movie--called "Stock Shock." ... exposing greedy hedge funds and market manipulation. Even though the movie mostly focuses on Sirius XM stock being naked short sold to hell, I liked it because it shows the dark side of Wall Street. DVD is everywhere for sale or rent but cheaper at www.stockshockmovie.com
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