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"Worst. Recovery. Ever." Except For Bankers

Tyler Durden's picture




 

For most (practically all) Americans, this is officially the worst recovery ever. As we pointed out previously, wage growth has never been slower in a post World War II recovery. However, not everyone is hurting...

  • *GOLDMAN SACHS SAID TO RAISE JUNIOR STAFF'S SALARIES ABOUT 20%

This comes just weeks after Morgan Stanley announced it would raise junior banker salaries by 25%.

Things are troubling...

 

But not for the bankers... (as Bloomberg reports)

Goldman Sachs Group Inc. will increase 2015 salaries for junior employees in the U.S. by about 20 percent, according to a person briefed on the decision.

 

The raises will apply to employees with the title of analyst across all divisions, said the person, who asked not to be identified speaking on personnel matters. Analysts are typically recent college graduates.

 

Morgan Stanley is raising salaries for junior bankers worldwide by about 25 percent, a person briefed on the matter said last month. That change only applied to associates and vice presidents in the investment banking and underwriting units.

 

The New York Post reported on Goldman Sachs’s pay increases earlier today.

*  *  *

It appears President Obama's hopes for 'fair, livable' minimum wage is
being heeded by the banking community - good patriots, they are.

 

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Wed, 08/20/2014 - 10:46 | 5119850 pods
pods's picture

Doing God's work ain't cheap.

pods

Wed, 08/20/2014 - 10:49 | 5119869 NotApplicable
NotApplicable's picture

I think we need to inagurate the first global holiday, "Kick a Bankster in the Nuts Day."

Wed, 08/20/2014 - 10:58 | 5119918 Latina Lover
Latina Lover's picture

Too bad ISIS beheaded a jounalist instead of a bankster. Can you imagine the global cheers

Wed, 08/20/2014 - 11:01 | 5119928 GetZeeGold
GetZeeGold's picture

 

 

 

Here's your bonus.....might want to keep it to yourself.

 

We sorta borrowed it from everyone's grandkids.

Wed, 08/20/2014 - 11:11 | 5119990 WhyDoesItHurtWh...
WhyDoesItHurtWhen iPee's picture

Raises for all the "Anal-ists".  lol

Wed, 08/20/2014 - 12:15 | 5120372 Simplifiedfrisbee
Simplifiedfrisbee's picture

"Fux you and you muthaphuxin momma, we gone kil all you muthaphukas. Now when we came out, we told you it was just about Benny but everybody had to open their mouth with their muthaphuxin opinion. So this is how we gonna do this: Phuck Ben Bernanke, Phuck Jamie Dimon, Phuck the federal reserve as a corporation, bank, and as fake Masonic Jews. And if you wanna be down with the Fed Reserve, then phuck you too. Belgium, Phuck you too. All you muthphuckas, Phuck you too, All of y'all muthaphuckas Phuck you too, Phuck you, die slow muthaphuckas, our 44s make sure all your kids don't grow."

Wed, 08/20/2014 - 11:11 | 5119991 MonsterBox
MonsterBox's picture

Exceptional

Wed, 08/20/2014 - 11:16 | 5120016 Say What Again
Say What Again's picture

I just got a bonus of $250,000, now what am I going to do?

How about I buy some more SPY

.

No wonder the SP500 & NAS keeps going up regardless of every other piece of news.

Wed, 08/20/2014 - 12:07 | 5120318 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

Financial services employee bonuses are but the smallest fraction of the fed's limitless printing.

$250k bonus is chump change, for the record.  Kids 2-3 years out of grad school will make that much at the bulge bracket shops. 

Wed, 08/20/2014 - 11:28 | 5119957 Dr. Richard Head
Dr. Richard Head's picture

The one thing that really irritates me about ZH these days is that posters here are justfiying the shooting of Brown in Ferguson (a large black man that was being harassed by the police for nothing more than walking in the street outside of the crosswalk area), meanwhile the banksters are not only getting away with the theft of everyone's purchasing power without any meaningful prosecution, but are also getting in the front of the line for wage growth.  The fucking banksters are responsible for a HUGE increase in the amount of homelessness (thanks to fraud foreclosures, rehypothicated mortgages, and loan origination out of thin air) and a HUGE increase in poverty, as capital is now flowing to the LEAST productive sectors in our economy (FIRE).  The inequality of wages and the inequality of our "justice" system is causing this societal upheaval.  I would be pissed too if I were a broke ass, homeless nigga that gets harassed by the po-po every day. 

The banksters have to be taken out, but the police force focuses on the plebes and not the thieves.  I hate this fiat system of serfdom.

Wed, 08/20/2014 - 11:28 | 5120081 Caggge
Caggge's picture

I think we need to inagurate the first global holiday, "Kick a Bankster in the Nuts Day."

 

I prefer hang a bankster by the nuts day.

Wed, 08/20/2014 - 10:50 | 5119870 PartysOver
PartysOver's picture

Are we sure this isn't Obama trying to create another crisis for political advantage?  Just asking.

Wed, 08/20/2014 - 10:56 | 5119904 Sudden Debt
Sudden Debt's picture

France it's debt has just crossed the 2 trillion mark, maybe that's why they get the payraise?

TARGETS!! => BONUSSES!

Wed, 08/20/2014 - 11:01 | 5119939 BurningFuld
BurningFuld's picture

They will be working double overtime to arrange all that "financing".

Investment Banking..that's when you give your money to a Bank and never see it again.

Wed, 08/20/2014 - 11:04 | 5119950 SHEEPFUKKER
SHEEPFUKKER's picture

Longing for another bankster suiciding. It's been a while. I have a short attention span. 

Wed, 08/20/2014 - 11:35 | 5120116 Ban KKiller
Ban KKiller's picture

Nailguns all around! Elevators to the top floor! Hiking on steep mountain terrain! 

Death, by law, to banksters and their stooges, the attorneys and, yep, the secretaries helping them. No excuse to do evil...I don't care if it does feed your family. 

Wed, 08/20/2014 - 11:10 | 5119988 williambanzai7
williambanzai7's picture

Wed, 08/20/2014 - 11:52 | 5120210 tarsubil
tarsubil's picture

Escorts and coke dealers are doing well also. Not sure if this is all connected.

Wed, 08/20/2014 - 10:48 | 5119851 LawsofPhysics
LawsofPhysics's picture

If you want to rob a bank (or get a taxpayer-funded bailout), you need to do what GS did and become a bank.

 

"Full faith and credit"

 

tick tock...

Wed, 08/20/2014 - 10:53 | 5119888 the not so migh...
the not so mighty maximiza's picture

I still can't find an GS ATM machine.

Wed, 08/20/2014 - 10:54 | 5119896 pods
pods's picture

It's called the FED.

Oh wait, I thought you meant the one GS uses.

pods

Wed, 08/20/2014 - 10:49 | 5119852 Latina Lover
Latina Lover's picture

Of course the banksters are doing just fine. Who wouldn't  be after being bailed out for 17 trillion by the taxpayers of the world? Ever wonder where the money comes from for countless and endless  wars?

Wed, 08/20/2014 - 10:51 | 5119872 Sudden Debt
Sudden Debt's picture

well, it's comes from here: AMERICA'S GOLDEN CAVE

 

Wed, 08/20/2014 - 10:49 | 5119861 Sudden Debt
Sudden Debt's picture

Work hard, play hard...

and for the rest of the lazy people who don't contribute to the real economy...

Wed, 08/20/2014 - 10:49 | 5119863 Dubaibanker
Dubaibanker's picture

Vampire squid along with Shittybank and Shattered Chartered bank are taking everyone for a ride!

Wed, 08/20/2014 - 11:07 | 5119969 disabledvet
disabledvet's picture

"The Bailout Tycoons." Everything thinks they're getting paid when in fact they're getting played...

Wed, 08/20/2014 - 11:15 | 5120008 Dubaibanker
Dubaibanker's picture

April 11, 2013: Citi sells Turkey operations and exits Turkey

Citigroup Sells Turkish Consumer Unit as It Pares Global Operations

April 4, 2014: Citi sells Spain operations

Popular to purchase Citibank’s retail banking business in Spain

June 13, 2014: Citi sells Greece operations

Citi Announces Agreement to Sell Consumer Bank in Greece

19 Aug 2014: Citi is exiting Japan

Another QE Casualty: Citibank To Quit Japan's Retail Market

Next in line is Argentina.

So much for US banking hegemony!

Wed, 08/20/2014 - 11:42 | 5120146 Bunga Bunga
Bunga Bunga's picture

Great growth strategy. Young banksters should better learn a real job.

Wed, 08/20/2014 - 12:01 | 5120274 Dubaibanker
Dubaibanker's picture

True that.

Anyone who does not provide real value for their clients, be it in banking or any service industry or several manufacturing industries (Japanese electronics, Motorola, BB, thousands of restaurants etc are good examples aside from Enron and Nortel etc) will get no opportunity to earn any money.

Even slaves will need to find a master who can afford to pay them. Because now even the masters are getting into more and more trouble and running short of money due to demand destruction (due to job losses) and lack of bank lending.

Wed, 08/20/2014 - 10:53 | 5119892 yogibear
yogibear's picture

You better believe their patting each other on the back and getting huge bonuses.

Wed, 08/20/2014 - 10:56 | 5119906 nakki
nakki's picture

How else is one supposed to pay for that 2.5 million $$ 1600 sq ft upper east side condo, and send ones children to a 50k prep school.

Wed, 08/20/2014 - 11:06 | 5119965 RaceToTheBottom
RaceToTheBottom's picture

Got to prime the pump for the next generation of Banksters...

Wed, 08/20/2014 - 11:11 | 5119989 ebworthen
ebworthen's picture

And the jewelry and shopping habits of the Wifey!

Wed, 08/20/2014 - 11:50 | 5120196 Bankster Kibble
Bankster Kibble's picture

Tsk. Slumming.

Wed, 08/20/2014 - 10:57 | 5119908 q99x2
q99x2's picture

Arrest the fascists. End the FED. Prosecute them for acts of financial terrorism.

Wed, 08/20/2014 - 10:59 | 5119925 Bill of Rights
Bill of Rights's picture

Sounds great in theory, but they've paid off the local Law Enforcement, they own the Judges as well as the courts, and above all no one has the balls to step up and Prosecute in fear of becoming another headless victim.

 

Wed, 08/20/2014 - 10:57 | 5119910 JailBank
JailBank's picture

Damn it feels good to be a bankster.

Wed, 08/20/2014 - 10:57 | 5119912 RattNRoll
RattNRoll's picture

And.....laughing all the way to the bank no pun. Think it sucks now? Wait 5 more years.

Wed, 08/20/2014 - 11:01 | 5119933 e_goldstein
e_goldstein's picture

Any word on JPM junior banksters; or is that money being vacuumed directly into Jamie's throathole?

Wed, 08/20/2014 - 11:01 | 5119940 RaceToTheBottom
RaceToTheBottom's picture

We need a new term for going postal, it will no longer apply to just postal workers.  Pretty much everyone but banksters.

"He went "non Bankster"?

Not sure that works

"He went "full serf"?

closer....

Wed, 08/20/2014 - 11:08 | 5119976 goldhedge
goldhedge's picture

Bullet meet banker.

Wed, 08/20/2014 - 11:10 | 5119985 Dre4dwolf
Dre4dwolf's picture

When people get torches and pitchforks and burn this sumabitch down I wonder how much these clowns will be laughing then...lol

Wed, 08/20/2014 - 11:32 | 5120103 greatbeard
greatbeard's picture

>> When people get torches and pitchforks

People aren't going to do Jack Chit.  In this country you don't do nothing until you've got nothing left to lose, see Ferguson.  And when you rise up, everyone turns on you.  The media and the police are in full control.  The path ahead is pretty clear.

 

 

Wed, 08/20/2014 - 13:34 | 5120865 Toolshed
Toolshed's picture

" In this country you don't do nothing until you've got nothing left to lose, see Ferguson."

 

Exactly. I think you are underestimating how many citizens are approaching that point.

Wed, 08/20/2014 - 11:11 | 5119995 Kaiser Sousa
Kaiser Sousa's picture

better be handing out bullet proof vests as well...
i bet u they wont be claiming their "set" in the coming days.....

Wed, 08/20/2014 - 11:17 | 5120027 RaceToTheBottom
RaceToTheBottom's picture

Remember in the first days after the crash, all WS Bankster CEO were clamoring for more personal protection from NYC police.  Also donating 100s of thousand dollars to fund specific details for WS protection.

They were afraid it was going to happen then.  They must feel pretty secure now after watching Ferguson...

Wed, 08/20/2014 - 11:19 | 5120041 Kaiser Sousa
Kaiser Sousa's picture

i do remember...
they will be hiding their their profession i guarantee u...
gated communities will offer no refuge...

Wed, 08/20/2014 - 11:25 | 5120066 atthelake
atthelake's picture

I can't understand why some of the leaders are still alive.

Wed, 08/20/2014 - 13:33 | 5120844 Toolshed
Toolshed's picture

Only because making them martyrs would be even worse. Can you imagine flying into the Obungho International Airport? Ewwwww, shudder........puke.

Wed, 08/20/2014 - 11:20 | 5120050 ThroxxOfVron
ThroxxOfVron's picture

Did Morgan Stanley and Goldman Sachs raise the shareholder's dividends by 25% as well ?

Wed, 08/20/2014 - 11:30 | 5120093 Atomizer
Atomizer's picture

I will save this link. When the Banking industry needs a new bailout, the link will be reposted. Castration will be forthcoming. Cigar burns and a towel of oranges. 

LLoyd, they will come after you, not the junior partners. Media will draw a map to your home. Everyone knows when you receive ZIRP and recirulate back into the market at 1- 10% interest rate. You're not doing gods work, you have become a corporate loan shark wanker.

What a despicable piece of shit you have turned into. If I would use the same fraud model, counterfeiting taxpayer money. I would be in jail for life. 

You walk around without prosecution. When we diversify out of the USD, the media map will find you in a uncomfortable situation. 

Stop this madness Lloyd, let the chain reaction begin. Better than late 2015, early 2016. Stop waiting for him to die of natural causes, the public will have already figured it out beforehand. Food for thought. 

Wed, 08/20/2014 - 18:13 | 5122364 Idaho potato head
Idaho potato head's picture

"What a despicable piece of shit you have turned into. "

Turned into? The bastard was created this way in an illuminati laboratory.

Wed, 08/20/2014 - 11:54 | 5120227 Billy Shears
Billy Shears's picture

Great opportunities abound for waiters at the posh Manhattan watering holes. That is if you have the nerve to quit your cushy gig at Mickey-Ds!

Wed, 08/20/2014 - 11:55 | 5120230 Farmer Joe in B...
Farmer Joe in Brooklyn's picture

Almost as good as .gov jobs now....

Wed, 08/20/2014 - 12:33 | 5120480 world_debt_slave
world_debt_slave's picture

sucks to be us, commoner

Wed, 08/20/2014 - 13:20 | 5120762 Chuck Knoblauch
Chuck Knoblauch's picture

I don't refer to them as bankers anymore.

They are targets.

Consider the 20% raise hazard pay.

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