Morgan Stanley sets aside 72% of revenue to pay bonuses

[4dsc]

Morgan Stanley is setting aside a huge sum to pay out bonuses despite posting its third consecutive quarterly loss and admitting it is disappointed with key departments.

The US bank's latest results show it is allocating $3.9bn (£2.36bn) for paying out to staff, 72% of its net revenues. That dwarfs the percentage of revenue set aside by arch rival Goldman Sachs, where workers are on track for large bonuses after record results last week.

http://www.guardian.co.uk/business/2009/jul/22/morgan-stanley-to-pay-big-bonuses

Say what??

[ixion]

1. Wall St. mocks Main St.

I really can't believe we allowed these ass clowns to be bailed out. :grr:

[valerief]

4. Unless we revolt violently, we have no say in the matter, I'm afraid. nt

[hobbit709]

2. They won't get the point until the torches and pitchforks come out

[scentopine]

3. A Wink and Nudge from Tiny Tim

Wall Street has been given a green light to continue is sociopathic and predatory behavior.

The duplicity is stunning:

1. Forcing companies to outsource to Asia because you can pay workers for $7/hr

2. Equating their own extraordinarily inflated pay with the need to retain the best people.

Wall Street is a cancer attacking the nation.