On big banks not giving big bonuses:
“Compared to four years ago its night and day, partially because the regulators are insisting on it…and partly because the supervisory board of banks have said we have got to balance the reward of our senior team with the reward of our long-term shareholders. And part of it is the business model has changed,” a senior investment banker at a major Wall Street firm said.
Notice, nowhere does it say, reward the front line employees who deal with the day to day operation of your business that makes you so much money. Notice, nowhere does it say, reward the loyal customer, with reduced costs. Pfft. THIS is why Occupy Wall Street exists. Because we’re all outraged at the “supervisory boards” and regulators who forget where all this profit comes from.