Our Wall Street betters are most upset about not receiving their usual bonuses–even though the earnings outlook isn’t rosy:
Leon Cooperman, the first Goldman Sachs Asset Management CEO and head of hedge fund Omega Advisors Inc. in New York, said Wall Street has been “excessively” blamed and President Barack Obama has “continued to project himself as anti-wealth, anti- business and socialist in his leanings.”
Phelan said he’s worried about “social unrest.”
“My taxes are going up,” he said. “Everybody hates me. I have two friends who bought land in New Zealand. They’re trying to convince me to go.”
He isn’t planning to visit.
“I’m not one of those extreme people,” he said….
Bankers aren’t optimistic about those gains. Options Group’s Karp said he met last month over tea at the Gramercy Park Hotel in New York with a trader who made $500,000 last year at one of the six largest U.S. banks.
The trader, a 27-year-old Ivy League graduate, complained that he has worked harder this year and will be paid less. The headhunter told him to stay put and collect his bonus.
“This is very demoralizing to people,” Karp said. “Especially young guys who have gone to college and wanted to come onto the Street, having dreams of becoming millionaires.”
Tragic. Kinda like this. Or not so much. But because we like helping and we feel the Street’s pain:
For those of you keeping score, this is not envy, it’s contempt. There’s a difference.
Er, “chuffed” means pleased.
Otherwise, I’m totally with you.
Tell you what, over-privileged Wall Steet fuckwad. Go down to those protests and offer to trade your problems with those of one (or 8) in the crowd and see who takes you up on it. Maybe you’ll realize what real suffering is and STFU.