Just another Reality-based bubble in the foam of the multiverse.

Tuesday, April 20, 2010

retention incentives

The vampire squid tries to tighten its grip...

...As if to put the icing on the cake, the investment bank Goldman Sachs is set to shell out another $5 billion in bonuses to employees.

What's more, the bonuses are expected to cover the employees' work for just the first three months of the year, according to the UK Sunday Times.

According to the report, bankers will receive remuneration of about $170,000 per person for the firm's 32,500 employees. Some traders are set to receive millions.

Earlier this year, Goldman's "junior" bankers were told they'd begin receiving salaries that were double their previous takes.

"It's made me rethink everything," a Goldman Sachs employee, "sipping champagne," told the site. "I like the new structure even better. My monthly take home just went way up..."

Of course, there is also the "we wouldn't want anything to happen to your nice new Recovery" tack brother Jamie takes.

The only problem is that no one outside Larry Summers' office actually believes that. For economic blackmail to work there has to be something worth saving. Increasing the cognitive dissonance by trying to sell a Recovery while real inflation of consumables, deflation of real estate, rising interest rates, and increasing unemployment hit every one is bound to lose you support.

And financial reform?

People are starting to notice the health care reform actually makes the working poor worse off.

Nobody trusts the Oborg to do anything but hold the bags for the highest bidders.

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