Friday, January 15, 2010

Bank tales

The following appeared today in the Washington Post:
JPMorgan Chase received $25 billion in bailout money in the fall of 2008 at the peak of the credit crisis. It paid back that money in the middle of 2009.
Goldman Sachs didi much the same. Don't you wonder how they earned so much in such a short time. Are they making the same risky investments that got them into trouble in the first place? Certainly the absurd bonuses paid to investment bankers provide the incentives for it.

Reported 20 Jan 2010
Morgan Stanley, revealed today it had set aside $14.4bn for pay and bonuses in 2009 despite showing a net loss

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