Wall Street Bonus Withdrawal Drives Bankers to the Despair

Started by Faeelin, March 01, 2012, 08:24:01 AM

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garbon

#45
March 01, 2012, 02:08:49 PM
Quote from: CountDeMoney on March 01, 2012, 01:06:20 PM
I find NYC totally fascinating, and would love to live there.  Only thing is, it's full of New Yorkers.

But Marti actually has a point for a change;  in certain professions and at certain levels, you need to look the part, and that costs money.




Doubt that.  Few of my friends here are from New York.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

garbon

#46
March 01, 2012, 02:09:36 PM
Quote from: DGuller on March 01, 2012, 01:26:08 PM
Well, I'm not a social person, so the one advantage it does have is lost on me.  If you're a socialite, then of course NYC is for you.

There's a huge excluded middle between not social and socialite. ;)
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

crazy canuck

#47
March 01, 2012, 02:09:52 PM
Quote from: PJL on March 01, 2012, 02:02:22 PM
Mind you most people on a normal wage who'd answer the questions on the first article would be classified as high beta. So basically they're saying most people are in potential trouble.

Yes, as I understand it, that is the point.

garbon

#48
March 01, 2012, 02:11:04 PM
Quote from: PJL on March 01, 2012, 02:02:22 PM
Mind you most people on a normal wage who'd answer the questions on the first article would be classified as high beta. So basically they're saying most people are in potential trouble.

Yeah, didn't seem particularly useful as you were only low beta if you were negative about your life.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

garbon

#49
March 01, 2012, 02:12:10 PM
Quote from: crazy canuck on March 01, 2012, 02:09:52 PM
Quote from: PJL on March 01, 2012, 02:02:22 PM
Mind you most people on a normal wage who'd answer the questions on the first article would be classified as high beta. So basically they're saying most people are in potential trouble.

Yes, as I understand it, that is the point.

But that hardly says much.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

crazy canuck

#50
March 01, 2012, 02:20:03 PM
Quote from: garbon on March 01, 2012, 02:12:10 PM
Quote from: crazy canuck on March 01, 2012, 02:09:52 PM
Quote from: PJL on March 01, 2012, 02:02:22 PM
Mind you most people on a normal wage who'd answer the questions on the first article would be classified as high beta. So basically they're saying most people are in potential trouble.

Yes, as I understand it, that is the point.

But that hardly says much.

Agreed.

MadImmortalMan

#51
March 01, 2012, 03:03:17 PM
Quote
Andrew Schiff...director of marketing for broker-dealer Euro Pacific Capital Inc.


Peter Schiff's brother, I assume?
"Stability is destabilizing." --Hyman Minsky

"Complacency can be a self-denying prophecy."
"We have nothing to fear but lack of fear itself." --Larry Summers

grumbler

#52
March 01, 2012, 03:25:12 PM
Quote from: Valmy on March 01, 2012, 10:12:22 AM
New York is pretty screwed up like that.  One of my good friends works for their city government and he pays a ridiculous amount of rent to share a Brooklyn brownstone with like four other professionals.  I fully understand making 350K a year will get you exactly jack and shit in that city.
Yep.  It is pretty much the same in all big, popular cities.  You pay the price, or you commute forever.
The future is all around us, waiting, in moments of transition, to be born in moments of revelation. No one knows the shape of that future or where it will take us. We know only that it is always born in pain.   -G'Kar

Bayraktar!

garbon

#53
March 01, 2012, 03:28:38 PM
Quote from: grumbler on March 01, 2012, 03:25:12 PM
Quote from: Valmy on March 01, 2012, 10:12:22 AM
New York is pretty screwed up like that.  One of my good friends works for their city government and he pays a ridiculous amount of rent to share a Brooklyn brownstone with like four other professionals.  I fully understand making 350K a year will get you exactly jack and shit in that city.
Yep.  It is pretty much the same in all big, popular cities.  You pay the price, or you commute forever.

Yes though New York is particularly egregious on that front at least when I compare the same bit with SF.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

Capetan Mihali

#54
March 02, 2012, 12:37:18 PM
Boston is no damn deal either.   <_<
"The internet's completely over. [...] The internet's like MTV. At one time MTV was hip and suddenly it became outdated. Anyway, all these computers and digital gadgets are no good. They just fill your head with numbers and that can't be good for you."
-- Prince, 2010. (R.I.P.)

Richard Hakluyt

#55
March 02, 2012, 02:50:32 PM
In London there are two comfortable ways of living, poor and bohemian or rich and successful, being middling is no good at all. I wouldn't like to live there on a household income of "only" £100,000 or so, I think it would have to be £200,000 or so to even be tempting. That is no reason to feel much pity for the guys in the original post, but it is fair to acknowledge that their finances could easily be stretched pretty tight.

garbon

#56
March 02, 2012, 02:55:31 PM
Quote from: Capetan Mihali on March 02, 2012, 12:37:18 PM
Boston is no damn deal either.   <_<

Not in the same league. Looks infinitely more affordable compared to New York.
"I've never been quite sure what the point of a eunuch is, if truth be told. It seems to me they're only men with the useful bits cut off."
I drank because I wanted to drown my sorrows, but now the damned things have learned to swim.

Malthus

#57
March 02, 2012, 06:24:16 PM
Quote from: PJL on March 01, 2012, 02:02:22 PM
Quote from: Phillip V on March 01, 2012, 12:06:54 PM
Quote from: garbon on March 01, 2012, 12:00:25 PM
Quote from: Phillip V on March 01, 2012, 11:56:36 AM
Most high-earners save very little and live a highly-leveraged lifestyle (plenty of debt). Their net worth is usually smaller than we think and very susceptible to sudden life downturns.

Cite? After all, how is that different from most people?

Not that different at all. :)  Except the climb and fall are much steeper.

http://online.wsj.com/article/SB10001424052970204336104577096410776256928.html
http://www.amazon.com/Millionaire-Mind-Set-ebook/dp/B004EPYWM4/

Mind you most people on a normal wage who'd answer the questions on the first article would be classified as high beta. So basically they're saying most people are in potential trouble.

Well, most who are broadly speaking in the middle class. Anyone who is a home-owner in a big city is surely fucked if they are not wealthy - most of their net worth is sunk into one asset (their house) and they likely have a big mortgage on it to boot.
The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane—Marcus Aurelius

fhdz

#58
March 03, 2012, 11:48:51 AM
Everyone thinks his own burden heavy.
and the horse you rode in on
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