Time to Organize a Telethon for Overprivileged Youth

Seriously, the whining over the small bonuses that Wall Street bankers are getting this year is not, and should not be, viewed as a catastrophe.

In fact, in a just world, it should be seen as a good start:

Most Wall Street banks announced their fourth quarter profits beat industry expectations last week. But by the end of this week, bank sources and compensation experts told Reuters, most of their staff will be underwhelmed by their bonuses.

Many dealmakers, traders and even one big bank CEO are getting flat-to-down bonuses and total compensation for their performance in 2019 even though overall profits grew, the sources and experts said.

Morgan Stanley reduced incentive compensation for staff and cut Chief Executive Officer James Gorman's total compensation by 7% for last year compared to 2018, as the bank worked to reduce expenses, which climbed in the fourth quarter.

………

While some are disappointed by their bonuses, many admit they are still richly rewarded. Morgan Stanley’s CEO Gorman’s total pay for 2019 was $27 million, compared to $29 million in 2018.

Mt heart bleeds for the contemptible greed-head motherf%$#ers.