Caution
Don't follow this link if you want to control your blood pressure:
http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?em
Synopsis: Obama wants presidents of banks that have needed more money to only get a $500k/ year salary. This article shows that $500K is nowhere near enough for these presidents to continue to live their accustomed lifestyle. They need at least $2-3M to break even at the end of a year, which includes tutors and private school for two children, two $8k each vacations, limos and drivers, an apartment and vacation house in Southampton, etc, etc.
This article somehow implies that we should have pity on these poor men. These poor, poor men who drove our economy into the ground by allowing subprime mortgage after subprime mortgage. Causing thousands of people to lose their jobs, savings, homes. Leading to an unemployment rate of at least 7.6% - it'd be higher, but that figure doesn't include people who aren't considered to be actively looking for employment.
But these poor guys - they can't show their face around their "friends" and maintain their standard of living without at least $2-3M.
Makes me want to party like it's Paris in (17)'94.
http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?em
Synopsis: Obama wants presidents of banks that have needed more money to only get a $500k/ year salary. This article shows that $500K is nowhere near enough for these presidents to continue to live their accustomed lifestyle. They need at least $2-3M to break even at the end of a year, which includes tutors and private school for two children, two $8k each vacations, limos and drivers, an apartment and vacation house in Southampton, etc, etc.
This article somehow implies that we should have pity on these poor men. These poor, poor men who drove our economy into the ground by allowing subprime mortgage after subprime mortgage. Causing thousands of people to lose their jobs, savings, homes. Leading to an unemployment rate of at least 7.6% - it'd be higher, but that figure doesn't include people who aren't considered to be actively looking for employment.
But these poor guys - they can't show their face around their "friends" and maintain their standard of living without at least $2-3M.
Makes me want to party like it's Paris in (17)'94.
posted by Random Questioner at
7:33 PM
2 Comments:
Wait, people who have failed in business might have to tighten their belts? Unprecedented!
(The NYT had a similar article a little while ago about how being a millionaire doesn't get you that far in Silicon Valley. I don't know whose sympathy they think they're getting.)
By
smr, at 11:53 PM
But belt tightening might make them lesser men! Thus, we should feel sorry for them.
By
Random Questioner, at 11:41 PM
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