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Who cares if Wall Street 'talent' leave their jobs?

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Peacetrain Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 10:51 AM
Original message
Who cares if Wall Street 'talent' leave their jobs?

http://money.cnn.com/2009/10/23/news/newsmakers/fed.feinberg.fortune/index.htm

If lower pay lures some of Wall Street's finest away, so be it. It's not as if the best and brightest were doing a good job to begin with.


NEW YORK (Fortune) -- There's no need to fear a Wall Street brain drain -- despite the crackdown on pay by Washington.

On Thursday, White House pay czar Kenneth Feinberg outlined compensation restrictions at seven firms that got special bailouts, and the Federal Reserve proposed to review pay practices at 28 unnamed giant banks.

Critics warn that reining in pay makes it hard to keep talented employees. Hemmed in, institutions like AIG (AIG, Fortune 500),Bank of America (BAC, Fortune 500) and Citigroup (C, Fortune 500) could lose their best people.

Who says no one is listening ;)

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=8712834&mesg_id=8712834
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kestrel91316 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 10:53 AM
Response to Original message
1. The princes and princesses will have to go find REAL jobs.
Like, maybe, Head Burger Flipper at McDonald's Store #3876.
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GentryDixon Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 11:37 AM
Response to Reply #1
7. But, but, that's my job!
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no_hypocrisy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 10:53 AM
Response to Original message
2. My guess would be the corps are worried about their less-than-loyal employees
will take back-up disks of their clientele with them to their next position.
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napi21 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 10:57 AM
Response to Original message
3. If they're so damn great, why did we get into this mess to
begin with? Sorry folks, but I'm not seeing the results of talent here!
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lunatica Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 10:59 AM
Response to Reply #3
4. It's like putting convicted child abusing parents in charge of child welfare
Or the rapists in charge of women's health
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sharp_stick Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 11:06 AM
Response to Original message
5. I've been wondering the same thing
this whole "We need to pay for the best talent" spiel is nothing more than a self-fulfilling prophecy to keep the assholes in the C-suites rich as hell. One company pays a million bucks for someone and company 2 comes in with "well we have to pay more to keep the best people". A few years go by and these dirtbags are making 50 - 60 million a year plus bonuses.
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Hutzpa Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 11:19 AM
Response to Original message
6. Aren't these the same talent that got us into
this mess? My hope is the administration would not fall into this
BS from wall street and their paid shills.
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mitchum Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 12:11 PM
Response to Original message
8. I encourage them to leave the planet
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TwilightGardener Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 12:16 PM
Response to Original message
9. I love this hyping of the "brain drain" threat--as America yawns, shrugs
and hopes they all go to hell. It must kill them that the peasants couldn't give a shit.
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johnaries Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 12:17 PM
Response to Original message
10. Psssst! Wall Street - John Galt ain't real! nt
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benld74 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 12:35 PM
Response to Original message
11. What happened with starting new businesses? ITs what us small breed is expected to do
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sentelle Donating Member (659 posts) Send PM | Profile | Ignore Mon Oct-26-09 02:11 PM
Response to Original message
12. The only problem
is that they will go somewhere else.
And those places they go will pull the same thing that the banking industry did. and so the axis of evil turns.
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iceman66 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 02:41 PM
Response to Original message
13. I wish more of them would,
maybe then they can find a way to actually contribute something useful to society.
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SemiCharmedQuark Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 02:43 PM
Response to Original message
14. After their highly covered antics, I think most people don't give a shit of the talent goes and
jumps in a lake.

Maybe when times were good and the economy was booming (like in the 90s) people would be afraid. But not now.
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HughMoran Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 04:16 PM
Response to Original message
15. Agreed. Some should be put to death for what they did to this country anyway
If their punishment is simply having to get another job, I have zero sympathy.
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jgraz Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Oct-26-09 04:22 PM
Response to Original message
16. If there is "talent" on Wall Street...
It's the ability to shed basic human morality in favor of pure, unadulterated greed.

(Yes, I'm speaking from experience)
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