Not Enough Bullets: Can’t Live on $150 to $180,000 Edition

It appears that for investment banking types an outrageous salary is not enough.

They also need bonuses. Bonuses whether their company makes money or not. Whether their company is on the bederal dole or not.

It's because....It's because....I don't know why, but the rules don't apply to them.

BTW, the last paragraph of the story is the killer:

“Without a doubt, $18 billion is a lot of money, but it’s a drop in the bucket on Wall Street,” said Gustavo Dolfino, president of the WhiteRock Group, a headhunter for the banks. “These bonuses are down, and the salaries are not enough for these people. They can’t live on $150 to $180,000, so they haven’t saved any money. They put it on credit lines and at bonus time, they thought they’d pay it off.

Median family income is $49K/year, and they cannot live on three times that.

Andred Lahde got it right when he called them, "The low hanging fruit, i.e. idiots whose parents paid for prep school, Yale, and then the Harvard MBA, was there for the taking. These people who were (often) truly not worthy of the education they received (or supposedly received) rose to the top of companies such as AIG, Bear Stearns and Lehman Brothers and all levels of our government."