theobannion

The Commodity Rebate

I'm not sure "deserving" is the term I'd use. The following is a quote from a Phil Davis post (Tuesday, 2/17/09):

"The actual firms, the companies you buy stock in (and this is just GS, MS, MER, LEH and BSC), made $12Bn in profits in 2007 yet the people working there took over $100Bn in salaries and bonuses. What the hell kind of business model is that? We had to pay these guys $95Bn in ‘06 to earn $30Bn but last year, in 2008, these crooks took $60Bn in compensation for losing $7Bn (and that’s just what was booked)!?!"

For the entire post go to
philstockworld.com/200.../

I read you guys regularly. Great stuff!

Best,
SOB.