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The party is O V E R!! You can thank the NY Times. The article on 500K for IBankers has caused an uproar on some of the other blogs I read. What caused the biggest outrage...drivers and private school.
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I'm not sure what Obama has to do with this but when you actually look at what 500K is buying in NYC, it seems absolutely absurd that you can't cut out some expense and make it.
[ Reply | Options ]You're not sure what Obama has to do with it?? He's calling investment banks on the carpet. He's saying enough of using taxpayer bailout dollars to fund 18 billion in bonuses, office makeovers, etc.
[ Reply | Options ]No. They are limiting compensation for executives at companies that take TARP money. Investment bankers, traders, etc. are not executives, CEO's, CFO's, etc. are. It's not limited to investment banks - autos etc. and anyone that is going to receive upcoming assistance. Why don't people ever pay attention to the details?
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link to article : http://www.nytimes.com/2009/02/08/fashion/08halfmill.html?ref=fashion
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Here's another one, from a woman calling herself CityMom...seems like it's not hard to live well in NYC on 500K...http://examinedlives.typepad.com/examined_lives/2009/02/living-in-nyc-on-500000.html
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There's a bigger stink to come connecting corporate exp accts and credit cards for escort svcs.
[ Reply | Options ]I don't think people are relishing in anyone else's misery. I think we are all appalled that there is even any discussion on how $500,000 is not enough money to survive in NYC or anywhere else for that matter. There seems to be this whole group of people that are completely out of touch with the realities of the world and have locked themselves away in their very expensive ivory towers.
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