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Morgan Stanley plans $3.9bn bonuses

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posted on Jul, 22 2009 @ 02:51 PM

Morgan Stanley is setting aside a huge sum to pay out bonuses despite posting its third consecutive quarterly loss and admitting it is disappointed with key departments.

The US bank's latest results show it is allocating $3.9bn (£2.36bn) for paying out to staff, 72% of its net revenues. That dwarfs the percentage of revenue set aside by arch rival Goldman Sachs, where workers are on track for large bonuses after record results last week.

Morgan Stanley extinguished the tentative flames of optimism among US banks today when it posted a loss of $159m for April to June and said it was not satisfied with its performance in fixed income trading and in asset management.

News of the bank's loss unsettled traders on Wall Street, whose view of the banking sector's prospects was brightened last week by Goldman's surge in profits and further upbeat news from JP Morgan, Citigroup and Bank of America.

Goldman said last week that it was dedicating 49% of its revenue to paying its staff, amounting to a compensation fund of $6.65bn.

Further reading of Morgan Stanley's results showed its compensation pot was not only much bigger as a percentage of net revenues of $5.4bn, but that it had jumped 26% from $3.1bn a year ago.

"It was a very good quarter to be a Morgan Stanley employee," said analyst Brad Hintz at Sanford C Bernstein & Co. "I'm not so sure it was so good to be a Morgan Stanley shareholder."

not only did they receive part of the bailout in 2009, they received part of a $5 billion dollar bailout in 2007 from CHINA.

and yet here they are giving $4 billion in bonuses

absolutely sickening

posted on Jul, 22 2009 @ 06:11 PM
Well, you know, they deserve it, don't they? Bonuses reward good employees and should reap rewards of good performance.

Oh! Sorry, they lost 159 mil. last quarter. I guess that doesn't work.

Seeing this news, especially the companies our Govt/ Fed bailed out with our money without our vote....

I am at the point where I don't even flinch nor do I get a blood pressure charge.

If you took a picture of me while I read this, It would be just like Jack N., after his lobe removal(in front) in One Flew Over the kooko Nest!

posted on Jul, 22 2009 @ 06:56 PM
All I can say is something my Grandmother said once, many,many years ago.

Jesus wept

posted on Jul, 23 2009 @ 01:07 PM
Just more proof that the country is run by bankers. These investment banks do nothing but cause trouble and should have been allowed to fail. Too big to fail, my butt. Too big to bail, i say.

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