ctindale, page-14

Have to agree with you Buyandhold. Definitely.

Some of those bank nuts live in their own financial paper fantasy world where all you have to do is print unlimited amounts of money, lend it out and claim that is economic growth and prosperity.

Mind you ANZ and other Aussie banks have been very responsible compared to some of those bank nuts overseas.

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"New York Attorney General Andrew Cuomo’s report on the bonus structures of the banking industry is out and — oh my — it’s damning. The AG says that 3 banks, Goldman Sachs, Morgan Stanley, and JP. Morgan Chase, paid out bonuses that "were substantially greater than the banks’ net income."

The report says that combined, these three firms earned $9.6 billion, paid bonuses of nearly $18 billion, and received TARP taxpayer funds worth $45 billion. Why did this happen? Because, according to Cuomo, when times were good the bankers rewarded themselves based on performance. When the economy started to sour — they decoupled the bonus structure from reality and kept rewarding themselves."

At http://consumerist.com/5327382/ny-ag-banks-paid-bonuses-that-were-substantially-greater-than-the-banks-net-income