‘Hard times, baby, hard times everywhere I go’

crybaby

“People who don’t have money don’t understand the stress. Could you imagine what it’s like to say I got three kids in private school, I have to think about pulling them out? How do you do that?”

– Accountant Alan Dlugash, a specialist in financial planning for the wealthy, explaining the heart-rending consequences of reduced bonuses on Wall Street, where bonuses fell to levels last seen in 2008. This year, the average bonus has collapsed by 14 percent, to $121,150.

(Fortunately, the figure doesn’t include stock options or other unrealized, deferred compensation.)

For more on this calamity and its consequences — canceled trips to Aspen, a four-month rental of a summer home reduced to one month, etc. — see this.

– Jay Bookman

337 comments Add your comment

Don't Tread

February 29th, 2012
7:04 pm

The pic is hilarious.

Matti

February 29th, 2012
7:05 pm

Jimminy H. Crickets!

TM

February 29th, 2012
7:11 pm

How many people are employed because:
This guy pays private tuition to sends his kids to private school?
Pays school taxes on value of his house?
Pays city taxes for police and fire fighters based upon his income?
Pays state and federal taxes based upon his income?
I expect he contributes more to our society than moss but go ahead and make fun of him and ignore what he contribute to the others.

Kamchak ~ Thug from the Steppes

February 29th, 2012
7:11 pm

Is it it wonder why I feel some connection to this sentiment?

http://tinyurl.com/4zsrpfj

Kamchak ~ Thug from the Steppes

February 29th, 2012
7:12 pm

Jay

The blog is stuck in the slanties.

TaxPayer

February 29th, 2012
7:12 pm

That kid looks kinda young to be an accountant.

Brosephus™ -

February 29th, 2012
7:13 pm

This is some huge a$$ed font!!!!!

Brosephus™ -

February 29th, 2012
7:15 pm

My only hope is the comment section here doesn’t mirror that of yahoo or the WaPo. The commenters on those posts are some cold hearted mofo’s…

But the comments will make you laugh.

Paul

February 29th, 2012
7:15 pm

I’d say Romney connects real well with the average guy compared with the empathy displayed by these…. dang, having trouble thinking of a word that will keep me out of moderation…..

Don't Tread

February 29th, 2012
7:16 pm

The blog is blown up…literally. Where’s that font tag when I need it?

Jm

February 29th, 2012
7:21 pm

Tons of good stuff on Bloomberg and jay pulls this?

:)

The wall st WATB need to suck it up.

Atlanta Mom

February 29th, 2012
7:22 pm

carlosgvv

February 29th, 2012
7:23 pm

These people think, for whatever the reason, they have what amounts to a God given right to wealth. No amount of reason or logic will change this belief. Because of this, they will lie, cheat and steal with no ethics or morals whatever because it’s their “right” to be wealthy. These are the Enron types and I don’t know how to get them out of Wall Street and politics. Unfortunately, Romney falls squarely into this category and he just might be our next President.

Atlanta Mom

February 29th, 2012
7:23 pm

Although, I’d be fussy if I had to live in 1200 sq ft with 3 children.

Kamchak ~ Thug from the Steppes

February 29th, 2012
7:23 pm

Oh, and — WEALTH ENVY!

Just thought I’d get that out of the way early.

Midori

February 29th, 2012
7:28 pm

so THAT’s what jm looks like!!!

ByteMe - Liberal Thug

February 29th, 2012
7:29 pm

“I have some friends who are NASCAR team owners”

– Mitt Romney

(that just cracks me up)

Recon 0311 2533

February 29th, 2012
7:32 pm

And Obama’s campaign coffers continue to overflow. Where’s the money coming from? Not from the poor people. Why aren’t they re-distributing their wealth. Too much left wing hypocrisy for one evening. Time for a late evening supper.

ByteMe - Liberal Thug

February 29th, 2012
7:32 pm

I have a niece and nephew who are both incredibly smart and going to the right schools…and what they want to do with their lives is work on Wall Street.

Where did we go wrong as a country when “financial engineering” got to be a better career than ACTUAL engineering?

JamVet - There are two types of Republicans, millionaires and suckers.

February 29th, 2012
7:32 pm

Republicans stand for raw, unbridled evil and greed and ignorance smothered in balloons and ribbons. ~Frank Zappa

Peadawg

February 29th, 2012
7:33 pm

Wow…$350,000/yr and still crying.

This guy deserves a good swift kick in the balls. Period.

Jm

February 29th, 2012
7:33 pm

Midori

Thanks. Charmingly handsome, lady magnet, and forever young.

:)

Biggie Smalls

February 29th, 2012
7:34 pm

Mo’ money, mo’ problems…

Peadawg

February 29th, 2012
7:34 pm

“I should tell my story,” Mr. Romney said. “I’m also unemployed.”

ByteMe – THIS is what cracks me up.

Kamchak ~ Thug from the Steppes

February 29th, 2012
7:35 pm

Where did we go wrong as a country when “financial engineering” got to be a better career than ACTUAL engineering?

I don’t know where, but I do know when.

http://prospect.org/article/industrial-policy-road-not-taken

TM

February 29th, 2012
7:35 pm

Of course if this guy has to cancelled the week in Aspen trip and the 4 month rental during the summer, Jay would be asking the Feds to extend unemployment compensation benefits for another 13 weeks to pay to the laid off workers who are out of work because this guy can’t his take his vacations..

Jm

February 29th, 2012
7:36 pm

Byteme

Financial engineering is intellectually fun and challenging. That said, more real engineers would be good to have.

The “face pay” is just too attractive. Most blow it all though unless they are sensible peeps.

Keep Up--Te gusta losing woofinpoofs?

February 29th, 2012
7:36 pm

Am…. don’t get me started on Zappa! :lol: I am sure many of his lyrics would offend sensitive ears here.

Brosephus….. did you ghost write this thread while Jay was out?

Thulsa Doom

February 29th, 2012
7:36 pm

TM, never get between a liberal and the raw meat he’s being fed.

Its a feeding frenzy folks. They ravenous today- eating this stuff up. They salivating.Aint too often they get the pure joy of watching the wealthy suffer. Aint nothin like seeing them rich folk get their comeuppance. Get some libs! Get some!

Mick

February 29th, 2012
7:36 pm

What can you say? Welcome to the club fellers…

Redneck Convert (R--and proud of it)

February 29th, 2012
7:37 pm

Well, it might be funny to some of you but I expect that guy that has to drive a Porsche to tool around town ain’t laughing. Or the guy that had to cancel a trip to New Orleans to see a wet t-shirt contest with his friend. Or the guy that had to give up one of his vacation trips.

This is tragic and what happens with a librul Democrat in the White House. We got to get a godly Republican in there so there will be something for these big shots to trickle down to the rest of us.

Why it says right there the average bonus has fell to—let me re-read this again—$121,000!

On second though, F___ these people and the horse they rode in on! Heck, I need to work 5 yrs. to make that much money.

Jay

February 29th, 2012
7:37 pm

Yes, TM. Let’s equate a guy who doesn’t have a job and is worried about losing his house with someone with a $350,000 salary and $120,000 bonus who has to cancel his Aspen vacation.

You go right ahead and do that.

Mick

February 29th, 2012
7:38 pm

doom

Don’t you know that misery loves company? Go baby go…

JamVet - There are two types of Republicans, millionaires and suckers.

February 29th, 2012
7:38 pm

They BOTH suck

February 29th, 2012
7:39 pm

TD

You must admit………. reading the comments makes you realize that some of those people are out of touch………..

Not knocking the money they make or the brain power it takes to make it, but some of those comments are nothing less than cry babies on display

Jm

February 29th, 2012
7:40 pm

People get paid $300k and think they make enough to do anything, but they don’t.

They have to pay giant taxes, have a very high cost of living. If they don’t go blow the rest they can save. The peer pressure to blow the dough is high though.

TM

February 29th, 2012
7:41 pm

It just amazes me that these folks think that those with money keep it all in a basement and don’t see what goods, services and taxes they pay and without that REAL stimulus our economy would tank.

Jm

February 29th, 2012
7:42 pm

Redneck convert u make $24k per year? Did you finish high school? What do you do?

ByteMe - Liberal Thug

February 29th, 2012
7:42 pm

Financial engineering is intellectually fun and challenging. That said, more real engineers would be good to have.

Yes, to both sentiments. I think both could create something more brilliant than the next market model that eventually fails. But they want the excitement of living in the big city and having to spend stupid amounts of money on clothes and food and housing.

saywhat?

February 29th, 2012
7:43 pm

I feel so bad for the rich. Haven’t they suffered enough?

saywhat?

February 29th, 2012
7:43 pm

I feel so bad for the rich. Haven’t they suffered enough?

Orange12

February 29th, 2012
7:43 pm

Kind of looks like me on the last blog.

saywhat?

February 29th, 2012
7:43 pm

I feel so bad I had to say it twice.

Kamchak ~ Thug from the Steppes

February 29th, 2012
7:44 pm

Let’s equate a guy who doesn’t have a job and is worried about losing his house with someone with a $350,000 salary and $120,000 bonus who has to cancel his Aspen vacation.

But…but…but…the poor guy spent years at his second or even third choice Aspen rental just to get in line for that special place. Now, after all that waiting he’s finally there only to have to cancel and get back at the end of the line.

OH, THE HORRORS!

They BOTH suck

February 29th, 2012
7:44 pm

Let’s all join TM in a moment of silence and maybe even shed a tear for those mentioned in the article

Fred ™

February 29th, 2012
7:44 pm

Jesus Jay, you STRAIGHT ripped this from Brocephus. Did you give him any credit?

Redneck Convert (R--and proud of it)

February 29th, 2012
7:45 pm

Redneck convert u make $24k per year? Did you finish high school? What do you do?

Well, what a stupid question! Anybody that’s been on this blog anytime at all knows my senior year was the 5th grade and I drive a beer truck. It don’t pay much but there’s lots of breaks and plenty of time to blog.

Jm

February 29th, 2012
7:45 pm

Byteme 7:43 agreed

Btw, all models fail eventually. That is an inherent quality of finance. The business cycle, economic collapses, cannot be averted no matter how badly democrats may want to outlaw recessions.

TM

February 29th, 2012
7:45 pm

“Yes, TM. Let’s equate a guy who doesn’t have a job and is worried about losing his house with someone with a $350,000 salary and $120,000 bonus who has to cancel his Aspen vacation.

You go right ahead and do that.”

Jay I not equating anything that’s your slant. You just ignore what the guy with a 350zk salary and 120K bonus contributes to society. I guess you think that everyone should make 50K and shut up. Can you say Lenin?

They BOTH suck

February 29th, 2012
7:46 pm

Good bye Aspen ………… Hello Sugar Mountain

Good bye Hawaii ……………. Hello White Water

Fred ™

February 29th, 2012
7:48 pm

They BOTH suck

February 29th, 2012
7:50 pm

TM

“I guess you think that everyone should make 50K and shut up. Can you say Lenin?”

Everyone understands the tax bracket they are in and that what he purchases goes into the overall economy. Unless those babies had a contract that was nullified, than they can adjust just like millions have had to adjust across this country…

I didn’t loose sleep when he made a million or whatever and I wont lose any when he makes 350k

Outside of that…….. let them cry

Jm

February 29th, 2012
7:51 pm

stands for decibels

February 29th, 2012
7:52 pm

For more on this calamity and its consequences — canceled trips to Aspen, a four-month rental of a summer home reduced to one month, etc. — see this.

wotta Schiffhead.

saywhat?

February 29th, 2012
7:52 pm

TM- “I guess you think that everyone should make 50K and shut up. Can you say Lenin?”
____________________________________________

I guess YOU think a few people should make millions, and everybody else should make 20K or less and shut up. Can you say Romney?

stands for decibels

February 29th, 2012
7:54 pm

dang, having trouble thinking of a word that will keep me out of moderation….

and again I say: Schiffheads.

Fred ™

February 29th, 2012
7:54 pm

Recon 0311 2533

February 29th, 2012
7:32 pm

And Obama’s campaign coffers continue to overflow. Where’s the money coming from? Not from the poor people.
++++++++++++++++++++++++++++++++++++++++

Really? You sure about that?

“Sitting down for a meal with the President of the United States is just not a chance many people — including me — will ever get.

That’s why you’d be crazy not to at least give this a shot.

We’re drawing the first winner tonight at midnight.

Pitch in $2 or whatever you can to be automatically entered to sit down for a meal with the President.

Consider this: A couple months ago, Scott, a firefighter and dad from Georgia, opened an email about having dinner with the President. He pitched in a few dollars to support the campaign, figuring “Why not?”

Weeks later, the President was offering him a french fry from across the table.

So if you think that could never be you, remember that Scott thought that, too.

Chip in $2 or more to be automatically entered now:”

i get crap like this all the time. 300 million people at 2 bucks a time can make up a lot of money. Yeah, I know it’s not 300 million, but how many DO send 2 or 3 bucks? Quite a damn bunch………….

saywhat?

February 29th, 2012
7:54 pm

Jay, are you trying to apppeal to older readers with the large font? Inquiring minds want to know.

jack bull

February 29th, 2012
7:54 pm

it’s all relevant.

They BOTH suck

February 29th, 2012
7:55 pm

TM

If times get to tough for these guys; there is always Coney Island and the Statue if Liberty……….. Heck it wont even cost them anything to walk through Central Park

You know they can stimulate the local economy and it can trickle down right there in the NYC where they work and live

stands for decibels

February 29th, 2012
7:56 pm

This guy deserves a good swift kick in the balls. Period.

Dang, PD, that’s twice in one day I’m making the “I’m not worthy” gesture in your direction. Keep up the good work, mon ami.

saywhat?

February 29th, 2012
7:56 pm

Apparently conservatives think only poor and middle class people are to be held responsible for the choices they make. Imagine my shock.

Redneck Convert (R--and proud of it)

February 29th, 2012
7:57 pm

Jay, are you trying to apppeal to older readers with the large font?

Well, I don’t know about you but this is the first time I’ve been able to read this blog real clear in years.

TM

February 29th, 2012
7:57 pm

“I guess YOU think a few people should make millions, and everybody else should make 20K or less and shut up. Can you say Romney?”

I say those who have studied and work hard so they do not make 20K or less and rely upon government subsidies, should be held out as examples to strive for.

Peadawg

February 29th, 2012
7:59 pm

JamVet – THIS is trickle down

http://www.youtube.com/watch?v=TTpKOFte6JE

“American Pie Stiffler Getting Pissed On”

stands for decibels

February 29th, 2012
7:59 pm

I challenge everyone to 1) go to Jay’s linked story, 2) click on an enlargement of that pic of Andrew Schiff, and 3) NOT want to petition Obama to order a drone strike on the guy.

It can’t be done.

Peadawg

February 29th, 2012
8:00 pm

“Dang, PD, that’s twice in one day I’m making the “I’m not worthy” gesture in your direction. Keep up the good work, mon ami.”

Gracias!!!! See, I’m on y’alls side on a lot of things.

Kamchak ~ Thug from the Steppes

February 29th, 2012
8:00 pm

Jay, are you trying to apppeal to older readers with the large font?

I kept reading this and couldn’t figure out what the hell y’all were on about. When I first saw this thread, it was in italics, but now it’s fixed. of course I’m using firefox.

I opened this up in IE and now I understand.

Atlanta Mom

February 29th, 2012
8:00 pm

“The peer pressure to blow the dough is high though.”
Gee, I talked to my children about peer pressure all the time when they were young. Not a problem now.

Fred ™

February 29th, 2012
8:00 pm

stands for decibels

February 29th, 2012
7:56 pm

This guy deserves a good swift kick in the balls. Period.

Dang, PD, that’s twice in one day I’m making the “I’m not worthy” gesture in your direction. Keep up the good work, mon ami.
++++++++++++++++++++++++++++++++

db, Peadawg isn’t a damn liberal democrat, but he’s not a completely brainwashed republican either. LOL He’s a hard headed asshat that you ain’t gonna change the mind of, but all in all I think he’s pretty square. Agree with him or not he’ll ALWAYS tell you where he’s coming from and why. he has reasons whether you (or I) agree with them or not. I can respect that.

I DO respect that. (Still think he’s an asshat though :lol: j/k peadawg)

Fred ™

February 29th, 2012
8:01 pm

saywhat?

February 29th, 2012
7:54 pm

Jay, are you trying to apppeal to older readers with the large font? Inquiring minds want to know.
+++++++++++++++++++++++++++++++++++++

Turn away from the Dark Side. Try firefox. No font problem here…….

Mick

February 29th, 2012
8:02 pm

It’s all relative, just like water seeks its own level, so does wealth. These guys are pikers compared to the big boys…

TM

February 29th, 2012
8:03 pm

Time for me to adjust the antenna on my trailer, and watch my favorite show and hope the tornadoes don’t hit the park tonight. Bye

Aquagirl

February 29th, 2012
8:03 pm

You just ignore what the guy with a 350zk salary and 120K bonus contributes to society.

Making rich people richer by playing the financial system is not a contribution. That’s the problem with our economy, people who care for your children or put out fires are worth far less than the people who wrecked the hell out of our economy.

Peadawg

February 29th, 2012
8:04 pm

” (Still think he’s an asshat though j/k peadawg)”

Dude, absolutely no problem. I know I’m an asshat sometimes. I wear the non-pc, very blunt, non-sugarcoating personality WITH PRIDE.

BTW…I’m not completely hardheaded. I’ve changed a lot in the past 4 years or so on Jay’s blog. Abortion is just one of those things that I’ll probably never change my mind on.

I want to be a liberal tard

February 29th, 2012
8:04 pm

Hey Obama.. I mean Jay.. my bad.. well.. not really.. you two are connected at the brain..

Its all about the wealth envy.. Let’s spread the wealth around.. Have one rule though.. if you have ever purchased a lottery ticket you’re disqualified as you just proven yourself to stupid to manage your own money…

stands for decibels

February 29th, 2012
8:06 pm

Fred, p’diddy & I go back a ways. He’s a decent bloke a lot of the time.

and besides… let’s just say to be young and I believed 95% of the crap I read in Forbes, once upon a time. people can change.

I want to be a liberal tard

February 29th, 2012
8:06 pm

Aquagirl
February 29th, 2012
8:03 pm

Making rich people richer by playing the financial system is not a contribution. That’s the problem with our economy, people who care for your children or put out fires are worth far less than the people who wrecked the hell out of our economy.

Its that simple? learn that in school did you?

stands for decibels

February 29th, 2012
8:06 pm

or, let’s just say I was once young and I believed 95% of the crap I read in Forbes…

Jm

February 29th, 2012
8:07 pm

Mick 8:02 bingo

Atlanta Mom

February 29th, 2012
8:09 pm

I figured this out. This is a Feb 29 hoax.

Jack

February 29th, 2012
8:10 pm

Always hitting on the successful folks. I guess you gotta be on food stamps to be on Bookman’s good side.

stands for decibels

February 29th, 2012
8:11 pm

Anyway, this libertine DFH leech has to go read to his kid. Back later, maybe, otherwise pleasant evening, all.

Fred ™

February 29th, 2012
8:11 pm

Peadawg: Have I argued with you about the A-word thing? Nope, I didn’t think so ;)

Kamchak ~ Thug from the Steppes

February 29th, 2012
8:12 pm

or, let’s just say I was once young and I believed 95% of the crap I read in Forbes…

Back in the late 70s and into the 80s, I had a subscription to the WSJ. Back then they actually did journalism and it wasn’t just a PR firm executing branding strategies for corporate America.

josef

February 29th, 2012
8:13 pm

JAY
This could’ve been a lot more fun and a lot more original that that repeat performance downstairs…I had to go over to Kyle’s for a visit to get away from that bloody nyanh-nyanh…

ANYWAY
Glad to know rest of y’all are having the big font fun…my French student was here putting a project on the computer and things kept going kerflewy, though this might be more of the same…

AND the much welcomed new thread…some folks are just plumb out of touch with reality….

Keep Up--Te gusta losing woofinpoofs?

February 29th, 2012
8:13 pm

Let me just note for the record that apparently some of you pipsqueaks do NOT comprehend the seriousness of not having Grey Poupon for your sandwich…… my god, what kind of people do you think we are….. Irish?

[Disclaimer: Statements may not necessarily reflect actual viewpoints about the Irish. Indeed many of them have tried to find Grey Poupon in their local spam shoppes. ]

I want to be a liberal tard

February 29th, 2012
8:13 pm

someone has to make the money to pay the taxes for the unions to provide free plastic surgery.. Meanwhile.. Obama is sticking it to the veterans by upping their healthcare costs.. maybe they should join a union?

Redneck Convert (R--and proud of it)

February 29th, 2012
8:17 pm

Well, I wonder what it would be like to make 350K a year. Let’s see now, 350K divided by 24—and carry the 1—that would be around 15K a payday. After getting a pay stub like that, first thing I would do is clean myself up, for sure as the sun comes up tomorrow I’d mess my pants. Then I’d head straight to a dealer to buy a new doublewide and go home and tell the missus to get everything packed up. Maybe we could find some upscale trailer park to move to.

Only thing I can figure about why these people are broke is, they’re real stupid. Anybody that would pay $700 a month just to park a car has a elevator that don’t go all the way to the top.

JamVet - There are two types of Republicans, millionaires and suckers.

February 29th, 2012
8:18 pm

Obama is sticking it to the veterans by upping their healthcare costs.

Liar.

As if some chickenhawk like you gives a ____ about veterans.

Hysterical…

saywhat?

February 29th, 2012
8:18 pm

All that money I have keeps clogging toilets at my house, and I may have to start using actual toilet paper again (or at least switch to fivers or singles). The money gets into the food too. You just haven’t suffered until you have trouble cutting through an 18 oz prime NY strip because wads of $100 bills get caught in the knife. If Mother Teresa had witnessed suffering like mine and Mr Shiff’s she wouldn’t have wasted all those years in Calcutta.

Kamchak ~ Thug from the Steppes

February 29th, 2012
8:19 pm

[Disclaimer: Statements may not necessarily reflect actual viewpoints about the Irish. Indeed many of them have tried to find Grey Poupon in their local spam shoppes. ]

Chef Rachel Allen cooks with Grey Poupon frequently.

She’s also very easy on the eyes.

Jm

February 29th, 2012
8:19 pm

Speaking of food

I’m cooking up some salmon for dinner

Publix brand, but wild! :)

I want to be a liberal tard

February 29th, 2012
8:22 pm

JamVet…

read and learn…

http://www.sunshinestatenews.com/story/barack-obama-health-care-hikes-hit-military-spare-unions-vets-vow-fight

and any time you want to compare notes on my service.. let me know..

wet wiccan

February 29th, 2012
8:22 pm

a sympathetic song for these poor souls…

http://www.youtube.com/watch?v=I3mtsBFe2Us

Fred ™

February 29th, 2012
8:23 pm

LOL I love it when a Republican gets his boxers in a bunch and puts my comments into mederation because they can’t handle the truth………

Jay

February 29th, 2012
8:24 pm

Fred, one more post that I have to pull and ….

Fred ™

February 29th, 2012
8:24 pm

Now I have two of them in moderation. I guess they don’t like being told they are piss boys. Truth hurts so badly………

Fred ™

February 29th, 2012
8:25 pm

Uh oh. sorry

Fred ™

February 29th, 2012
8:25 pm

Bye?

Come on Jay. Mel brooks? Classic……….