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The Rage of the Privileged Class


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Education and hard work takes you pretty far, but at the level of CEO on tarp money we're talking borderline-ethical risk-taking with all the downside absorbed by the taxpayer.

 

B, Except the targets cited in the article are much MUCH broader than just the CEO-level people. The bashing/punishing policies are targeting a huge cross section of honest hardworking folks.

Sure, but we're just mocking the top 1%.

 

The top of the top 1% whining about being somewhere in the middle of the top 1%.

 

I have a friend like this. No, he's not in finance. He made his money the honest way in the entertainment biz. He lost quite a bit of his savings and investments during the economic downturn. He's still in the top 1% though. He tells me life is "sooo hard in Los Angeles, sooo expensive, barely getting by". This year he has to work a whopping 4 months!!!

 

I just nod and smile. :huh:

 

Even a bottom tier NBA or baseball player will make more in a bad year than most CEOs will make in a good year. Any above-the line actor will make more money than all but a handful of people at AIG or Goldman make.

 

Adam Sandler made $30mn last year, much more than just about every CEO made in cash and option grants, and Sandler's just in the middle of the pack.

adam sandler probably never trashed the retirement dreams of millions or stole their ability to pay for healthcare. i'm just saying

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Just an open question to the Admins: Does the "no-political-discussion rule" apply to the politics of Ressentiment?

 

This thread is really mild.

 

There's much more angry stuff posted here about Restaurant Girl, food bloggers, defining Indian cuisines, Shake Shack, bad celebrity plastic surgery, panty hose, canned beans, etc..

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Even a bottom tier NBA or baseball player will make more in a bad year than most CEOs will make in a good year.

 

not true. most bottom tier nba players don't have annual contracts. for those who do, the minimum salary for a rookie is less than $500,000 a year. you have to be a 6 year vet for a minimum salary that approaches a million. and most bottom tier nba players have far less job security and future prospects than your average employed mba, leave alone a c.e.o. in the nbdl (the nba's developmental league) players average less than $30,000 a year.

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Just an open question to the Admins: Does the "no-political-discussion rule" apply to the politics of Ressentiment?

 

This thread is really mild.

 

There's much more angry stuff posted here about Restaurant Girl, food bloggers, defining Indian cuisines, Shake Shack, bad celebrity plastic surgery, panty hose, canned beans, etc..

 

 

apart from a slight typo, that's a fairly accurate statement. however, the guidelines are not about mildness of conversations but about politics/religion. however, as no one has reported this thread the current admins have not discussed it.

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Even a bottom tier NBA or baseball player will make more in a bad year than most CEOs will make in a good year. Any above-the line actor will make more money than all but a handful of people at AIG or Goldman make.

 

Adam Sandler made $30mn last year, much more than just about every CEO made in cash and option grants, and Sandler's just in the middle of the pack.

I think you mean an above the title actor. There ain't many of those. Most actors have other jobs, struggling just to pay their SAG dues.

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Even a bottom tier NBA or baseball player will make more in a bad year than most CEOs will make in a good year.

 

not true. most bottom tier nba players don't have annual contracts. for those who do, the minimum salary for a rookie is less than $500,000 a year. you have to be a 6 year vet for a minimum salary that approaches a million. and most bottom tier nba players have far less job security and future prospects than your average employed mba, leave alone a c.e.o. in the nbdl (the nba's developmental league) players average less than $30,000 a year.

 

Stop introducing FACTS into this discussion.

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Even a bottom tier NBA or baseball player will make more in a bad year than most CEOs will make in a good year.

 

not true. most bottom tier nba players don't have annual contracts. for those who do, the minimum salary for a rookie is less than $500,000 a year. you have to be a 6 year vet for a minimum salary that approaches a million. and most bottom tier nba players have far less job security and future prospects than your average employed mba, leave alone a c.e.o. in the nbdl (the nba's developmental league) players average less than $30,000 a year.

 

Not to mention that, in so far as I know anyway, the taxpayers are not subsidizing the NBA. Except voluntarily, of course, through ticket sales.

 

Nobody asked me if I'm going to like having my taxes raised to give those jerks multi-million dollar payoffs.

 

Not to mention that if I choose to pay to watch an NBA star, I'll at least enjoy it.

 

 

 

 

 

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tax-payers do often subsidize nba team owners (through the building of arenas etc.) who make far more money than the players they employ.

 

Well, for some reason that doesn't piss me off as much as these bailouts, with the executives shamelessly pocketing all that dough after running their companies into the ground.

 

 

 

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Even a bottom tier NBA or baseball player will make more in a bad year than most CEOs will make in a good year. Any above-the line actor will make more money than all but a handful of people at AIG or Goldman make.

 

Adam Sandler made $30mn last year, much more than just about every CEO made in cash and option grants, and Sandler's just in the middle of the pack.

I think you mean an above the title actor. There ain't many of those. Most actors have other jobs, struggling just to pay their SAG dues.

 

You're right. That's why I distinguished the actors as above the line / title. Just like most of the people getting laid off at AIG, Lehman, Bear, etc are average schlubs doing their jobs. Not just CEOs, big time traders, etc.

 

The average pay at some investment firms was huge, though. I wonder if the government will try to claw back some of the bonuses paid out on the basis of ficticious financial results? Mdoff wasn't the only person buying houses, cars, wineries, etc

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Even a bottom tier NBA or baseball player will make more in a bad year than most CEOs will make in a good year. Any above-the line actor will make more money than all but a handful of people at AIG or Goldman make.

 

Adam Sandler made $30mn last year, much more than just about every CEO made in cash and option grants, and Sandler's just in the middle of the pack.

I think you mean an above the title actor. There ain't many of those. Most actors have other jobs, struggling just to pay their SAG dues.

 

You're right. That's why I distinguished the actors as above the line / title. Just like most of the people getting laid off at AIG, Lehman, Bear, etc are average schlubs doing their jobs. Not just CEOs, big time traders, etc.

 

The average pay at some investment firms was huge, though. I wonder if the government will try to claw back some of the bonuses paid out on the basis of ficticious financial results? Mdoff wasn't the only person buying houses, cars, wineries, etc

Upper management always survives & rakes it in. The next layer down, generally folks who've been smart & industirous enough to have risen through the ranks, & usually older folks well into their careers, are the ones who get pared because of their "inflated" salaries. The average schlubs also survive & are saddled with twice as much work & abuse.

 

At least, that's been the recurrent pattern at my former employer, a big life/health insurance company. I can't generalize from that, though it wouldn't surprise me if they're fairly typical.

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Not to mention that, in so far as I know anyway, the taxpayers are not subsidizing the NBA. Except voluntarily, of course, through ticket sales.

 

Do taxpayers subsidize basketball stadiums the way they do baseball/football stadiums?

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