Yahoo isn't an instant news source and I heard this ruling over the news speakers here a while before it appeared online.
This is precisely what I mean about the disconnect between Main and Wall Streets. No matter how you cut up $5.8 billion, that is a lot of bonus. let's take a factory worker or anyone who actually makes something. He is lost in that math. What does he figure? A million workers getting $6,000 each year end? Well ML never had a million workers so the figure on average is north of that and this fact isn't lost on the workers making flanges. His company (the flange guy) is probably loosing money hand over fist. Then he reads that ML lost $28 Billion.
This is precisely what I mean about the disconnect between Main and Wall Streets. No matter how you cut up $5.8 billion, that is a lot of bonus. let's take a factory worker or anyone who actually makes something. He is lost in that math. What does he figure? A million workers getting $6,000 each year end? Well ML never had a million workers so the figure on average is north of that and this fact isn't lost on the workers making flanges. His company (the flange guy) is probably loosing money hand over fist. Then he reads that ML lost $28 Billion. It's not the idea of paying too much or a smidgen. It is the idea that someone can pay out a ton of money - a very princely sum - while the company is bleeding money out its eyes that rankles our flange maker. He really doesn't care if these ML guys work almost all on commission. You can hold that fact to light forever and he won't even blink.
Why do companies that are burning money...just burning it up...don't put a little aside and hire a good PR firm to have them explain to the real world that this is the cost of labor. ... not that anyone will stand around and listen.