EOC-Wk 6 Greed is Good

EOC-wk 6 Greed is Good
Wall Street is just straight up insane. There’s just so much wrong doing, smuggling, and craziness going on there. Although there are a lot of pro’s and con’s about Wall Street and their compensation, bonuses and incentives, do we really believe it is worth it? Just like what the article says, “Wall Street bonuses are getting a bad rap, but they're an important and useful part of the financial services industry.
Taking them away could hamper the economic comeback.”
We begin to think about what good they are actually doing for our financial services industry, but a lot of the careers in Wall Street, are receiving rapidly high bonuses and compensations, but yet we see no change. I understand that the bonuses and incentives is important and necessary for that specific career, but does it needs to be well thought out through these economic crisis times. Another example in the article, that just makes me furiously angry, is when they had rushed to pay out $4billion in bonuses to the Bank of America employees. Is it really worth giving them that much? I feel it is really undeserved for them to be getting these bonuses.
Another outrage I have about Wall Street is that they take all this money to an advantage, which I believe to be very unprofessional and very disappointing to the public. Take John Thain as an example, by using a million dollars to redecorate his office?! I mean, is that really necessary! One way or another, it is going to leak out to the public eye, and people will fight. I just do not agree with the way things are being handled financially on Wall Street. It is very unfair, unprofessional and very disappointing. They need to rethink some things over and come up with a better system!