No one ever thought that companies such as bear stearn, merrill lynch, Lehmann brothers and possibly AIG would have to fold and come close to chapter 11 bankruptcy filing.
All of this after these wall street institutions have paid top dollar for talent from the top universities around the world from the likes of harvard, Yale , Wharton , MIT etc what happened to their geniuses?where are their brains which put together these highly leveraged structured products and complex derivative structures? I guess this time they did get f@$ked.
No more big pay checks. Low esops. Written off stock values and no golden parachutes.
The party is over for these ibanker wankers! Time to wake up snd realist that their greed got them in this time.