Bear Stearns Bankers Getting Paid To Literally Do Nothing

Don't feel too sorry for the soon-to-be-laid-off employees at Bear Stearns: Right now they're getting paid to do nothing. "I'd say 50 percent of my department comes in at some point on a given day, and the trading floor is empty," says one of the thousands of doomed employees who'll receive full pay until JPMorgan Chase takes over next month. The paychecks keep coming thanks to a convenient technicality: JPMorgan can't fire employees it doesn't yet employ. But it can notify them of the upcoming ax. "We're informing people every day," says JPMorgan spokesman Joe Evangelisti. Laid-off bankers will receive at least three weeks of severance for every year served, plus a bonus for sticking around till the sale closes.

Read the whole story here.

Comments

[loki]

And what high paid banker actually does anything , besides figure out how to increase his own bank account.

[pbfishtaco]

I see a potential job for our dear leader come January. His resume' is perfect for a window sitter. Repeat after me 'they're too big to fail', so George's future looks bright.

[Chavez08]

I'm tired of hearing the bitching! You people signed on gleefully to Reaganomics and chimed along with the millionaire media personalities in the 80s and 90s when they demonized the previous system and the labor and consumer protections that protected the entire working class from,.....THIS!

This is what you asked for. This is Neoliberalism/Reaganomics/"Neo-classical" Capitalism. Research these models, there is no cut for a "middle-class". You're either very wealthy or a slave, period.

Buyer Beware.

[loki]

* Standing Ovation* applause applause!! You summed that up very well..

This is our fault, we elected, and continue to elected the same aholes year after year. We can only blame ourselves. But that would be , UnAmerican now wouldnt it.
For DUH people, of DUH people. America.
We voted for these people, we must deserve it.

[WIpatriot]

And some people wonder where the "elite" attitude comes from.

[bola47]

they are being paid with our tax dollars that bushco used to bail them out. just fucking great!

[bobo209]

The stearn gang I am not surperized..such a deal my friendth..

[Mike169]

Sounds like that's why they were in that fix in the first place.

[anastasiabeaverhousen]

From their previous performance, I'd say doing nothing is an improvement. At least they're not losing money hand over fist, making foolish deals and otherwise squandering money.

[likeicare]

It's nice to see the taxpayer bailout money for these deadbeats went to a good cause.

It could have been used for roads and infrastructure, re-building crumbling schools, or to help treat our wounded soldiers returning from Iraq -- but it went to these poor stock brokers instead.

How nice.

[wolfgangmo]

Speaking as a Canadian I am pretty happy about the future of my country, but you guys need to get your priorities straight.

This is some seriously f#cked up shit.

Why are you bailing out the crooks? Shouldn't you be putting them in jail, or at least into community service for 8 or 10 years?

[WIpatriot]

The crooks are running the show, that's why.

[Chavez08]

"Bear Stearns Bankers Getting Paid To Literally Do Nothing" - It's the true nature of Capitalism.

As those with all the marbles like to say: "There will be winners, and there will be losers" Unfortunately, the ration is 1% - 99%,.....but everyone thinks *they* will be part of the 1%.

For us:
Massive unemployment
Massive homelessness
Saturated with Industrial-era produced cancer though no access to healthcare
Poisoned by Walmart, subsidized by the corporate owned U.S. govt.
Unaffordable education
Class slavery
Dissidents are tortured
Largest "Prison Industrial Complex" on the planet
No chance of retirement
Childrens futures are confined to endless military conflict.
Out of control Police State

But HEY! It's a good thing we're not "Socialists"!! Rah-rah Reagan!! I've got mine!!

[williamina]

Massive unemployment -I know, I know, everybody got $300,000 no money down home loans by working at McDs.

Massive homelessness - huh, not that liberal punching bag rearing its head again? Whos standard. In Venezuela a cardboard shack is a home, why not here in the USA?

Saturated with Industrial-era. - However life expectancy in this and all industrial countries is phenomenal. I know, I know some fat blubber you know doesn't have health care.

Poisoned by Walmart, - Ahh another moonbat punching bag. Actually the poison came from the socialist utopia China. Since you are a raging party insider could you place a call for us and tell them to knock it off?

Unaffordable education. - So your broke ass bitter moonbat self admits that you are dumb? If you couldn't afford education stop trying to pretend that you are educated.

Class slavery. - Yeah you got me here. But I do understand why stinky wool capped moonbat and straggly bearded she-moonbat hoards are not welcome at country clubs.

Dissidents are tortured. - Please name one?

Largest "Prison Industrial Complex" on the planet. - Ask Wright Rev, big whitey shot'em with their beam and turned them all into G's.

No chance of retirement. You have to work to retire. - But you retire everyday. Retire from puppet making to tuning in FSTV

Childrens futures are confined to endless military conflict. - Facts don't support your assertion. Just more moonbat hype.

Out of control Police State. - Awww poor little

[wolfgangmo]

Gosh,

Did you go to bible college to learn how to be such a vile and hateful person or did God just start talking to you one night and ask you to be such an asshat?

[WIpatriot]

Mommy, what's a moonbat??

[Jezdukowski]

Geez, you're a vile, bitter little troll, aren't ya? Whatsa matter - still angry because the party YOU helped put into power has screwed us ALL over (yourself included)?

[Chavez08]

How much does Hannity pay trollers for throwing out that kind of propaganda anyway?

I'm really fond of you Murdoch Communist sympathizers but, to make a quick buck, maybe I can sell out like you did? Is Limbaugh going to let you live in his pool house if you wash his cars and hide him from DR investigators?

Your Reaganite Communist arguments were effective before the entire country was ready for change but it appears you Bush regime-cheerleaders are running out of trash to peddle and Haliburton and the United Arab Emirates are not going to subsidize Limbaugh forever.

Why dont' you come back from Communism, become American?