Thread regarding Bank of America layoffs

Lay-off More Trading MDs

If they don’t make money, why they get paid so much?

by
| 1268 views | |
Post ID: @YwUKzcw

7 replies (most recent on top)

@7dsu , exactly. They need to keep deflecting issues, that is their primary role, period. Find those responsible or at least those they can implicate somehow and make them pay! Everyone is happy higher up and they keep their jobs; kind of like the loser opposition in government - produce and contribute nothing but have lots to say and criticize.

by
|
Post ID: @YwUKzcw-8wwa

@7pxe MDs are not being blamed now. They always find scapegoats

by
|
Post ID: @YwUKzcw-7dsu

@7fmf, if you automate the MD's job then there is no one to blame when things don't go well or are not done according to the whims of someone higher up!

by
|
Post ID: @YwUKzcw-7pxe

@7dzm

Sounds like someone's job can be easily automated.

by
|
Post ID: @YwUKzcw-7fmf

Exactly! What @xbv, is trying to say is: Trading MD's don't make much money for the bank that's why they have to get paid so much. Traders at banks don't make money anyway. They're just hedging positions for their clients which is all they are supposed to do. The money is made on the fees they charge for the transactions, that's it - boring!

by
|
Post ID: @YwUKzcw-7dzm

The should listen to the $$$ The Boring way Series :)

by
|
Post ID: @YwUKzcw-imh

As was testified by the CEO's of major banks in congress yesterday, it's the risk managers that get all the say other than the CEO himself. So if the risk managers run the show there is likely very little risk being taken by anyone especially the trading MD's and so they are unlikey to make money, if at all, as they can't even take any type of managed risk! So the whole trading environment is one huge fiasco that just survives by making money on market making activities and brokerage fees. Trading MD's are really just around for show, anyway...

by
|
Post ID: @YwUKzcw-xbv

Post a reply

: