Bloomberg's Max Abelson takes us deep into the spectacle of members of Wall Street's 1% bemoaning their difficult straits as they struggle to make ends meet with their reduced bonuses. One doesn't know how he'll tell his children that they can't go to an exclusive private school anymore, another bemoans his mere 1200sqft New York apartment, and a third is gutted at the thought that he and his family no longer toss away the coupon circular that is left in their doorway -- now they glance at it!
“People who don’t have money don’t understand the stress,” said Alan Dlugash, a partner at accounting firm Marks Paneth & Shron LLP in New York who specializes in financial planning for the wealthy. “Could you imagine what it’s like to say I got three kids in private school, I have to think about pulling them out? How do you do that?”
...“They have a circular that they leave in front of the buildings in our neighborhood,” said Arbeeny, 49, who lives in nearby Cobble Hill, namesake for a line of pebbled-leather Kate Spade handbags. “We sit there, and I look through all of them to find out where it’s worth going.”
...The malaise is shared by Schiff, the New York-based marketing director for Euro Pacific Capital, where his brother is CEO. His family rents the lower duplex of a brownstone in Cobble Hill, where his two children share a room. His 10-year- old daughter is a student at $32,000-a-year Poly Prep Country Day School in Brooklyn. His son, 7, will apply in a few years.
“I can’t imagine what I’m going to do,” Schiff said. “I’m crammed into 1,200 square feet. I don’t have a dishwasher. We do all our dishes by hand.”
Wall Street Bonus Drop Means Trading Aspen for Discount Cereal
An editorial in The American Journal of Public Health, signed by 2,000 MDs, endorses Bernie Sanders’ “Medicare for All” single-payer healthcare system.
Rhode Island Governor Gina Raimondo — a former venture capitalist who invested state funds with hedge funds during her tenure as state treasurer — invited Goldman Sachs to set up a partnership with the Community College of Rhode Island, then kicked out the college’s daycare center to make room for Goldman staffers to work.
In 1996, New Jersey’s courts heard 500 debt-collection cases; in 2008, they heard 140,000 cases, almost all against black people, almost all of whom were not represented by lawyers. The cases were filed by vulture capitalists who bought the debt for pennies on the dollar and employed “attorneys” who filed up to 1,000 cases a […]
White hat hackers get paid to find holes in their own employers’ online systems, and plug those holes before they become serious security risks. It’s a job that pays handsomely…mostly because few job candidates, even experienced IT professionals, have the skills to scamper over firewalls and infiltrate the deepest recesses of a battle-tested network. But […]
Why buy one of those expensive and confusing universal remotes, clogged with enough buttons to launch a space shuttle, when you could accomplish the same electronic control right on your favorite mobile device? The Blumoo Universal Remote, now just $52.99 in the Boing Boing Store, harnesses the audio power of all your household equipment right […]
You may not love Microsoft Word, but you’ve definitely used it. Other than being one of the most ubiquitous programs on the planet, it’s been the go-to word processing system for more than a quarter-century because it’s as basic as it gets. But occasionally, you’ve got assignments that beg for a lot more options than simple […]