Tuesday, September 11, 2012

Do Bankers Really Earn Too Much Money?

They may if they earn commissions and options of hundreds of millions a year. 

But who is to say what is too much? Some politician or bureaucrat with favors to hand out for votes?

Do baseball players also earn too much money? They certainly do, if they earn up to $30 million a year. And which many sandlot amateurs do for nothing, but just a little less efficiently. The real difference in their ball-hitting capability is not learned the hard way but in their luck in having eyes to see the ball.

Do gymnasts deserve more than they earn? They get practically no income despite all the incurred pain, and years of training and practice, and the need to overcome initial physical fear. Unless there's media hype in the Olympics.

From my personal experience with all three practices, it is difficult to see how bureaucrats and politicians in Washington are so ready to damn bankers for making “too much” money while other genuinely overpaid groups are left to make their fortunes politically undisturbed.

While ballplayers are indirectly being financed by bailout funds of their bosses’ subsidized ballparks. (See the Earl J. Weinreb NewsHole® comments.)

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