Why I Love Wall Street

Looks like the negative sentiment, while still there, may abate a little. Seems that the new home builders survey is suggesting that they feel the housing market may have bottomed out. Was this the factor that caused the Dow to pair its losses? Perhaps the market is so earnings focused that they can push out any inflation fears? What is the real level of inflation anyway? I for one think the CPI is a terrible way to measure inflation. But until someone comes up with a better measure, I guess it’s all we got.

CNN Money had a great article today.

http://money.cnn.com/2006/10/17/news/newsmakers/bc.financial.wallstreet.pay.reut/index.htm?postversion=2006101715

Now if anyone can read this and tell me why these salaries are necessary or even justify them to me, I’d greatly appreciate it. If there is any group of people that are grossly over paid it would have to be these analysts, brokers, traders, investment bankers etc. I’ll throw real estate agents in with that group. Now probably 80% of those people are making under $75k, so imagine what the top tier people are making?

Someone post a comment and clue me in please…