Tom Curtis to Michael Nehf and Board: What is your take?

From Tom Curtis, November 17, 2008
Subject: 111608 Bonuses paid on Wall Street

Mr. Nehf and Board,

Would you kindly read the following and respond to the blue paragraph?

Thank you,
Tom Curtis

There has never been a better moment to correct this deeply flawed system. For starters, where is it written in stone that bankers and traders have to be paid millions of dollars for their services? The gibberish about needing to pay that much just to keep superstars from fleeing to private-equity firms or hedge funds is just another Wall Street myth. The truth is most of them are lucky to have a job at all and they know it.

[Extracted from 11/16/08 post "The Bonuses paid on Wall Street....and some thought the bonuses paid on Broad Street was the only concern!?"]