Capital Chronicle has the story. International Living magazine collected the numbers.
"According to our calculations, Paris-based traders of French banks, as well as those employed by the French subsidiaries of foreign banks, are set, this March, to enjoy bonus payouts of between €900m et €1bn. It is the equivalent of what 62,000 minimum-wage earners make in a year."
Using quant analysis, we see that it takes 12 bits of precision to define a banker salary and just one bit of precision to define a minimum wage. However, looking at the debt market, say the French yield curve, that market is likely not more accurate than a 7 bits.
This means that the economic production system has a very long chain of production simply devoted to bankers talking to each other. About 7 bits of precision to run finance, and an additional 5 bits of precision for bankers jacking off. Either bank executives are incredibly stupid, or something is keeping banks out of balance.
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