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Bailout Money Going to Wall Street Bonuses

You know the $125 billion that our leaders gave Wall Street to unfreeze credit markets?  $108 billion of that is being held for employee bonuses.  Really.  Now, not everyone on Wall Street caused the meltdown.  It was a few high-placed executives (people like our current Treasury Secretary).  Investment banks employee a lot of staff and other "non-Wall Street" types.  But those people, frankly, are lucky to still have jobs.  A bonus is just that - something extra that depends on the profitability of your employer.  When your employer is bailed out rather than allowed to go out of business, you shouldn't expect a bonus.  You should just be happy to have a job.Still, if bonuses were only going to people who just did their jobs rather than the actual captains of the Titanic, there'd be less cause for outrage...continue to full post

Full post as published by Crime & Federalism on October 30, 2008 (boomark / email).