"Everyone on Wall Street is fixated on The Number.
"The bank bonus season, that annual rite of big money and bigger egos, begins in earnest this week, and it looks as if it will be one of the largest and most controversial blowouts the industry has ever seen.
"Bank executives are grappling with a question that exasperates, even infuriates, many recession-weary Americans: Just how big should their paydays be? Despite calls for restraint from Washington and a chafed public, resurgent banks are preparing to pay out bonuses that rival those of the boom years. The haul, in cash and stock, will run into many billions of dollars.
"Industry executives acknowledge that the numbers being tossed around — six-, seven- and even eight-figure sums for some chief executives and top producers — will probably stun the many Americans still hurting from the financial collapse and ensuing Great Recession."
http://www.nytimes.com/2010/01/10/business/10pay.html?scp=2&sq=bonuses&st=cse
Oink, oink, oink. Snort, snort, snort, soueeeeeeeeeeeeeeeeeeeeeeeeeeeeee!
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infuriates...that's not even close to the words I can think of how ridiculous it really is.
Any dank who received bailout money; NONE of their executives should receive a bonus. They could not do their job right before why should they be reward now AFTER they received the EASY MONEY!
I've heard a great solution. Take your $$ out and put it in credit unions. Just to show them!!!
SER, these are banks that have repaid their TARP funds. The point being made, I believe, is that they wouldn't be profitable today (some might not even exist) if it wasn't for $700 billion in taxpayers' money last year. Some think it is unseemly to hand out huge bonuses from money made on taxpayers' funds and/or while much of the rest of the country continues to suffer.
And public wrath they will receive!
Orbs, I stand corrected. I did not know they paid back their TARP fund monies.
Still a hard pill to swallow!
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