More on those bonuses
- February
- 2
Over the weekend, I wrote about the $18 billion in bonuses doled out on Wall Street.
This despite the fact that the country’s largest banks have been bailed out by you and me and all of the other taxpayers.
One reader complained that Wall Street bonuses were in reality salaries. My feeling? If the company you work for is losing billions, you should expect a severe cut in your compensation whatever you call it.
On Friday, Sen. Claire McCaskill, a Democrat from Missouri, introduced legislation to cap compensation at companies that take the bailout money, CNN reported.
No one would be allowed to make more than the president of the United States or $400,000. That includes salaries, bonuses and stock options.
That’s one way to do it, though $400,000 is way too much for incompetence.
“We have a bunch of idiots on Wall Street that are kicking sand in the face of the American taxpayer,” she said on the floor of the Senate, according to CNN. “They don’t get it. These people are idiots. You can’t use taxpayer money to pay out $18 billion in bonuses.”
Posted by Noreen O'Donnell on Monday, February 2nd, 2009 at 6:14 pm | 
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