Bank management won't get bonuses, they'll get salary increases

[dreamblade]

http://correntewire.com/bank_america_use_bailout_money_increase_banksters_salaries_70

o, no, no, no, no, no, no. You're not getting it. Here's the "emerging public consensus": What we want is for banksters to be paid less money.
[...]
See, the object of the exercise should be to force bankster to find productive work -- say, as plumbers or electricians or chefs or taxi drivers -- instead of being paid absurd sums of money so that they can destroy people's 401(k)s and loot the economy.

Freakin plutocrats and their sense of entitlement! I cannot fathom the gall of these people.

 

[S.C. Joe]

Still is better than those muti-million bonuses...$150,000 to $250,000 is one heck of a raise but AIG was--make that IS--giving bonuses way higher than that.


Some states in the USA are now talking about having drug tests for people on welfare...if it happens these bankers on "welfare" with this bailout cash, should have to get right in line

But when is life ever fair too all?

 

[JKM]

problem is that most of the general public does not understand how wall street compensation works. Politicians are quick to get the public up in arms over something they don't understand.

The base salaries for these people is not what they work for. And please keep in mind it was a very small minority of those working in the financial sector that were responsible for what happened.

If any thing, what the U.S. goverment is trying to do to recoup those bonuses is only going to make those firms they bailed out weaker as their key people will walk out the door.

I would explain futher, but don't think this forum is the place to describe in detail

 

[Rockslinger]

If any thing, what the U.S. goverment is trying to do to recoup those bonuses is only going to make those firms they bailed out weaker as their key people will walk out the door.

Yes, it would be a good thing if some of these "key" people walk out the door. Where will they go? To Lehman Bros? When certain people leave our company we would all say: "Our gain, their loss."