Did you know part of that $700 billion bailout plan was for bonuses for these guys? I sure didn’t, and I have not seen it mentioned anywhere in our media, but the Guardian over in the UK seemed to notice:
US congressman Dennis Kucinich has called for an inquiry into remuneration proposals at Wall Street’s top banks, after a Guardian report revealed that six distressed institutions had drawn up pay plans, including substantial discretionary bonuses, worth more than $70bn for the first nine months of the year.
“When Congress placed restrictions on excessive executive pay, it had no intention of permitting business as usual with respect to bonus structures,” he said. “It would add insult to injury to ask taxpayers not only to bail out a firm, but to pay for bonuses as well. The Guardian’s report necessitates an immediate inquiry.”
So glad they were able to pass a bailout bill to use our tax dollars to not just save the banks, but to hand out $70 billion in bonuses to the exact same people that helped create this crisis in the first place.