http://finance.yahoo.com/tech-ticker/article/165932/Obama-Is-Right-Wall-Street's-Big-Bonus-Pool-Is-%22Shameful%22?tickers=C,BAC,JPM,GS,XLF,MS,UBS
Obama Is Right: Wall Street's Big Bonus Pool Is "Shameful"
Posted Jan 30, 2009 11:35am EST by Aaron Task in Newsmakers, Banking
Without mincing words, President Obama strongly condemned Wall Street's $18.4 billion bonus pool for 2008, calling it "the height of irresponsibility" and "shameful."
We couldn't agree more, as detailed here.
The issue is not that Obama is trying to dictate how financial services companies run their business, or what level of compensation executives make, as his critics claim.
The issue is that Wall Street firms ran themselves into the ground and came to the government hat in hand. Once your firm is on the government dole, it's outrageous for taxpayer money to be used to pay bonuses, which aren't guaranteed annually, contrary to the popular view on Wall Street
Obama Is Right: Wall Street's Big Bonus Pool Is "Shameful"
Posted Jan 30, 2009 11:35am EST by Aaron Task in Newsmakers, Banking
Without mincing words, President Obama strongly condemned Wall Street's $18.4 billion bonus pool for 2008, calling it "the height of irresponsibility" and "shameful."
We couldn't agree more, as detailed here.
The issue is not that Obama is trying to dictate how financial services companies run their business, or what level of compensation executives make, as his critics claim.
The issue is that Wall Street firms ran themselves into the ground and came to the government hat in hand. Once your firm is on the government dole, it's outrageous for taxpayer money to be used to pay bonuses, which aren't guaranteed annually, contrary to the popular view on Wall Street
