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Posted by on Feb 1, 2009 in Economy | 2 comments

Wall Street Bonuses

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Pat Bagley, Salt Lake Tribune

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ALSO OF INTEREST: Watch this MSNBC news report on this issue:

  • DLS

    For those of you who are prone to overreaction, note that the correct term instead of “bonuses” should be “lump sums,” because that’s just how the pay in that industry happens to be structured.

    Does that change that it’s bad public relations? No. Mal-redistribution of wealth (ordinary taxpayers to a favored few, in this case) never is.

  • Silhouette

    Well I for one am relieved that a precious few hoarding individuals who statistically buy imported products to pad their comfy lifestyles got big fat hunks of money from future generations of the working poor!

    It’s far more effective to stimulate the domestic economy that way after all! We certainly wouldn’t want to take that same amount of money and distribute it more evenly amongst the demographics who will have to pay off the loans, in order to free their monthly incomes to spend locally. That would mean an actual stimulus to our domestic economy that would create jobs, stabilize the housing market, restore worth to banks’ bad paper and put America back on its feet.

    Yes, much preferable that a bunch of gambling nincompoops were rewarded richly for investing in themselves and repeatedly giving the US economic profile the middle finger.

    What a SMART Congress we have! ; )

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