NO WAY -$70 Billion in bonus payments planned by Wall Street

Without the $5 trillion global program for bailouts, every bank would be bankrupt by now even JPM or Goldman. So to the expense of taxpayers, $70 bil. of bonus are due to be paid out – NO WAY.

That would be a slap in the face of all taxpayers around the world and that Bernanke and Paulson support that is outrageous. It has to be a public mandatory claim that no one gets a higher bonus than $50k for back office and support staff, since especially they have low salaries but front office (Trader, Salespeople and M&A staff) should not receive even 1 dollar. They have been overpaid for years and the cooked profits of the banks, which their bonuses was based on, have to be bailed out now and going forward. 70 billion dollars is the least they should have to pay in (instead of getting bonuses) and even old bonus payments may be recalled in some cases of executives.

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~ by behindthematrix on October 20, 2008.

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