Good News: 10% Of Bailout Funds To Go For Bonuses

clipped from www.247wallst.com No matter how badly the economy is doing and what shareholders in American financial firms have lost, it would be a shame to see investment bankers go without their bonuses. According to The London Observer, "Financial workers at Wall Street's top banks are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, for their work so far this year - despite plunging the global financial system into its worst crisis since the 1929 stock market crash, the Guardian has learned. Staff at six banks including Goldman Sachs and Citigroup are in line to pick up the payouts despite being the beneficiaries of a $700bn bailout from the US government that has already prompted criticism."

Can't have the Reichstag fire arsonists get cold this winter now can we?

I'm sure Franklin Raines, Jamie Gorelick and the whole Fannie/Freddie crew will somehow end up with a cut too.