Quote:
No curbs on Wall Street pay despite meltdown

Despite the Wall Street meltdown, the nation's biggest banks are preparing to pay their workers as much as last year or more, including bonuses tied to personal and company performance.

So far this year, nine of the largest U.S. banks, including some that have cut thousands of jobs, have seen total costs for salaries, benefits and bonuses grow by an average of 3 percent from a year ago, according to an Associated Press review.

"Taxpayers have lost their life savings, and now they are being asked to bail out corporations," New York Attorney General Andrew Cuomo said of the AP findings. "It's adding insult to injury to continue to pay outsized bonuses and exorbitant compensation."

Banks will decide what to pay out in bonuses in the coming months. Just because they've been accruing money for incentive pay doesn't mean they will pay it out in full....


This frankly is reprehensible. What is the phrase "privatize profits, socialize losses"? This along with all those pricey spa retreats to executives in companies being bailed out by taxpayer money should be a matter of criminal action. and frankly, under a McCain Administration, i don't see there being any real possibility of holding these robber barons to account.

I can see these guys laughing all the way to the bank even as we continue to reward their failures.