Bonus Promises Trump Public’s Anger at Bankers
• BloombergWell of course BO will not want to support something like this after all the payouts er I mean "contributions" he received from the Banks! Many of us pay taxes to governments that bailed out banks whose risks robbed our retirement funds. We tend to not look happily on big fat bonuses said banks then pay to their folks. Some 5,000 employees took home bonuses of at least $1 million. That may not be much on Wall Street, but for most Americans that’s about what they’ll see in 20 years. Median household income in the U.S. came to $50,233 back in good ol’ 2007, the U.S. Census Bureau reports. And that’s the figure for the entire annual income for the whole household. A House bill passed last week would authorize the SEC and bank regulators to bar pay practices that encourage excessive risk-taking and threaten economic health. Fear of too much government intervention will make it tougher going in the Senate. President Barack Obama isn’t inclined to support it, either.
