http://www.instablogs.com/
http://chartreuse.instablogs.com/
Bonus,Profit,Wall Street
The rancidity of Wall Street is almost beyond belief, and the culture of enormous bonuses for doing a crappy job stretches far beyond CEOs. One executive at Merrill Lynch got a $35-million bonus in 2006, for bundling un-sound home loans into bonds. Breathtakingly bad business practices, to put it mildly, but these people get hundreds of billions of dollars just for asking. And meanwhile, GM and Chrysler, giant corporations run brilliantly by comparison to the Wall Street giants, get raked over the coals when they ask for a relative pittance in loans, not hand-outs? That's the view from the top, and here's the view from the bottom, where hundreds line up for a few dozen jobs at a new fast-food place in Vegas. Obama really has some work to do.
<< Back to article
