Y'know, I'm just as PO'd about the bonuses that bailout recipients have been passing out to their employees, particularly if they were the ones responsible for our financial problems. But we may be overreacting here. These bonuses were negotiated before the crash, and the government has no business intervening in this kind of business, scam or not. In my opinion, this comes under the legal definition of an ex post facto law, and when the government decides to make something illegal AFTER it has happened, then none of us is safe. I'm disappointed in Obama for pushing this, and astonished so many Republicans either agree with him or have remained silent.
These guys should catch hell and criticism because what they are doing is a travesty, but it's not illegal, and when it happened, no one complained.
If you want to pass new laws now, or deny them further bailouts because they displayed bad judgement, that's one thing. But criminal sanctions or withdrawal of already allocated funding is something else. We're on slippery slope here; it's like firing a guy after 20 years of dedicated service and then denying him his unused vacation days and pension.
Bailout Banker's Baffling Bogus Bonus
The whole thread (24 posts)
- Bailout Banker's Baffling Bogus Bonus
- Retention bonuses
- I disagree. When you are on welfare, you don't pass out millions to executives.
- Lessee, the automakers had contracts too, with Unions. Had to re-negotiate them.
- The Dodd Amendment
- Bogus Explanation - Yea Yea Take The Money & Run
- Solution - The Special Financial Institution Bailout Bonus Tax Bracket!
- I hate that I agree with you
- The employer may have a contractual obligation to include a bonus
