Greed and the love of money got us to where we are right now. Picking up the pieces after bank collapses brought the world economy to its knees.
If you’re a US taxpayer who lost a job and or a home, the last thing you’d really want to read about is how much these bank execs are getting in salaries and bonuses because, practically, that’s your money.
So why the heck are these banks and executives still handing out damned bonuses for their people. The AIG bonus hoopla should’ve been enough to slap some consciousness into these people.
A record $140 billion in salary and bonuses have been allocated by big US banks and most of that comes from the bailout funds from tax dollars. Bank of America’s Ken Lewis was handed out a $1.5 million salary but Kenneth Feinberg, the Treasury department’s pay czar, wants it back.
And these bank bosses will tell you that they’re contractual obligations and that they’re entitled to it. Yeah. Like jobless and homeless Average Joe’s entitled to his plight.
