Andrew Ross Sorkin takes a shot at explaining why we have to pay those AIG bonuses today in The New York Times. Sorkin explains that he knows it’s not a popular view to even try to justify the bonuses — but it’s the new reality of how the business More…
When Merrill Lynch snuck in $4 billion in executive bonuses just before its sale to Bank of America, nearly everyone I spoke with said that while the move was despicable, there wasn’t anything anyone could do. Taxpayers aren’t shareholders of Merrill, and they had to just stand by and watch. More…
Is the sky falling? Are pigs flying? Apparently Wall Street executives have become sensitive to the fact that while people are losing their jobs and their homes, financial industry executives are getting set to reap big year-end bonuses, courtesy of the American taxpayer.
They’re actually thinking of curbing some of More…
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