Libby Mihalka

Obama: Stop the Witch Hunts and Stabilize the Banks

I said in the article that these bonuses are egregious. My point is these bonuses represent just 0.02% of the entire taxpayer funded bailout and yet the outcry regarding these bonuses could derail the plan. It will be difficult for Congress to allocate additional funding to the bailout if everyone is having a tantrum regarding these bonuses. This whole sidshow reminds me of last fall when everyone was saying we shouldn't help homeowners or banks because of moral hazard. Look at how well that worked out. If we had taken steps sooner we wouldn't have such high unemployment and be in such a mess. We should keep our eye on the ball and not be distracted by the freak show.