Igorsky

Wall Street Breakfast: Must-Know News

On bonus bill blocking Congress ....that would apply a 90% tax on executive bonus payments made by companies receiving more than $5B in federal bailout funds, it seems like our legislators once more are protecting their campaign contributors.

When they put in the provision that the law....."would apply to payments made after Dec. 31, 2008" ... they put in a big loophole that Merill Lynch bonus receipients will get to keep their bonus money after running down the company and saddling the taxpayers with debt. I wonder if this is another of Chris Dodd's/Barney Frank's unconsionable acts.