sundrenched

Bonus Outrage: Look for the Facts

I appreciate your trying to keep a cool head, but the problem with your argument is that in most people's eyes even the base salaries on Wall Street are very high already. The base salaries on Wall Street are "low" only relative to the total package on Wall Street, not "low" in an absolute sense.

What is it about Wall Street that without a bonus they wouldn't be motivated to do a good job? Do surgeons threaten to do a half-hearted job if they don't get a bonus? What about teachers? Firemen? Engineers? What's so special about the people on Wall Street?

Ashamed of AIG

Rather than grandstand, congress should pass a law NOW that all bonuses in firms receiving aid will be taxed at 100%. End of story.

No need to break bonus contracts and set off a deluge of lawsuits, no need to let AIG go bankrupt and set off a firestorm of CDS.