In December, our country lost an additional 85,000 jobs. Unemployment nation-wide continues to run at 10%. American families are hurting.
Yet in the midst of all this, Wall Street is getting ready this week to announce a new round of executive bonuses. And it looks as if it will be one of the largest payouts we have yet seen.
I think it is outrageous for huge bonuses to be paid out by Wall Street bankers during a time of hardship for the average American.
Although the actual bonus figures haven’t been announced, the New York Times reports that bailed-out banks are preparing to pay out billions of dollars in bonuses in “six, seven and even eight figure-sums for some chief executives and top producers,” rivaling bonuses provided during some of their best financial years.
Now industry executives are worried that the huge bonuses about to be announced will infuriate the American people. Wall Street should be worried.
During a continuing time of economic crisis in the United States, the payout of record bonuses by firms that the taxpayer bailed out just a few short months ago is outrageous.
The federal government should make it clear that the payout of record bonuses is unacceptable.
