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I'm not going to defend the actions of the banks, but I think it's rather ironic that Waxman is complaining about people getting bonuses when he, and the rest of Congress, has received an automatic pay raise during the bailout. I wonder why Congress isn't applying the same standard of limits to their pay and benefits increases that they wish to impose on others?
"We're told that some of the most highly paid people in executive positions are different. They need extra money to be motivated."
So, Mr Frank, I assume you're going to return your pay raise to the Treasury Department? After all, you wouldn't want to look like a hypocrite, do you?
This is disgusting. Those men should be fired and banned from working in the banking industry for life.
What lunacy -- more than that -- this is downright larceny -- thievery -- piracy -- from the American people. They should be imprisoned.
Shameful!
And the same must be said for the Boards of these companies as well. And the mindless politicians who gave them our money.
I guess if I had secured $billions for my company I would expect to get compensated for it, after all, isn't that what executives are supposed to do.
Take the money back and give no more to these gluttons!!! Outlandish!!!!! The government at a minimum should take back what we the taxpayers have given the banks and stop giving more. Bullsh-t to this farce being committed on us by the banks and Congress and Bush. What great job did these idiots do, after all the banks would have foreclosed. That needs a bonus? No more money to the banks and no more money to the auto giants until assets have been sold, including those corporate jets. I smell something else here, are bonuses taxed less than income? disgusting and criminal!!!!!!!!!!!!!!
And another thing, how many of us middle class slobs average taxes did it take to to pay these corporate executives bonuses? And make no mistake about, WE PAID THEM!!!! If this is all the better our government can do for us, then get them the hell out!!!!
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