I can't believe this is true, yet here it is. http://www.guardian.co.uk/business/2008/oct/17/executivesalaries-banking (quick exerpt) Financial workers at Wall Street's top banks are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, for their work so far this year - despite plunging the global financial system into its worst crisis since the 1929 stock market crash, the Guardian has learned. I can only hope it's a sick joke!:frustration:
That's the new corporate morals for ya. I was amazed that your government didn't hold them accountable. At least make sure they weren't paid out bonuses. but they got a pretty sweet deal with no strings attached. The British at least demanded the firing of those in charge. The bonuses need to come under control. The company I work for goes on about having to cut back, they lay off 500 people who make less than $25000 a year, then when the top salaries are posted the top 5 executives get over $4million in bonuses on top of their $500K per year salaries. I guess they had to find the money for their bonuses from somewhere. I'm all about capitalism but I also believe in checks and balances and the new corporate morals don't often add up. just my 2 cents
It's appalling! The money mongers on Wall Street should all be jailed. The American people have to pay out 700 BILLION dollars to bail out the companies that have put the global economy in the toilet in the first place. Although I'm Canadian we all have to share in the mess created by these greedy money mongers, let them contribute by foregoing thier big fat bonuses. Just my opinion.
