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Turning Up the Heat on Bailed-Out Banks Over Bonuses

In letters to the heads of nine major U.S. banks getting propped up with billions of taxpayer dollars, Waxman said he “question[s] the appropriateness of depleting the capital that taxpayers just injected into the banks through the payment of billions of dollars in bonuses, especially after one of the financial industry’s worst years on record.”

Those banks have spent or set aside $108 billion to pay out bonuses to top executives, Waxman said, referencing the firms’ public filings.

ABC News: Turning Up the Heat on Bailed-Out Banks Over Bonuses

( it’s old news but it does explain the 700 billion crisis…in a word…greed )

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