Banks Brace for Bonus Fury - WSJ.com – I read these kind of headlines with a heavy heart. America’s largest financial institutions are playing with our country. If there was any sense of patriotism or nationalism in the hearts of Wall Street’s leaders, most of the money that is going into those bonuses would be focused, instead, on the parts of the economy that are still struggling to maintain life. Money would be made available to the credit arms of these financial behemoths so that small business and frantic homeowners would begin to see credit flow again.
But that is not happening, is it? The money is going to those executives that are withholding that help so that the stockholders will feel better about the economy and likewise the company itself.
It seems obvious to me that these actions show that the companies are not interested in the health of the United States at all. So why should the government of the United States be interested in pleasing them? We need to get our priorities straight. We need to help those parts of our industry that are committed to helping the United States. Regulations should be put in place to limit outrageous compensation and directing the efforts of the financial community towards facilitating a recovering American economy.
