“President Barack Obama hammered Wall Street institutions Thursday for what he called “shameful” bonuses, saying it is the “height of irresponsibility” to ask for help from taxpayers and continue to reward executives with handsome pay packages.” (more…)
This is EXACTLY why I was against Wall Street begging for handouts from the government from jump. Once you put the taxpayer’s cash in the mix, the taxpayer now has a stake in the success or failure of that company. It’s a position the free market should never be in, but these guys asked for it. What I don’t like is when the same rhetoric is pointed to companies who have not asked for Federal funds, like Starbucks.
Religious institutions who also have their hands out for taxpayer money should also take note here.
