Friday March 20, 2009, 12:43 pm
Kit,

Thank you for posting this article. I am confident that of all people you would know that I am in strong disagreement of Congress passing laws after the fact... I agree with you, this is dangerous!

Friday March 20, 2009, 12:52 pm
The problem I see here is that this action was taken as a response to anger and is probably unconstitutional. Congress could have included this measure before the TARP fund or whatever it is being called today, before voting on this. These companies could have and should have been treated as any company facing bankruptcy, not given special treatment. They have used the money for bonuses, for special "fact finding" trips, for buying other businesses, but was it meant for all of that? Was this money not meant to prevent the collapse we see today? These large banks are now holding up the flow of credit, costing more jobs and damaging the ability of community banks to continue to function. Holding individuals responsible for corporate and Congressional malfeasance hardly seems reasonable.

Friday March 20, 2009, 12:53 pm
If it can't be done this way, I hope someone comes up soon with a way to get our money back. Since we, the taxpayers, own 80% of the stock of this company, I say, let's fire all the top brass and put some housewives in charge. We all know how to balance a budget and run a business, we do it every day and haven't needed taxpayer money to keep the household running. Thanks, Kit for all you do.

Friday March 20, 2009, 12:58 pm
I agree, I was pleased to here that the CEO has asked for the people to give the bonuses back, but I was fearful about taxing them. That opens a door that we probably don't want open. I like Barbara's idea of voting as stockholders. Seems like sm=omething could be done along those lines.

Friday March 20, 2009, 1:28 pm
Kit,

On 10/01/08, I made several observations and predictions in a protest letter that was posted on line... Care to guess how close I was?

Bailout Rip-Off of the Taxpayer!

Friday March 20, 2009, 3:20 pm
"In this troubled economy, and in this job market, it is difficult to imagine that the companies would not be able to find competent and talented replacements for anyone who chooses to leave,"

Rep. Barney Frank, chairman of the House Financial Services Committee comments on Fannie Mae and Freddie Mac retention bonuses!

Also, please note that , in a memo an executive at one the the banks was ordering his employees to stop calling in a bonus and refer to it as a retention award....

Don't be fooled by the mincing of words by the banking officials... it is a cash bonus!

Saturday March 21, 2009, 12:04 pm
not a good idea :(

Saturday March 21, 2009, 7:14 pm
Okay so they take their bonuses away, then what? What is the point here? I agree with Kit this is really dangerous. Here we are again, we the threat of our Constitution being completely destroyed. The government can give money then demand it back?
Going through the courts would have been a saner idea with all the books on the table. But of course if they did that there would be steeper penalties than just their damn bonuses and Bush would get caught!
Let's just appease the masses they will think we are doing something about it!
Just another distraction from the real issuses.

Saturday March 21, 2009, 7:56 pm
They are just speeding along and making it up as they go to try and save face. They are all at fault to some degree and shame on them all for thinking the taxpayers are such fools. Bailout, Stimulus ... what does it matter it's only our future, our children's future and on and on. Who will be next? AIG got the golden pass by Dodd's amendment to the stimulus at someone's request...than they all sign and pass it. Now they want to go back for a redo, scary! I want my money back but not that way.

Saturday March 21, 2009, 9:59 pm
I agree Suzanne, this is not a precedent we want to set. Who will be next?