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COMMENTS: Bank On It
Speaking of the $125bn partial nationalization of the major Wall Street banks, the federal infusion of funds has not altered their year-end bonus plans. NBC's Tom Costello gave a hat-tip to Bloomberg News for its analysis of the funds the major houses are setting aside to reward their traders and bankers for their so-called achievements over the past year: more than $6bn each at Goldman Sachs, Morgan Stanley and Merrill Lynch, a six figure average per person. Costello sought a reaction from Rep Barney Frank (D-MA), the chairmen of the Financial Service Committee: "If Wall Street hands out those bonuses it can bank on Congress passing much more regulation in the months ahead."
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