Saturday, January 31, 2009

Wall street bonus

The outline of his speech can be found here. But the main point that i want to point out here is the part about the bonus of the wall streeters. I just hope that the bailout funds will be spent wisely, to maintain the jobs of the middle class and not the job of a high paying banker at the expenses of many other jobs. The money should be used to increase credit lending, to keep company operating rather channelled to the bonus of bankers, just because they could earn good money during good market. I seriously think that the high flyers of the financial world are seriously overpaid, much like the ministers of Singapore as compared to the ministers of other countries. Then again, even our ministers took a 20% pay cut, why shouldn't the wall streeters, who brought about the economic crisis with their endless greed and only concern about current performance.

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