Bank Bailout and Restricted Compensation

The Financial Times reported that bankers were quite upset over their loss in bonuses for 2009 via taxation. In reality anything the get will actually cost them since when one adds NY State and NY City tax plus Medicare tax one approaches 102%! But that aside. There is one question, where would they go to hide, perhaps Nepal, or Paraguay. The EU intends to orchestrate even stricter rules, and if one knows Russia, well let us say there is no home there, and China and India are already occupied. Then there is the infrastructure which supports them, the networks, and of course restaurants.

But wait, what do other industries do when upon hard times? Well the just tighten the belt all around. These folks are crying like babies. They caused the problem. It is not as if they invented the option pricing formula, that was Fokker and Planck! In any business, money talks, and they of all people know that. In this case it is the taxpayer's money, NOT the Government's. The taxpayers are now your bosses and they do not like it. Then there is the self centered former trader who had been paid bonuses of $750,000 and who now barely gets by as a Pizza delivery man. What in God's name did this person do with that money? That is 20 years salary of some poor Joe and his wife and three kids! They should be lucky that they even got the Pizza job given the way they seem to have handled money! As they say you cannot make this stuff up.