You're doing a heck of job, Wall Street!
And the folks at Morgan Stanley? They’re planning to pay themselves $10.7 billion this year, much of it in bonuses — almost exactly the amount they are receiving in the first phase of the bailout. “You can imagine the devilish grins on the faces of Morgan Stanley employees,” writes Bloomberg columnist Jonathan Weil. “Not only did we, the taxpayers, save their company…we funded their 2008 bonus pool.”
I must say I find myself disappointed by this uncharacteristically naked theft by the kleptocracy. It just smacks of… unprofessionalism.
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