.
November 13th, 2008
04:54 PM ET

Meaning of Goldman, Morgan Stanley‘s planned bonuses?

ALT TEXT

Click the play button to see what Jack and our viewers had to say. (PHOTO CREDIT: GETTY IMAGES)

FROM CNN's Jack Cafferty:

The economic picture got even worse today. Weekly jobless claims were the worst we've seen in 7 years. Mass layoffs continue to be announced across a variety of sectors. And the markets remain in a free fall as the Dow's off around 30 percent for the year and the NASDAQ and S&P 500 are both off around 40 percent.

The Senate Banking Committee held a hearing today with representatives from banks getting money from the big $700 billion financial bailout package. Committee members wanted to know where the money is going. Not an unreasonable question.

Bank executives said they are both lending and working with delinquent homeowners and that this money is not going to pad executive paychecks.

Watch: Cafferty: Planned bonuses?

A general counsel at Goldman Sachs told the committee that compensation, "will be down very significantly this year across the firm, particularly at senior levels... We get it."

But what does "down very significantly" mean on Wall Street? According to Bloomberg financial news, Goldman Sachs has set aside $6.8 billion for year-end bonuses, and Morgan Stanley, $6.4 billion.

That figure is down from the record setting $12.1 billion Goldman shelled out last year and the $10 billion Morgan Stanley doled out.

Granted they cut the bonus numbers in half, but that's still a mind-boggling amount. And both firms are taking taxpayers' money from the bailout package. Goldman Sachs and Morgan Stanley each got ten billion dollars.

Here’s my question to you: What does it mean when Goldman Sachs and Morgan Stanley are planning to pay $13.2 billion in year-end bonuses?

Interested to know which ones made it on air?

John from Fort Collins, Colorado writes:
It means that top management for both companies must have been born on the sun. It is unbelievable that in today's dire economic environment any financial institution would pull such an in-your-face stunt.

Liz from Towson, Maryland writes:
It means the companies' executives have no souls, no consciences, no common decency, and an overwhelming amount of greed.

Willow from Iowa writes:
We need to pass some kind of regulation stating that no bonuses can be given to companies in the bailout, and the top management payroll can be only a certain amount over other employees’. We are essentially the owners until they buy themselves back, so we should be able to set the terms.

Sarah writes:
It means that the bailout cash they received was given without pre-conditions. The government gave them the money and actually “trusted” that the companies would use it to start lending again, when in fact they just kept it as running capital for things like bonuses.

Greg from Frankfort, Kentucky writes:
It means that all systems are “go” for the continual looting of the U.S. Treasury (or what's left of it). As usual, the only people asked to sacrifice significantly are the ones who can least afford it. It also sends a mixed message to Main Street when Wall Street can make such an extravagant gesture in the face of "the worst financial crisis since the Great Depression."

John from Marlborough, Massachusetts writes:
What brain-dead, big shot negotiated this mess? Paulson came from Wall Street and knew full well that his cohorts get monster bonuses. Curious that he wasn't insightful enough to negotiate their elimination.


Filed under: Goldman Sachs • Morgan Stanley • US Economy
soundoff (316 Responses)
  1. Happy in Arizona

    If any of these companies are receiving bail-out taxpayers' money, no bonuses should be paid out whatsoever. Rules should have been we bail you out, all contracts, severance packages, bonuses to management become null and void. President Bush and Paulson should be tossed in jail for using taxpayer's money without restrictions. In essence, they have stolen money from the taxpayers.

    November 13, 2008 at 1:13 pm |
  2. Chuck in Sheboygan, WI.

    Jack: It means business as usual for the corporate cronies of the current administration. Heck, who needs oversight when it's helping out your buddies. Someone has to pay for that yacht you want to spend the weekend on. Might as well be the sucker taxpayers.

    November 13, 2008 at 1:16 pm |
  3. lynn

    Isn't this just an example of the failed Bush administration and Republican "trickle down" economics all the while standing against living wages for the middle and working class?? Americans need to stop believing that anyone is worth that kind of monetary reward!

    Ironically that is half of what the Big 3 is asking in loans to try to regroup!!, save manufacyuring jobs and the small businesses that support them.

    November 13, 2008 at 1:16 pm |
  4. Gary in High Point

    It means Paulson and Bush screwed up

    November 13, 2008 at 1:16 pm |
  5. Jim, Kansas

    These people are all worried about loosing their jobs. Let them enjoy their year-end bonuses, Jack.

    November 13, 2008 at 1:16 pm |
  6. Lisa, Ashford, Alabama

    13 BILLION in bonuses? Gee, I'll have to think about it once I find some loose change under my sofa cushions to pay for dinner tonight.

    November 13, 2008 at 1:17 pm |
  7. M Dixon Cedar Rapids, Iowa

    It means not only will they be able to sleep at night having screwed us over, but they will be able to do it on solid gold beds.

    M Dixon
    Cedar Rapids, IA

    November 13, 2008 at 1:18 pm |
  8. odessa

    it's very disgusting,shameful, and selfish business thugs doesn't care about the poor and middle classes losing their homes nor their investments..the public needs to know about more these companies for ripping off average workers for their own greed and power..people are losing their homes everyday,people are struggling on their paychecks to pay bills or food, etc, it really makes me sick to my stomach..

    November 13, 2008 at 1:21 pm |
  9. Jenny Rome Ga

    Jack,
    13 billion huh. Shouldn't they start repaying their loan that saved their collective butts? Why not take that money and pay down the national debt of which their part is at least I believe 75 billion or more.

    November 13, 2008 at 1:21 pm |
  10. JB Long Beach, CA

    In this time of world-wide economic crisis, caused in large part by the greed of Wall Street, the awarding of bonuses in any amounts to Wall Street insiders is counter-productive. Providing incentives for bad economic behavior is contrary to the essence of free market capitalism. Just like insider trading and fraudulent ponzi schemes, the awarding of undeserved bonuses will destroy public confidence in the current economic system. When the populist backlash eventually occurs, whether from the left or the right, the Wall Street insiders will never know what hit them.

    November 13, 2008 at 1:23 pm |
  11. Jason , MA

    So, apparently the bailout plan pulled a reverse Robin Hood; steal from the poor, give to the rich... so glad to be an American right now.

    November 13, 2008 at 1:24 pm |
  12. Terry, Chandler AZ

    It means they should: 1. Never get another dime of federal assistance 2) Every GMS client should cash out and move to another firm.

    November 13, 2008 at 1:25 pm |
  13. Arlene, Illinois

    As my 96 year old Dad use to say " Let them eat cake"
    whatever that meant.

    November 13, 2008 at 1:26 pm |
  14. Matt in ABQ

    It means that any company that gets a government bailout, then any & all bonuses should be suspended until the company is financially stable and no longer needs a bailout. Furthermore, all senior executives & board members should be paid no more than minimum wage.

    November 13, 2008 at 1:26 pm |
  15. Mike S.,New Orleans

    It means that American taxpayer dollars are being used to support corporate welfare. Hopefully this is the end of government of the rich, by the rich, and for the rich.

    November 13, 2008 at 1:26 pm |
  16. Tom in Desoto, TX

    Why just today I read where Bush doesn't want any strings or regulations attached to the bailout funds. (Accountability, probably the democrats idea.) Hmmm, I wonder what some of them will spend it on...? Same ole republicans, different day.

    November 13, 2008 at 1:28 pm |
  17. JD in NH

    If they haven't received taxpayer bailout dollars, I don't care what they do, although given the shape of the economy I doubt any of them deserve a bonus. If they are on the receiving end of my tax dollars, that's another matter. If I can't afford to buy Christmas presents this year – which I can't – there is no way I want my hard-earned dollars footing the bill for an end-of-year bonanza for people who have created the worst financial crisis since the Great Depression.

    November 13, 2008 at 1:28 pm |
  18. arlene rannfeldt

    I say, get rid of everyone and i mean the companies too and start over with new people, new laws that you can't find loopholes for these things to go on, and finaly get some honest people in these positions..i guess absolute power does corrupt absolutely so i guess nothing will ever be done. Business will go on as usual. i don't care what you do at these companies , you aren't worth that kind of a paycheck..get over yourselves.

    November 13, 2008 at 1:28 pm |
  19. Sam, Seattle WA

    Jack,

    It means we've been ripped-off, and it's happening right under our noses. Typically when a theft occurs, and the perpetrators are identified, they are thrown in jail. Where is the justice?

    November 13, 2008 at 1:28 pm |
  20. Carl Deshazer

    Jack,
    What this means to me is business as usual. They should not be allowed to get away with this, this is a crime, these people need to be in jail. This is what is wrong with big business and our government, everything is motivated be greed.
    Carl

    November 13, 2008 at 1:29 pm |
  21. Joe in VA

    Greed rules! The same greed, lack of integrity, and disregard for investors and collective good of this country that has us in the economic mess we are in now. Not much more I can say.

    Chatham, VA

    November 13, 2008 at 1:30 pm |
  22. Mike - Pueblo

    Jack,

    It means the morons of these companies are doing their best to build a case for U.S. socialism. IDIOTS! I'm so mad, I could spit stock options.

    Cheers,

    Mike – Pueblo, CO

    November 13, 2008 at 1:30 pm |
  23. Elle from Pullman, WA

    It means too many people are getting rich off the government bailout deal that so many government officials were "against" – yet approved anyway.

    November 13, 2008 at 1:31 pm |
  24. Jackie in Dallas

    That they don't need a penny of the US taxpayer's bailout money –unless those bonuses are going to people making less than $80,000 a year.

    November 13, 2008 at 1:31 pm |
  25. Darlene Louisville, Ky

    It means America need a complete overhaul with this free market system. The lack of regulation given to big business have truly crippled our economy and were continuing to let them benefit from our tax dollars. This is truly an outrage. It time to stop given to the man and start sticking it to the man. The only bonus these pseudo criminals need is a pink slip.

    November 13, 2008 at 1:32 pm |
  26. Stacy from Loudoun County VA

    Well Jack, they had better bankroll those bonuses for their respective legal defense funds when this is through. It really is like they say, "The lawyers are going to end up with it all."

    November 13, 2008 at 1:33 pm |
  27. Conor in Chicago

    What does it mean? That without revolution we will continue to get poorer and the rich will continue to steal from us and tell us it's for our own good. It makes me think about how the Republicans started calling Obama a socialist and I thought, "Thank God, finally, a socialist!". Maybe now the government will stop the cycle of stealing from the poor to help the rich, the rich giving politicans money in return, lather-rinse-repeat.

    November 13, 2008 at 1:34 pm |
  28. Linda in Florida

    This whole bonus thing has me so incensed I can barely see straight! Where do these companies get the nerve to even think about rewarding people who have put our financial system in such peril? I agree with everyone who is saying there should be no bonues, but how about this as an alternative? Tell them to give their bonuses and then we deduct that amount from the bailout money. I also don't think putting H. Paulson in charge of this money was a very good idea. As a former CEO of Goldman Sachs, do you think he wants to see his cronies not get what they think is due them?

    November 13, 2008 at 1:35 pm |
  29. Elaine from Columbus, OH

    It means the American taxpayers are being screwed over yet again. The government needs to quit "bailing out" these companies when they use the money for their top executives' bonuses. How these company top officials look at themselves in the mirror is a mystery to me!

    November 13, 2008 at 1:35 pm |
  30. Sherrol in Canada

    If they have received any of the 700 billion, then it's totally wrong!!

    November 13, 2008 at 1:35 pm |
  31. Frann Altman in CA

    Jack:
    Bbbbbbbbbbbbbbbbbbbbbbillion? Did you say billion?
    It means I'm in the wrong place, doing the wrong job, living on the wrong planet..
    Beam me there Scotty, cause life on planet earth is just not making sense.
    Sign me,
    Feeling that 13.2 billion slaps in the face

    November 13, 2008 at 1:35 pm |
  32. Anthony Miller

    Jack,

    It simply means it is all about Numero Uno, Wall Street and crumbs for Main Street.

    November 13, 2008 at 1:36 pm |
  33. Brian Becker

    It means that the Bush Administration has pulled another fast one on congress and the American people.

    November 13, 2008 at 1:36 pm |
  34. Anthony Smith

    It means that this government and our version of capitalism is a joke and criminal. Yet, the people are immune to it. That scares me the most. The government, corporations, and big oil are robbing us blind and the people do nothing about it! Empathy? Pathetic!

    Wildwood Crest, NJ

    November 13, 2008 at 1:36 pm |
  35. Allan Hanson Cameron Park Ca.

    It means we have been screwed again as usual.
    Aren't these the same people whose incompatance caused the problem in the first place?
    Many laws were broken which means they should be tried and sent to prison.
    I guess the laws only for the unconnected.

    November 13, 2008 at 1:38 pm |
  36. Karl in Minesota

    It means that you and I are paying a higher price or tax for something. Obviously the money has to come from somewhere. What started out as greed is now considered an entitlement. Although I do not like unnecessary regulation, something has to be done to get executive compensation back in line with historical perspective. Go Dems!

    November 13, 2008 at 1:40 pm |
  37. terry in maine

    This is why there is a separate code of Ethics for Business.

    Now I hear American Express wants a few billion dollars in loans. This i can agree with. The interest rate is 30 percent, late fees and penalties will be 1 percent of the balance.

    November 13, 2008 at 1:41 pm |
  38. Susan, California

    It means we should withdraw the bailout money, demand immediate repayment and let them go way, way, under!! How many times do those idiots have to be hit over the head before they understand they CANNOT profit from their failure at the expense of the American taxpayer.

    November 13, 2008 at 1:41 pm |
  39. Daniel Ambrose

    Jack,
    Well, goody goody for them. I highly doubt now is a good time for bonuses to be given out since this country is seeing its high volume of millions of American people unemployed. Seriously though, it is rather depressing to hear of it when many of our fellow Americans could use the bonuses to save their own homes. I say to them, don't spend it all in one day.

    Daniel Ambrose,
    Atlanta, GA

    November 13, 2008 at 1:43 pm |
  40. Gary - Woodhaven, Michigan

    It means as a society and culture if we allow this to happen we have lost virtue, morals, and human spirituality as the higher power is truly power and greed.

    November 13, 2008 at 1:43 pm |
  41. Cheryl Longshore

    It means we shouldn't have bailed them out in the first place. Given their contempt for the American taxpayer, we should have let them fall flat on their faces, and damn the consequences!

    November 13, 2008 at 1:43 pm |
  42. John W. Hall, Fredericksburg Virginia

    Jack,

    It means the US Government really has no control over the bailout funds or the banks that receive them. So what if the bank execs get dragged in front of a Senate investigation committee? They'll sit there, take a little heat, say they are sorry then walk away rich. Not bad for a few hours in the hot seat. This situation will never get better until we hold CEOs and other executives accountable by putting them on trial and sending them to jail. Unfortunately until that happens as a normal way of doing business the taxpayer will continue to fork over cash and stand by as they watch their money go down the drain.

    November 13, 2008 at 1:43 pm |
  43. Patrick, Odenville, Al.

    Jack,
    It means that President Bush and Paulson has done a very good job in striking fear into the hearts of the American people so that their buddies on Wall Street can continue to live high off the hog. When are we going to learn to stop listening to the Bush Administration whenever they cry out in a panic mode. They lied about Iraq and now they are lying about this economic crisis.

    November 13, 2008 at 1:43 pm |
  44. Tim

    That's It !!!! Obviously they're suffering just like the rest of us in this meltdown.

    November 13, 2008 at 1:44 pm |
  45. Dale

    Is anyone in charge in DC or have control of anything? Virtually overnight, it is decided that $700 billion will be used to bail out Paulson's cronies (since Paulson came from Wall Street himself). And no one lays down any ground rules as to how these funds are to be used and distributed. Between the incredible use of these funds for AIG's retreats and now for paying these unbelievable bonuses to people who drove their respective companies into the ground, it seems as if Santa Claus has come early to Wall Street.

    November 13, 2008 at 1:45 pm |
  46. Irv Lilley

    Jack , Just another example of the greedy wealthy people's attitude of "
    "Let them eat cake" The business leaders and wealthy of this country sould care less about the rest of the nation. .

    November 13, 2008 at 1:45 pm |
  47. Tina from NJ

    What does it mean?!....it means the American taxpayer got screwed...AGAIN!!!!

    November 13, 2008 at 1:46 pm |
  48. Dennis from Albuquerque

    It means either not enough strings were attached to the agreement or they are ignoring the conditions. If it were up to me, I would rescind the agreement and take the money back.

    November 13, 2008 at 1:46 pm |
  49. Venia PA

    It means the banks shouldn't get a dime. This whole bailout thing to me seems awfully fuzzy. Who and what are we actually bailing out? I believe that was a last minute effort by bush to reward all his cronies before he left office, the ones who didn't become gazillionaires already while he was in office.

    November 13, 2008 at 1:46 pm |
  50. Brian from Fort Mill, SC

    If it were up for me, I would make them walk the streets like homeless people, wearing signs that read "Will work for bonuses!"

    November 13, 2008 at 1:47 pm |
  51. WC in Kansas City MO

    It means that these financial institutions did not get the message or change the core of greed that they are operating under. I wish I could have the job stability to do such a terrible job that I bankrupt a company yet recieve bonuses at the end of the year for it. Oh wait, I'm just a rank and file person in the financial industry, not a big wig, so I must settle with being more productive while getting less pay and working more hours.

    November 13, 2008 at 1:47 pm |
  52. Justin

    These executives don't just think that "greed is good", they think "greed is God".

    November 13, 2008 at 1:50 pm |
  53. Susan from Georgia

    it means that the American people get screwed again.

    November 13, 2008 at 1:52 pm |
  54. Rose in Az

    It means that Congress and the Administration failed to do the job right. There should be no bonuses with our tax dollars. Someone dropped the ball.

    November 13, 2008 at 1:52 pm |
  55. Annie, Atlanta

    It means I've been a fool. Where do I sign up for a position where I can do the worst job possible for the highest wage imaginable, plus bonus? Is there anyone left in this government that has any idea what they're doing.

    November 13, 2008 at 1:52 pm |
  56. Richard, Syracuse, NY

    this is just another example why the "average Joe" does not trust Washington. This Administration lied to us again. They were more concerned about helping the Banks and Wall Street and not Main Street. It is going to take a very long time for Washington to earn the people's trust again.

    November 13, 2008 at 1:53 pm |
  57. CRAIG R. MCNEES

    tampa, fl as old p.t. barnum used to say, there's a sucker born every minute. and yes we taxpayers are suckers if we put up with this.

    November 13, 2008 at 1:54 pm |
  58. Bruce H

    Bonuses should get paid out based upon meeting financial objectives and the overall health of the company. Evidently they are having a good year and don't need any federal bailout funds. But then, they better not ask for federal funds if next year turns out to be a tough one.

    November 13, 2008 at 1:54 pm |
  59. kevin MASS

    GM, Ford, and Chrysler should start planning their Christmas parties now!

    November 13, 2008 at 1:55 pm |
  60. Jane (Minnesota)

    If Goldman Sachs received taxpayer bailout money this is totally outrageous!!!! The CEO compensation rules need a complete overhaul & regulation instead of de-regulation. It's the prime example of "redistributing the wealth upward" at the expense of the average worker and the taxpayers who are trying to make a living. The CEO's should be ashamed. It seems to escape the CEO's understanding that the hard work of the people that work below them make a company successful & that bonuses should be awarded only when a company is profitable through it's own business activities & bonuses should not be limited to the higher ups!!! This is totally disgusting to me.

    November 13, 2008 at 1:57 pm |
  61. Katiec Pekin, IL

    It means Paulson and our government are not doing their jobs!
    There should be no perks of any kind with our taxpayer money and
    how and why this is being allowed is beyond me.
    It means all funds should be put on hold until rules and regulation
    are implemented and control of our money be immediately held
    by our government.
    It means Paulson should be replaced.
    It means I cannot wait until Jan. 20th, although if something is
    not done all that money will be blown.

    November 13, 2008 at 1:57 pm |
  62. Laurie

    It means congress needs to demand they return any and all tax payer dollars and never again seek to be bailed out by the American people!!!!!

    November 13, 2008 at 1:59 pm |
  63. Lex

    Contempt for the American taxpayer? The banks haven't shown any more contempt than the media or the two presidential campaigns.

    November 13, 2008 at 1:59 pm |
  64. Susan in Maine

    Jack,

    It means it is time to redefine Ethic's 101 in business...Ethics is a major branch of philosophy, encompassing right conduct and good life. A central aspect of ethics is "the good life", the life worth living or life that is simply satisfying, which is held by many philosophers to be more important than moral conduct. We are witness to "the American Business way" where most companies idolize the good life over the moral conduct. Business equals money not morality. Appalling as it is, it won't change. Any Business out there willing to set an example and not take the bonuses?

    November 13, 2008 at 2:00 pm |
  65. C in Belen, New Mexico

    It seems to indicate that the terms and conditions that were placed on the "bail out" by congress are being ignored by the banks receiving money and the Treasury Department handing out the taxpayers' dollars. Personaly, I would recomend that Congress sic the IRS and the Justice Department on the banks and the bureaucracy at Treasury to sniff out any contempt of congress, conflict of interest, ethics violations, income tax issues etc... Those big bonuses won't look so good if they'll be going as a down payment on legal fees.....

    November 13, 2008 at 2:00 pm |
  66. Larry Coury ( Houston, Texas )

    Jack –

    It means : Fire Paulson......period. And no more Bailout, EVER, for
    Nobody !

    Larry Coury
    Houston TX

    November 13, 2008 at 2:00 pm |
  67. Andrew

    It is proof that regulation is necessary. Uncontrolled greed is the enemy of a real capitalist society.

    November 13, 2008 at 2:01 pm |
  68. David in San Diego

    It means greed is still good. The assymetry of bonuses is astounding–when you "luck out" through no or little skill you get a big bonus, but when you mess things up you only get your big salary–no payback.

    November 13, 2008 at 2:01 pm |
  69. AFM Florida

    Sounds like the investors are the one's who is being bilked out of profits they should be getting.

    November 13, 2008 at 2:01 pm |
  70. AndyZag Fairfax, VA

    It means I'm in the wrong line of work!

    November 13, 2008 at 2:02 pm |
  71. Jessica

    It is unbelievable to me that these corporations would provide such cushy bonuses for the very scumbags that spiraled this country into the economic downturn we now face.

    November 13, 2008 at 2:04 pm |
  72. Stacy from Fairfax, VA

    It means the Wall Street foxes are guarding the Treasury hen house.

    November 13, 2008 at 2:04 pm |
  73. Sandi, Chicago

    It means under the Bush Doctrine... the rich got richer and the poor, middle class got screwed again!

    November 13, 2008 at 2:06 pm |
  74. Elvira, VA

    Without a revolution I see no hope for this country. Pure capitalism leads to socialism. History. Tha what happened in Europe. People are getting tired and what their share. Even with a new party in power I have no faith that things will change.

    November 13, 2008 at 2:07 pm |
  75. Billy in Las Vegas

    means thay should ALL join former Tyco International CEO Dennis Kozlowski and father-son John and Timothy Rigas of Adelphia infamy in PRISON for FRAUD.

    November 13, 2008 at 2:07 pm |
  76. Ken in Seattle

    It means that they are using taxpayer money to reward themselves for their part in bilking us all out of 700 billion dollars. These crooks have absolutely no shame, honesty or integrity. Every single one of these flimflam men& women should be put behind bars. Jack, can you have a soul and work on Wall Street? It's a rhetorical question. There is a special corner reserved for these folks.

    November 13, 2008 at 2:08 pm |
  77. Svein from Oregon

    If the bonus was "earned" thru positive sales, then so be it. But if they are getting these because they were a warm body in the right seat then I think that seat should just be emptied.

    November 13, 2008 at 2:09 pm |
  78. Greg in Cabot AR

    Jack, I think there is a of lot of truth in the saying that “there's a sucker born every minute”. We, the American people, were suckered into having our military invade Iraq under the threat of Weapons of Mass Destruction and it looks like we were suckered again into allowing Wall Street to invade the U.S. Treasury under the threat of another Great Depression. Don’t get me wrong, our economy is in the toilet, but it looks like the 700 billion dollar bail out is already being miss-managed by the same folks that screwed up in the first place.

    November 13, 2008 at 2:09 pm |
  79. Ron, Centennial, Colorado

    Well Jack,

    This obviously means that those who receive these bonuses deserve them because they have worked so hard and they have been successful. Of course these deserved bonuses will go to all their employees who worked hard and did a good job and not just to the top management. How can anyone possibly think that there could be anything unfair about this?

    November 13, 2008 at 2:09 pm |
  80. Ceee, Kansas

    It's like the lyrics to that old song, "The rich get rich and the poor get poorer." Only the next line is "In the mean time, in between times, ain't we got NONE".

    November 13, 2008 at 2:09 pm |
  81. Bailey, Fort Myers, Florida

    If these companies took government bailout money they should put the corporate officers in jail. What about the ordinary people they don't even have jobs and these companies are giving themselves millions in bonuses.

    November 13, 2008 at 2:10 pm |
  82. JR in Norfolk VA

    It means we are still living in a free-market, capitalist system.

    Enjoy it while it lasts.

    November 13, 2008 at 2:10 pm |
  83. Jim/NC

    If that happens the CEO's should be fired and have to spend one week (24/7) with Barney Frank.

    November 13, 2008 at 2:11 pm |
  84. Meg Ulmes

    Jack–
    It means once again we've been had by the Bush Administration and a rubber stamping Congress. It is hard to believe that Paulsen just gave our money away without putting any restrictions on its use. I feel like impeachment proceedings need to get started. Corruption is rampant in DC. Once again we've been fed to the pirhanas. And what's worse, people losing their homes can't even get a chance to adjust their mortgages so they can pay what they owe. That wouldn't be right. But, hey, let's make sure those CEOs get their bonuses.

    Troy, Ohio

    November 13, 2008 at 2:12 pm |
  85. Tina (Texas)

    This just makes my blood boil over. This is not right. I bet their employees won't get anything. This is not what I thought the bail out would mean but once again D. C. has lied to me.
    Tina Tx

    November 13, 2008 at 2:13 pm |
  86. Cy. Ft. Washington, MD

    Another heist completed. Look at W's smirk. Tells the whole story. They did not want oversight in the first place, and after all is said and done, there is no oversight. Every one of them is making out like the bandits they really are. Are you surprised?

    November 13, 2008 at 2:17 pm |
  87. Scott

    Jack

    It means that they ripped off the Government, they should be brought up on charges of theft!

    Scott – Dover, DE

    November 13, 2008 at 2:17 pm |
  88. LUCY - ILLINOIS

    I can't even imagine that kind of money. My husband had three jobs close their doors before he retired with little pension. I actually think there is no need for CEO's. They are a waste of good money.
    Fire them all and don't give anymore bailouts to banks etc. Shame on the Repubs for getting our great Country in this shape.

    November 13, 2008 at 2:17 pm |
  89. Richard Green

    Jack,

    It means that nothing at all has changed. Our hundreds of billions of dollars have been put in the pockets of the already super rich so that they can enrich themselves further. Our Senators and Congressmen are corrupt, crazy, or both if they don't put rules and restrictions on how every dollar handed to these failures is spent.

    If we always do what we always did, we'll always get what we always got.

    Rich Green
    San Clemente, Cal.

    November 13, 2008 at 2:17 pm |
  90. Dave in MO

    I don't know but let's take the easy way out and blame Bush. It seems to work for everything else!

    November 13, 2008 at 2:18 pm |
  91. Larry from Georgetown, Texas

    Jack, it's just one more nail for the coffin to bury the current administration or to at least put them in a real prison. Better don't close Gitmo, just send them down there and make sure we use every means of torture to get to the truth, including water boarding. I guess Wall Street wasn't as bad off as the lying people like Paulson said.

    November 13, 2008 at 2:19 pm |
  92. Constance - Seattle

    Bush stuck it to us again. I find the whole idea of those crooks getting a bonus sickening. When will it all stop? I say 1-20-09. But will he screw us again before then? I am not holding my breath. They could use that to pay down some of the 585 billion we owe Japan or the 541 billion we owe China. Do most of you know that we even owe Angola, Bermuda, Bahamas and many other very small countries money? I am sickened.

    November 13, 2008 at 2:20 pm |
  93. Bill from Medford, NJ

    I continue to be horrified by the violent workers' revolutions of the previous century, but I understand them a little better when I hear about stuff like this.

    November 13, 2008 at 2:21 pm |
  94. vern-t anaheim,ca

    it means the rich get richer and the poor poorer

    November 13, 2008 at 2:21 pm |
  95. Richard Stetson

    It means that we taxpayers have deep pockets and not only are these institutions re-capitalizing their poor performing divisions on our dime it proves that Paulson has no control of the money he is giving away.

    Richard
    Providence, RI

    November 13, 2008 at 2:21 pm |
  96. Michael "C" Lorton, Virginia

    Jack: It means "departing gifts" to their executives for a job well done.

    November 13, 2008 at 2:22 pm |
  97. hugh ~ california

    "If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that grow up around them will deprive the people of all property until their children wake up homeless on the continent they conquered." –Thomas Jefferson

    The corporation elite is ruining America, and after they've sponged the vast majority of our wealth, they'll all move to Europe and Asia, where they can start fresh. It is an outrage. What I think should happen to people like this cannot be fully expressed without violating the limits of decency.

    November 13, 2008 at 2:22 pm |
  98. Paul Round Rock, Texas

    It shows me that our nation is still selfish and give me mine and take it from the other guy even if it hurts the other guy. It is SAD VERY SAD.

    November 13, 2008 at 2:22 pm |
  99. Deb, Allentown, PA

    You can't be serious, right, Jack? Is Goldman Sachs receiving any benefit from the bailout? If so, and if they choose to continue to pay bonuses of any kind, Goldman Sachs should be fined for at least the amount of the bonuses. This is irresponsible corporate stewardship and is indicative of just what a mess this era of deregulation has wrought.

    So the CEO and upper management don't get astronomical bonuses. What are they going to do? Go look for another job? I don't think so....not in this environment.

    November 13, 2008 at 2:23 pm |
  100. Mike, Syracuse NY

    All you Bush bashers need to remember that it was the Democratic Congress that pushed for the bailout and authorized the money. Yep, that's the same Democratic Congress that you people voted for an even bigger Democratic majority in. Why do you expect things will get better, when the same people are running things?

    November 13, 2008 at 2:23 pm |
  101. Jim, from Las Vegas

    It means every single member of Congress who voted for the bailout should be replaced, no matter what party they belong to. The Democrats are neck deep alongside the Bush administration on this one.

    November 13, 2008 at 2:23 pm |
  102. devil dog

    bonus are for work done above your normal job and make a company lots of money, not cost them alot , and the rep think the dem are bad,

    November 13, 2008 at 2:25 pm |
  103. Tom Ft Lauderdale

    Jack
    If my mathematics are correct they should still have 56.8 billion left out of the 700 billion for next year, if the auto companies don;t steal any . My question is How much money has the Bush Party given away to date? ( Bear AIG etc.)

    November 13, 2008 at 2:25 pm |
  104. Mike - Hot Springs, Ar.

    It means we should investigate both firms and start preparing the indictments now.

    November 13, 2008 at 2:25 pm |
  105. kenneth sibbett

    It means that this country is so mesmerized by Presidents, CEO,s money managers and business pundits they haven't the slighted damn thing what;s really going on. It's the same same thing that been going on since the beginning of time. Screw the taxpayer.

    Kenneth Chadbourn N.C.

    November 13, 2008 at 2:25 pm |
  106. Mark in OKC

    It means that those getting the bonuses should also get a "pink slip" with their bonus check.

    November 13, 2008 at 2:26 pm |
  107. Michael "C" Lorton, Virginia

    Jack: It means, "business as usual."

    November 13, 2008 at 2:26 pm |
  108. Alan, Buxton Maine

    It means they think we are all fools and they have Paulson in their pocket.

    November 13, 2008 at 2:26 pm |
  109. Terence Dougherty

    It means i am working for the wrong company..Ooops, oh yeah, i got laid off last month. Is Unumployment Compensation offering bonuses this year?

    November 13, 2008 at 2:27 pm |
  110. Nancy

    It means we should have been bailing ourselves out with our tax money, instead of them, Jack. In a word, we've been had.

    November 13, 2008 at 2:27 pm |
  111. KarenB, Florida

    All that money given to one individual, no strings attached, to dole out ...and that was given by the Democratic controlled congress to Paulson. Enough said.

    November 13, 2008 at 2:28 pm |
  112. John in Arizona

    It points out how similar Congress and big business are – incompetence is rewarded. It also calls into question one of our universally accepted cultural myths – namely, that crime doesn't pay.

    November 13, 2008 at 2:29 pm |
  113. Laurieann Petker-Huffman Willits, CA

    That's a disgusting amount of money, and if they were decent people they would donate that money to the homeless, or the hungry, or the elderly whom have lost their pensions.

    November 13, 2008 at 2:30 pm |
  114. Gary NC

    It means they do it because they can.

    November 13, 2008 at 2:32 pm |
  115. D.J.Lauter

    When an employee does a bad job, he is fired or demoted. I cannot explain why these people should be given a bonus for a poorly done job.

    There should have been restrictions from bonuses and parties before they were bailed out.

    Doris
    Ojai, California

    November 13, 2008 at 2:32 pm |
  116. Paulette,Dallas,PA

    Haven't they taken enough from the American people? Do they have no shame? How can they sleep at night knowing that it is due to their mismanagement that our economy is in this terrible position. I think it is a travesty that Congress would let them get away with this shennanigan. Hold them accountable for their greed.

    November 13, 2008 at 2:33 pm |
  117. F Machado - Connecticut

    It means that the financial companies should not be bailed out.
    That's outrageous.
    These are companies that the government heed to have a sight when in the future the come asking for rescue, and say NO.

    November 13, 2008 at 2:34 pm |
  118. Michael and Diane Phoenix AZ

    The rich get richer?...Ironic isn't it, even Goldman and Morgan Stanley are going to "lay off" more workers, but not the guys who get the "big bucks!" Remember folks, it's Paulson's Goldman cronies who are in charge of the bailout.

    November 13, 2008 at 2:35 pm |
  119. Mike C. - Wethersfield CT

    Jack,
    It means business as usual, no one who is at or near the top levels of, business or politics, is held accountable for anything. So why should we be surprised, that when our country is going bankrupt, these leaders of industry and politicians continue to steal from and corrupt any efforts to stop the downward spiral of our economy. The last eight years of this administrations morally corrupt and illegal behavior deserves vigorous prosecution. If this country is going to survive and even prosper in the years to come our leaders must know that they are not above the law and that any illegal behavior will result in an arrested and prosecution no matter who they are.

    Mike C.
    Wethersfield, CT

    November 13, 2008 at 2:35 pm |
  120. Lorenzo in Atlanta

    Wall street continues to party while main street suffers. I can see that if either of these two fail, then they'll have their hand in my pockets too excpecting to bail them out. This is typical Jack. These people live for now. They have their cake, eating it too and are asking for a piece of the pie as well. If they fall, then the government shouldn't be there to pick them up, but show them some tough love by turning and walking away to have them pick themselves up or either crumble to dust.

    November 13, 2008 at 2:36 pm |
  121. carol in Oregon

    It means the rest of the world is saying we must be the dumbest people in the world to sit by and watch this happening. It makes you wonder who our real enemy is.

    November 13, 2008 at 2:37 pm |
  122. Barb New Port Richey Fl

    It would appear to mean we, the "main street" have been had once again. Fool me twice....shame on us!!!

    November 13, 2008 at 2:37 pm |
  123. Christine from California

    It's Bush's farewell gift to some of his cronies. But to the rest of us, it's free-market capitalism run amok.

    November 13, 2008 at 2:38 pm |
  124. Liz in Towson, MD

    It means the companies' executives have no souls, no consciences, no common decency, and an overwhelming amount of greed.

    November 13, 2008 at 2:38 pm |
  125. John, Marlborough MA

    What brain-dead big shot negotiated this mess? Paulson came from Wall Street and knew full well that his cohorts get monster bonuses. Curious that he wasn't inciteful enough to negotiate the elimination of these blood-sucking bonuses. Or wasn't it really curious – just deceitful. You decide.

    November 13, 2008 at 2:38 pm |
  126. Ann, Newton, New Jersey

    It means Paulsen is taking our hard earned money from our hands to theirs. Paulsen is the fox in the hen house.

    November 13, 2008 at 2:40 pm |
  127. Roy - Chicago IL

    Why can they not refuse to pay the bonuses...then get sued by the recipients, then settle for pennies on the dollar. Seems to me this is the way they would handle it if a consumer sued THEM!

    November 13, 2008 at 2:40 pm |
  128. Conor in Chicago

    I'm sure if you ask the Bilderbergs, the Council of Foreign Relations, and the IMF, privately they'll tell you that everything is going according to plan.

    November 13, 2008 at 2:42 pm |
  129. mac from traverse city Michigan

    It means they think the Bushies and the republicans are still running the country and nobody is going to hold them accountable. I hope the dems haul them before congress and if they can't convict them of anything then at least humiliate them on a national stage on a grand scale and let the public get to know who they are. Apparently these fools haven't noticed that the oil companies and speculators have loostened the thumbscrews since it became apparent that the dems would be the new sheriff in town after the election and would be holding their feet to the fire if they continued to gouge us. Maybe Obama should raise the tax rate on excessive corporate greed to 100%.

    November 13, 2008 at 2:43 pm |
  130. Anita from Tennessee

    I think it is time for a wide sweep of all of these people–starting with the removal and trial of Paulson! It is not a good idea to put the fox in charge of the hen house! When are a number of these people going to jail???

    November 13, 2008 at 2:43 pm |
  131. Jenna Wade

    What does it mean when Goldman Sachs and Morgan Stanley are planning to pay $13.2 billion in year-end bonuses?

    Not with MY Tax Dollars.. They are confused.. Looks like they don't need $13.2 MILLION from our bailout package. We can giveit to our Auto Makers..

    Jenna
    Roseville CA

    November 13, 2008 at 2:43 pm |
  132. Fem, Knoxville, Tenn.

    Simple, we have been duped!!!.

    November 13, 2008 at 2:44 pm |
  133. Janis, Lafayette, IN

    It means that these who receive the bonuses will be able to afford houses, boats, cars, lavish parties, the exclusive club memberships, trips to exotic locations, manicures, designer clothes, and all of the amenities that wealth brings to them such as excellent health care, retirement without worry, and food beyond imagination. It means that I will die from heart disease because I don't have a job so that I can have health insurance, that I continue to lose weight because I can't afford to eat more than once every 2 days, that I have to walk everywhere because I can't afford a car or the insurance, gas or maintenance that comes along with it, that I have to live with a parent who is trying to survive on $600 a month social security, that I have lost everything I worked for for 30 years. It means that nothing will change for me or for them.

    November 13, 2008 at 2:46 pm |
  134. Willow, Iowa

    We need to pass some kind of regulation stating that no bonuses can be given to companies in the bailout. and the top management payroll can be only a certain amount over other employees. We are essentially the owners until they buy themselves back, so we should be able to set terms. These CEOs going on "seminars" etc. should not be allowed. We have certain regulations for fraud, and we should set a certain standard for the bailouts.

    November 13, 2008 at 2:46 pm |
  135. Bill, Quarryville, Pennsylvania

    It means we live in the Bizarro world. Instead of a rewarding companies who make profits we reward companies who go bankrupt by giving them bailout money and bonuses. The world I worked in you only got a bonus when your company made a profit. I would like to know how you can run a company, when you reward top management with bonuses when they were responsible for your company going into bankruptcy with bad decision making.
    The people running Wall Street companies were probably children that were raised playing sports where no one kept score and every one won. Now they have infiltrated business with this same philosophy. That is the only answer I can think of for such a stupid thing to do.

    November 13, 2008 at 2:47 pm |
  136. Cindy, CA

    It means the 'greedy' are gonna really cash in before Bush leaves office, and before new policies of regulation, ethics, and fairness are legitimatized as noteworthy tools to protect taxpayers in the future.

    They have no problem exploiting our tax dollars in paying for their failures. And yet, we are not beneficiaries of their 'golden parachutes'....an in-your-face obscenity of the very excess, greed, and corrupt values that brought us to this moment.

    At some point, we have to say, "no, take the hit and fail." No one is coming to the rescue of the everyday folks who are losing their jobs, their 401k, their homes, and their healthcare. And the regular folks aren't walking away with millions of dollars for screwing things up!

    November 13, 2008 at 2:47 pm |
  137. Pugas-AZ

    Maybe a dose of reality in this area would be good. Not receiving a bonus might make someone rethink the kind of business they are in and the impact of out-of-control wealth accumulation has on the country.

    November 13, 2008 at 2:48 pm |
  138. Marty

    It's shows that you can't teach old dogs new tricks, especially when you expect them to teach themselves with little or no supervision.

    November 13, 2008 at 2:49 pm |
  139. Sonoran Desert DT

    It means that this land of opportunity has spawned a whole new breed of men without souls again just like it did during Bush Sr's years as President. They are and their right wing political puppets have insured that no matter how bad things get in this country...they still win! Pretty charactaristic of the end of another elitist Republican Presidency cycle.

    November 13, 2008 at 2:49 pm |
  140. Ray, Florida

    It's not a good sign Jack!
    They maybe anticipating hard times ahead, and grabbing big bonuses now while they can.
    Wait and see! Six month's from now they'll be hitting Washington up for big money like the rest!

    November 13, 2008 at 2:50 pm |
  141. Lori

    Why are we surprised at all? We keep voting in their buddies. It is our fault because we don't do anything about it except whine. When will voters realize that the only difference between Republicans and Democrats are the corporations that fill their pockets?

    November 13, 2008 at 2:50 pm |
  142. Melanie in IA

    It just proves that all the little people were right to call their Congressman and women to say they didn't want the bailout. We were right, they are all spoiled crooks who don't deserve our help.

    November 13, 2008 at 2:52 pm |
  143. Rob , NYC

    it means if they do they have to give back all the money they've already stolen from us

    November 13, 2008 at 2:52 pm |
  144. Lynn, CA

    It means the oversight committee needs to get on the stick and plug up that hole, if there is any legal way to cancel the bonus or to lower it than action should be taken – but I believe there is something in the Constitution about fulfilling contracts – maybe put a limit on executive bonus so that it will never be more than 5% of an individual's annual income or $100,000 which ever is less – how about putting a 95% tax on any bonus over $1,000 – that ought to do it!

    November 13, 2008 at 2:54 pm |
  145. Melanie in IA

    It just proves that all the little people were right to call their Congressman and women to say they didn't want the bailout. We were right, they are all spoiled crooks who don't deserve our help.

    November 13, 2008 at 2:54 pm |
  146. J in ALT

    That's simple .... it means we are being screwed again!

    November 13, 2008 at 2:55 pm |
  147. John in Rohnert Park

    It means that once again . . . We've been HAD !

    November 13, 2008 at 2:57 pm |
  148. Greg

    It means that all systems are go for the continual looting of the U.S. Treasury (or what's left of it). As usual, the only people asked to sacrifice significantly are the ones who can least afford it.. It also sends a mixed message to Main Street when Wall Street can make such an extravagant gesture in the face of "the worst financial crisis since the Great Depression." How are the American people supposed to take such grim declarations seriously when these guys are laughing all the way to the bank? Crisis? What crisis?

    Greg, Frankfort, KY

    November 13, 2008 at 2:57 pm |
  149. Sarah Louise

    It means that the bailout cash they received was given without pre-conditions. The government gave them the money and actually 'trusted' that the companies would use it to start lending again, when infact they just kept it as running capital for things like bonuses. The moral of the story is – don't give crooks cash and expect them to do the right thing.

    November 13, 2008 at 2:58 pm |
  150. Monica

    It means Paulson is an idiot.
    If it was up to me they wouldn't have recieved $13.20

    Chicago

    November 13, 2008 at 2:58 pm |
  151. JW Georgia

    It's further proof that we are privatizing profits, socializing losses, and that the Bush administration and Congress who supported taxpayer exposure to these firms are totally out of their minds.

    November 13, 2008 at 3:00 pm |
  152. Wyoming Jack from Jackson, WY

    It means the American taxpayers have been played for suckers.

    November 13, 2008 at 3:00 pm |
  153. John Stroud

    Jack,
    "Time to parteeee!!!!! I hope I get an invitation.

    November 13, 2008 at 3:01 pm |
  154. bob, oshawa, ontario

    Jack, it means they are worse off than anyone of us could have imagined. American taxpayers, the middle and lower income groups, have only themselves to blame for not demanding a larger bailout package. Once again, the taxpayers have failed the free market system by not providing cash toward the larger bonuses management deserves. Psst! Guys, could you toss me a few thou for my sympathy to you in these economically troubled times? You know, the trickle down part.

    November 13, 2008 at 3:03 pm |
  155. Susan Pittsburgh, PA

    Come on Jack, this is America. Land of Opportunity. This is one big reason I voted for Obama.

    November 13, 2008 at 3:03 pm |
  156. NANCY , Grand Ledge MI

    It means they are out of touch with the real world. That is what has caused a lot of the problems we are having. I never got a bonus for failing!

    November 13, 2008 at 3:05 pm |
  157. Roland

    It means that the so-called "bailout plan" was full of holes. But I think that was part of Paulson's plan all along. Hold us all hostage by terrifying the Congress/Senate into hastily giving him a checkbook filled with signed, blank checks with little to no accountability by telling them that we would all be standing in line for soup kitchens if they didn't. And given Paulson's Goldman-Sachs background and obvious conflict of interest and allegiances with all of his Wall Street buddies, is anyone really surprised? I'm not...and neither should you be. And the Republicans were making a big deal of Obama's alleged association with Bill Ayers? Give me a break!

    Roland
    St. George, UT

    November 13, 2008 at 3:05 pm |
  158. Maggie in NY

    It means that we need to stop all future bailouts. We were told that this bailout was needed to get the economy back on track. Obviously there were no restrictions placed on what that money such as salary caps, bonus suspensions, etc. I'd like to know why they didn't place some restrictions on this bailout money. And I'd be willing to be that if we bail out the big-3, we'll get the same result.

    November 13, 2008 at 3:07 pm |
  159. Mark Cowan in PA

    It means instead of bailing out the banks we should be paying off peoples morgages based on merit, and then let the banks use that money to cover the bad morgages they issued or collapse. If my morgage was paid off then I would spend alot more that would help the economy rather than have it go to the banks who just pay their highest people with big bonuses for taking risks with my/our money. A Firing squad might also be in order. Hopefully the FBI review of them will result in some serious jail time for the people at the top.

    November 13, 2008 at 3:07 pm |
  160. Randy Ayn

    You Have Got To Be Kidding Me! Do these international bankers have no shame?

    November 13, 2008 at 3:10 pm |
  161. Ray in Nashville

    It means Paulsons plan has worked... he has enabled his buddies on Wall Street to be able to get their money.

    November 13, 2008 at 3:12 pm |
  162. steve

    the good 'ol boys are still in charge .
    steve
    dana point , ca.

    November 13, 2008 at 3:13 pm |
  163. Byron

    It means they should have borrowed $13.2 billion less.
    and NOT pay the bonuses.

    November 13, 2008 at 3:13 pm |
  164. Mageen

    They have a death wish.

    November 13, 2008 at 3:14 pm |
  165. Lenore in Kansas

    It means it's an outrage that such bonuses are even legal. Why wasn't there a built-in sanction against such travesties? It means also that most of us have no idea how things are done in the corporate world, and even less idea about how to enforce any sanity to the problem.

    November 13, 2008 at 3:14 pm |
  166. David,San Bernardino,CA.

    It means that all these scum have suckered the politicians again and we taxpayers have the great honor of paying for it,again.

    November 13, 2008 at 3:15 pm |
  167. Michael SPerry

    It means that they really didn't need our tax dollars all that much.

    November 13, 2008 at 3:15 pm |
  168. Honest John in Vermont

    Clearly it is shameful and an insult to all Americans. Paulson's/Bush's Bailout is a mess and the banks only enrich...themselves with tax money. Now I understand why the French used a guillotine. There is no end to the corruption of these crooks which we subsidize.

    November 13, 2008 at 3:15 pm |
  169. Diogenes in a greek joint in Reno

    that even in downturns some reward the pretty people.
    and others in upturns cannot even be treated fairly.

    November 13, 2008 at 3:15 pm |
  170. Barry Wantagh,NY

    It is an outrage! These people are responsible for the worst financial mess in the last 50 years and they get bonuses! To add insult to injury those multi million are being paid for by the people. If these bonuses are paid then congress must rescind the bailout funds there companies may get. This gives new meaning to the word chutzpah.

    November 13, 2008 at 3:15 pm |
  171. Doug (Ottawa)

    Jack, it means the rich and powerful are only for the rich and powerful.
    The British did it right when they accepted the resignations of some of the CEO's of the banks they bailed out and cancelled all bonuses in exchange.
    Wouldn't it be novel if they tried that in the USA.

    November 13, 2008 at 3:16 pm |
  172. Diane Dagenais Turbide

    Hi Jack,

    it means they are laughing at people!

    November 13, 2008 at 3:18 pm |
  173. Paul S. Columbia, SC

    Barack Obama needs to grab all that cash and spread it around to us; just like he said he would. A promise is a promise.

    November 13, 2008 at 3:18 pm |
  174. Barbara - 65 yr old white female in NC

    Hmm – the welfare for the wealthy continues. Makes me wonder what the Congress will give themselves for a pay increase also .................

    November 13, 2008 at 3:18 pm |
  175. George

    Guess that is what we get for throwing them a lifeline. Should have just thrown them a big rock, and let them sink along with the rest of us. If this isn't a RED FLAG, then we can't see. Looks like they learned a lesson from AIG on how to really put it to the American people. Its time to take another good look into the real facts of what happened to the money that is supposed to be lost BEFORE we let them have one more red cent.

    November 13, 2008 at 3:18 pm |
  176. Keith - Halifax, Canada

    It means “let them eat cake” and Americans may have to storm the Bastille.

    November 13, 2008 at 3:19 pm |
  177. Dennis, Columbus, Ohio

    So very sad!
    Where is the great American sprit ?
    Clearly not on Wall Street !
    😦

    November 13, 2008 at 3:19 pm |
  178. independent4ever los angeles, ca

    Didn't Hamlet say 'something is rotten in the state of Denmark'? Part of the bailout should have been that no bonuses are to be given to fallen CEO's. Perhaps, also, capitalism is not all that's it's cracked up to be.

    November 13, 2008 at 3:19 pm |
  179. Jeff in Glen Carbon IL

    It means they all want to be put in jail for the rest of their lives, because that is where they belong!

    November 13, 2008 at 3:21 pm |
  180. andrea from foxborough, MA

    par for the course !!!!!!!!!!!!!

    November 13, 2008 at 3:22 pm |
  181. Michael Fermanich, Marinette, Wisconsin

    Jack it means investment companies are grandstanding trick and treat and can you common people smell our deceit.

    November 13, 2008 at 3:23 pm |
  182. Vinnie Vino

    Jack,

    It means they think Joe the taxpayer can afford to reward them for their poor mangement of the companies they led into begging the Government for a financial bailout for their own company's survival, how hypocritical of them...

    C.I., New York

    November 13, 2008 at 3:23 pm |
  183. Karen from Missouri

    Bonuses? Holy Moley! Bonuses for what? Someone please explain why those boneheads deserve a bonus! Sheesh!!!

    November 13, 2008 at 3:23 pm |
  184. Yvonne, Michigan

    What this means; a perverted version of the Robin Hood story. The rich stealing from the poor and giving to the rich. It means the financial assault on American's wallets, retirement accounts, home values, jobs and buying power is such a small price to pay to ensure the greedy and incompetent Wall Street slime makes out in the end. It brings a new meaning to knowing low people (Paulson) in high places....

    Yvonne, Michigan

    November 13, 2008 at 3:24 pm |
  185. Richard, Enoch, Utah

    This means that the government still are not taking care of us, the American people. This is a disgrace to us all to allow these people to get away with this. I thought there was going to be a ceiling on what those theives get.

    November 13, 2008 at 3:24 pm |
  186. Mike in St. Pete Beach, Florida

    It means that clearly those bonuses will not be distributed based on performance.

    November 13, 2008 at 3:26 pm |
  187. Tony from Torrington

    They are re-distributing our wealth.

    November 13, 2008 at 3:27 pm |
  188. Ginger H -- West Melbourne, FL

    It means they better start packing and updating their passports.

    November 13, 2008 at 3:27 pm |
  189. Shannon Wadding, St. Paul, MN

    Plainly put, Once again the American taxpayers are taking the shaft at the full hilt while the rich hoard their money and expect the poor to pay for their incompetence.

    November 13, 2008 at 3:28 pm |
  190. Erik

    Jack, it means that I'm in the wrong business field. Maybe it's time for a change in career.

    November 13, 2008 at 3:28 pm |
  191. Dan, Maryland

    It means they haven't learned their lesson...I have an idea....let's pass a law that says obscene bonuses for failing companies should not go to the employees but should go to tax payers or should be dumped back into the market to supplement any governmental bailouts.

    November 13, 2008 at 3:30 pm |
  192. C. Farrell, Houston, Tx

    Jack it means just what I thought, it is a little less in bonuses than the original amount.

    November 13, 2008 at 3:31 pm |
  193. terry lickel, scottsdale AZ

    jack,
    it means i'm working for the wrong company!!

    November 13, 2008 at 3:32 pm |
  194. mitchell ,arkansaw

    it says it's time for everyone to make a run on the banks,and then we'll see how much in bonuses they get.

    November 13, 2008 at 3:34 pm |
  195. Ingrid, new york

    the bonus' are the deepest show of disrespect and disregard for this country and its people, it illustrates the lack of morals and ethics of the corporate/ free market economy (and people wonder why socialism becomes so attractive to those who make under 100,000 per year?). they are providing proof that the whole "lower corporate taxes and they will stay in the USA" philosophy is malarchy. the corporations would take the lowered taxes and still move, just as they take the bail out and split it among a few hundred people. they think NOTHING about the american people. i continually feel violated and betrayed.

    November 13, 2008 at 3:34 pm |
  196. Leo in Oakland

    It means they are criminals for taking tax payer dollars. I work for a financial institution and we're always being told we have to tighten our belts. No more bonuses, no salary increases, etc. The "we" seems to pertain only to non officer employees as our CEA just recently sold almost one million shares of company stock. the only people tightening their belts are the ones that are living on the edge to begin with. The rich are only getting richer.

    November 13, 2008 at 3:35 pm |
  197. Cliff, Front Royal,VA

    It means the public is getting screwed.

    November 13, 2008 at 3:37 pm |
  198. tj TAMPA

    Greed still begets Greed.. So much for the safe guards the government put in place.. First they screwed the public by getting the big tax breaks now they are just raping the public, with help from the government.. I call it Economic Genocide..

    November 13, 2008 at 3:38 pm |
  199. Jim Rogerson

    I do not approve of banks and corporations using my money to pay huge bonuses while I struggle. I think that there is another way to "bailout" banks and corporations: they make a good product and we buy it.

    November 13, 2008 at 3:38 pm |
  200. jyll from TEXAS

    It means something is rotten in Denmark, Jack

    November 13, 2008 at 3:39 pm |
  201. Pat in MIchigan

    It's a sham and it sickens me Jack. I don't know how these people could be so callous with so many people out of work and hurting, that they could even consider such a thing. I also think that if we bail out the auto industry it should only be done under the condition that they re-open the factories here in the US and employ US citizens.

    November 13, 2008 at 3:40 pm |
  202. John

    Jack: If Goldman Sachs or Morgan Stanley recieved any of the bailout funds they should have pay $13.2 billion back to the federal government, plus a large 20% fine of the 13.2 billion they plan to give in bonus. But, Jack that would take a federal government that had brain.

    John
    Alabama

    November 13, 2008 at 3:42 pm |
  203. R.W Graytown Ohio

    Without bonuses they might have to live in "relative poverty." What will the neighbors think?

    November 13, 2008 at 3:43 pm |
  204. Ralph Nelson

    Greed knows no shame. Once a pig always a pig. Let's toast them. Ralph, Yakima, Wa.

    November 13, 2008 at 3:44 pm |
  205. Emi in Providence

    What happened to "Absolutely no golden parachutes" ? Isn't this the same thing? Where is the committee to make sure none of this was supposed to happen?

    These companies need to be hijacked and there needs to be government regulation yesterday.

    The sickening thing is.......the rest of us can only sit and watch.

    November 13, 2008 at 3:46 pm |
  206. Al Russell (Baltimore)

    This means that, the so call "Bail Out " they said they so desperately needed was never needed at all. All they needed was, monies to increase their bonuses. This is a slap in the American people's face and they should give the Bail Out money back " with Interest'.

    November 13, 2008 at 3:47 pm |
  207. Terri in Spring Hil, Florida

    I think stipulations should have been put forth before giving any bailout. It is not fair...I know my company is not giving out bonuses this year – we did not receive a bailout from anyone. No one is complaining where I work. Everyone understands. This is abuse....abuse of the taxpayers.

    November 13, 2008 at 3:47 pm |
  208. Jean-Marie Olivier

    ....and Paulson insists that "the facts have changed". Well Jack, from my point of view, one fact has certainly not changed. His old friends continue to get richer at the expense of the poor. It must be his definition of the american dream! What do we know?

    JM
    Nova Scotia

    November 13, 2008 at 3:48 pm |
  209. Don W Dixon, IL.

    I was paid a year end bonus according to how well I and the company performed. Seems to me that whatever bailout money they're getting is being filed under profit which means something has to change fast or they need to be removed by mob action.

    November 13, 2008 at 3:48 pm |
  210. Marci

    It seems to me that it means they feel their senior managment is doing such a good job running the country that they obviously don't need to governenment bail-out money. Good, I am sure that we can find something to do with it – like give it to the people who can't afford to heat their house – they can burn it!
    Marci, Chalfont, PA

    November 13, 2008 at 3:58 pm |
  211. Jim

    This is a joke....right..?

    November 13, 2008 at 3:59 pm |
  212. Jasmine in Germany

    It means the system needs to be overhauled. I am outraged, Jack.

    November 13, 2008 at 4:00 pm |
  213. Jenny from Nanuet, New York

    It means they still don't get it and never will.

    November 13, 2008 at 4:00 pm |
  214. Tim in Texas

    It's socialism Jack; they're just spreading the wealth around among themselves. Better call in Joe the Plumber.
    Tim in Texas

    November 13, 2008 at 4:01 pm |
  215. Jerry from Jacksonville

    Jack it means that the american taxpayers just got the shaft.

    November 13, 2008 at 4:01 pm |
  216. Kevin in Dallas, TX

    Thomas Jefferson once said "banking establishments are more dangerous than standing armies." Truer words were never spoken.

    November 13, 2008 at 4:01 pm |
  217. ozzi

    Correct me if I'm wrong....but aren't bonuses given out to reward GOOD performance????
    If they're in a position of needing to be bailed out by those of us who get no bonus no matter how well we perform our jobs and pay our taxes, then I would have to assume that no one performed in a manner for which they should be rewarded!!!! They obviously screwed up...ROYALLY!!!
    This is just unconscionable!!
    They should be so ashamed of themselves for robbing the taxpayers so they can live like royalty, while we taxpayers all go searching for the stores with the sale on hamburger meat so we can keep THEIR steaks, champagne and caviar flowing!

    It's just not right!

    November 13, 2008 at 4:01 pm |
  218. Jaime, Sunrise Florida

    It means that the bailout is plainly and simply a rob from the poor to give to the rich scheme. All hail Robbin' Paulson!

    November 13, 2008 at 4:02 pm |
  219. JoAnn Hardy in Iowa

    They thumb their noses at taxpayers when they pay out bonuses. Are bonuses paid for performance?? Performance has been terrible. No bonuses.

    There should not have been a bailout. They should have all filed chapter 11 and negotiated their way out of the mess.

    It appears that only taxpayers have to have pain in this. Fat cats still get bonuses and luxury vacations.

    November 13, 2008 at 4:03 pm |
  220. Lois

    It means Paulson and Morgan Sachs out-smarted all of Congress and the Senate. They got what they wanted! Just another couple yachts in the Carribean seaports, whereas we the poor man can't even get a rowboat in there!

    Lois & Veronica
    California

    November 13, 2008 at 4:04 pm |
  221. Anna

    This is just the American way. We do not mind bailing out rich to make sure that they have money but we do not want to bail out auto industry because union workers will make too much money.

    November 13, 2008 at 4:04 pm |
  222. ejmounsey Granville Ohio

    There should be absolutely no bonuses paid by any institution receiving federal bail out money, and Congress and the president should exact that rule immediately. Call a special meeting of both houses of Congress tomorrow morning. EJM Granville Ohio

    November 13, 2008 at 4:05 pm |
  223. lisa tx

    kick them all out and start over there are plenty of people that would just like to have a job without the bonus.

    November 13, 2008 at 4:06 pm |
  224. Tim

    Jack,
    It's never been said" Legalized crime doesn't pay" ., and it gives hope to Ferrari , Rolls and Lamborghini that they may very well become the new big three.

    November 13, 2008 at 4:06 pm |
  225. RC in SC

    ...means the Republicans are in charge and for big business.
    ...means the tax payers are considered suckers.
    ...means the next people in charge will shift the money to their own pockets

    November 13, 2008 at 4:06 pm |
  226. Annie Florida

    Jack, it means "screw the american middle class taxpayer".

    November 13, 2008 at 4:07 pm |
  227. Jim from Chicago

    Jack, it means that it is time to cut the amount given to these overpaid Thankless-giving turkeys by 50%. In this country, we refer to that as "shared sacrifice."

    November 13, 2008 at 4:08 pm |
  228. kendall

    it means they are full of greed, America is suffering and they are worried about bonuses larger than most peoples 401k's they are losing daily in the failing economy. also I'd like to know what is holding banks/mortgage companies back from setting fixed rates for all of these people who obviously got pushed into these arms they can't afford..wouldn't it benifit all to save the homes from forclosure prior to a bailout, prior to a complete economical crash? Is it simply greed that is allowing these banks/mortgage companies to ruin us

    November 13, 2008 at 4:09 pm |
  229. Chris Thompson, Savannah GA

    I'm pretty sure it means I should have been one of the bad guys! I make my mortgage payments on time and in full. I pay outrageous medical insurance premiunms for little to no coverage, I pay my credit card off every month religiously and am spending my retirement savings to keep my head above water. Perhaps If I stop doing all that, the Feds might consider me a failing entity and give me some a gigantic bailout reward for my bad behavior! Ya think?

    Chris Thompson
    Savannah, GA

    November 13, 2008 at 4:09 pm |
  230. Jenny Kidder

    Do they really get it? The middle class work harder everyday for a fraction of what they make in a year AND most of us have been told that we won't be getting holiday party's or bonus's this year. Why should they get any kind of compensation?

    November 13, 2008 at 4:13 pm |
  231. Heidi Dressler

    What does it mean? It means these people are morons. Don't they get it? I've been unemployed for 18 months, losing my house to foreclosure, filing bankruptcy but their bonuses go on. When does the average guy get a break? Give US the bonuses!

    November 13, 2008 at 4:13 pm |
  232. Rob Burns

    Dear Jack,

    The meaning? It means they're thieves.

    Rob
    Wenonah, New Jersey

    November 13, 2008 at 4:13 pm |
  233. Tania Fowler

    Didn't companies used to distribute bonuses based on end of the year profits and performance?? When did pay structures automatically start factoring bonuses regardless of performance?

    November 13, 2008 at 4:13 pm |
  234. Melanie Kirk

    It means that they should be getting 13 billion dollars less from the feds. None of those executives should be getting a bonus, based on their (lack of) performance. No way the American public should be on the hook for a penny, and shuffling the bucks around like a shell game doesn't count...
    Nanaimo, BC, Canada

    November 13, 2008 at 4:13 pm |
  235. Doris A. Schwartzberg

    How dare they!!!!!!! Why are there no restrictions on the bail out gifts? How dumb can we be? I'm outraged!

    November 13, 2008 at 4:13 pm |
  236. PIM DUFF

    can i have some of that money?

    it makes me sick that we cannot do anything about this!

    November 13, 2008 at 4:14 pm |
  237. Daniel (Roselle, NJ)

    They should not be issuing bonuses at all. If they have enough money to pay bonuses, they should not be receiving relief through the Bail Out package.

    November 13, 2008 at 4:14 pm |
  238. Brad B - NYC

    Bonuses are suppose to be a reward for a company performing above expectations, 13 billion plus is bonuses to companies that needed 20 billion in a gov't bailout...I that thought process should we let all NFL teams get a share of the superbowl title. Cause these losers are winning in the end as ppl lose thier homes and jobs.

    November 13, 2008 at 4:14 pm |
  239. teri karshner

    It means they don't "get it."

    November 13, 2008 at 4:14 pm |
  240. Felicia (in Georgia)

    It means that the administrators are inept, and should be fired. the $13.2 B should be a premium on the $700 B loan from the federal government. Bonuses are given for failures??? This is absurd!

    November 13, 2008 at 4:14 pm |
  241. Kim

    Hmmm...let's see. I am self-employed, with no health insurance, just needed shoulder surgery, am struggling and barely staying afloat financially, and I might add, emotionally...BUT, I am being asked to contribute to this bailout program, so THEY can get bonuses! Nevermind their regular salary, but BONUSES! Problem, what problem?

    November 13, 2008 at 4:14 pm |
  242. Cecelia

    Whenever I receive a bonus at work, it means the company did well. These executives surely cant make the argument these businesses have even done half well.

    No, they should receive the same bonus I would - nothing.

    November 13, 2008 at 4:15 pm |
  243. Cornelia

    It means, due to downsizing, I am unemployed and can't even conceive the concept of Christmas this year, yet comforted by the fact that my tax dollars will ensure a wonderful Holiday for Sachs or Morgan Stanley. The gift of giving...

    November 13, 2008 at 4:15 pm |
  244. James

    The dollars involved make it look like the taxpayers are paying six- and seven-figure bonuses to the people who got us into this mess. That just doesn't compute when the lines for unemployment insurance grow longer by the day.

    November 13, 2008 at 4:15 pm |
  245. dixie - AZ

    It means that these so called "rescue bills" were poorly structured, with little or no oversight. Bank bailouts the same. Paulson is a former member of the Wall St. elite. It's like having a rabbit watch over the garden.

    November 13, 2008 at 4:15 pm |
  246. Steve Wilson

    No one at Goldman Sacks should be getting a bonus at all, those that accept one should go to prison!

    November 13, 2008 at 4:15 pm |
  247. carol, from pittsburgh

    No one who receives a government bailout should be giving out or receiving a bonus. That's not "theirs" to give. I feel like our financial system fell through the looking glass.

    November 13, 2008 at 4:15 pm |
  248. Ruth McInerney

    Since I have been out of work for a year now, it means I need to find a way to get my name on that list!

    Ruth M.
    Alabama

    November 13, 2008 at 4:15 pm |
  249. Ann - Baltimore

    It means ...bottom line.... we (taxpayers) got "bamboozled" more than we thought we would... But not at all surprised.

    November 13, 2008 at 4:15 pm |
  250. Frank

    Where is the oversight for this bailout?
    It seems the inmates are running the asylum.

    November 13, 2008 at 4:15 pm |
  251. Louise L.Gallone

    Jack, it simply means that it is time again for a massive march on Washington to convey our disapproval!!

    Louise IN

    November 13, 2008 at 4:16 pm |
  252. James W. Blevins

    We are in great need of change. Considering the state of the financial system, no bonus money should be paid. We are trying to return to the two class feudal system where the nobility is rolling in money and the serfs (most of us) are struggling for basic needs. Obama's quoting the Gettysburg address was most appropriate - "government of the people, by the people and for the people".

    Jim, Craig, CO

    November 13, 2008 at 4:16 pm |
  253. DALE NEW MEXICO

    Once a fatcat always a fatcat , and its fat kittens to. NO you cannot trust them one way or another, they're going to get their money.

    Dale New Mexico

    November 13, 2008 at 4:16 pm |
  254. Scott Parker

    This is appalling. When will big business get their act together? I've worked for several companies and when they didn't do well, they didn't give our bonuses – bonuses used to be tied to performance. Congress should have made this a stipulation regarding the bailout money. geez.

    November 13, 2008 at 4:16 pm |
  255. Art inTX

    Jack, maybe we should be asking if this is going to be going on after January? And why? And who is responsible for it now??

    November 13, 2008 at 4:16 pm |
  256. Jimmy from NC

    Jack, and they want us to feel sorry for them?

    November 13, 2008 at 4:16 pm |
  257. Jeff in Connecticut

    It means they are, like the Bush administration, sociopaths. They are predators, with no regard for other people or their country. They need to be removed from our society.

    November 13, 2008 at 4:16 pm |
  258. Martin M.

    It means they don't really care about their companies. That could be the money they need to keep their company afloat. Instead we're the one's who are left to worry about their company's future. Company's participating in these policies should be denied government support.

    November 13, 2008 at 4:16 pm |
  259. Richard

    It means someone's going to be able to buy their kid a new Xbox or that new Mercedes or their new mansion. It's just not going to be me and 99.8% of the rest of us.

    Richard
    Avalon, Catalina Island, CA

    November 13, 2008 at 4:16 pm |
  260. John Johnson

    Jack,
    It means we as tax payers should total up our bills and request
    a bailout from congress.

    John
    Baton Rouge,La.

    November 13, 2008 at 4:17 pm |
  261. Mark

    We should have expected this type of disregard for the charity of congress. They give bonuses to their employee, when the money was meant to keep their company from bankruptcy! When unemployment is at a high and families are losing their homes, these companies that brought about this situation are giving their employee's bonuses. These employee's and executives should be taking pay cuts in my opinion. Here in Michigan, the auto industry in fledgling and the unemployment expands exponentially. While congress is still deciding whether or not they want to help the "rust belt." I just don't know what to think anymore.

    November 13, 2008 at 4:17 pm |
  262. Joyce Pilotte

    It means, Jack, that these firms (and others) do not understand the purpose of bonuses. Bonuses should be paid for work well done. The fact that these firms needed taxpayer money to stay in business may not be a direct result of actions of all of the executives who will receive bonuses, but they certainly didn't keep the business failure from happening. If I do a bad job at work, I get fired. These executives just get a slightly smaller fortune in bonuses. It's apalling!

    November 13, 2008 at 4:17 pm |
  263. Scott Sherman

    I think that if companies are going to get help from this bailout package then they should be restricted from providing bonuses, such trips as AIG, etc. They can either do that or bail themselves out...

    November 13, 2008 at 4:17 pm |
  264. Jim S.

    CORPORATE GREED, Greed, Greed, and more greed. This is exactly what put us in the place we're in and they're still doing it. Unbelievable.

    November 13, 2008 at 4:17 pm |
  265. Just Me

    It means we're screwed! Again! I'm just curious, if you have to be bailed out by the government, how can you possibly feel that anyone in your company earned a bonus of any amount?

    When will all of the rest of us go throw open the window and scream... "I've had enough and I'm not going to take anymore!"

    Anyone up for a tea party? I don't feel like I am being represented by any party or ideology!

    November 13, 2008 at 4:17 pm |
  266. Rev. Stefan M. Jonasson (Winnipeg, Canada)

    It means that bank executives still don’t get it. If they’re really that stupid, no wonder the banking system is a mess! Bonuses are customarily paid as a reward for good performance. When a bank is teetering on the brink and requires government assistance to remain in business, then its management’s performance can only be rated as a failure, which means that the appropriate bonus is zero.

    November 13, 2008 at 4:19 pm |
  267. johns minnesota

    I can not believe our elected officials are allowing this to happen. Maybe it is time for another election. The sooner the better.

    November 13, 2008 at 4:20 pm |
  268. william r little

    It's a crime that the american people are losing, jobs, homes, and their pride while these greedy people drive us further into the hole, and get a bonus as well. I hope they take their bonus, and leave the country they helped to ruin. It's not just ridiculous. I see no reason for a bail out. Let them crash and burn like the rest of us.

    November 13, 2008 at 4:20 pm |
  269. Homeless Harry

    One word: Sickening!

    November 13, 2008 at 4:20 pm |
  270. Alec Hunt

    What it means Jack is that the US taxpayers have been screwed over yet again by the wall street parasites. These jerks who produce nothing have their hands in the cookie jar yet again with the collusion of congress.
    Alec

    November 13, 2008 at 4:20 pm |
  271. T. Darnell

    It means that we the taxpayers just paid their bonus this year, and from what I'm hearing from the present admin we be paying for their Christmas parties as well.

    November 13, 2008 at 4:21 pm |
  272. Kim

    Wow, my understanding of bonus's would be for the fact that the companies had done well. If they've done well they shouldnt need bailing out. Therefore no bonus's should be awarded to any executives of any of theses companies that have their hands out.

    November 13, 2008 at 4:21 pm |
  273. John M Tudor, Jr., M.D.

    The usual justification for big bonuses and investment returns is the big risk that are managed. When the risk loses, or the ship goes down, that is not Grade-A performance. No bonus. zero. zilch.

    November 13, 2008 at 4:21 pm |
  274. Donald Goodemote

    Thats crazy, how can you get a bonus when you ran your company in the ground. England had a bailout earlier this year and i believe the way that worked was that you could not recieve bonusus until you paid back the money that was given to you. Why cant our bailout have a similar rule, after all we are paying for it anyways.

    November 13, 2008 at 4:21 pm |
  275. Woody Lewis

    More and more I think the bailout package was handled incorrectly. The 700 billion would equal over 230 thousand per person, and it should have been given to the individuals to stimulate the economy–it would have burst at the seams, think of the new cars sold, mortgages paid off, etc. Too bad our government allows the taxpayers be used as suckers then throw in a bunch of pork! Cheat us and deceive us.
    Let the executives drive the business in the ditch and reward them handsomely!

    November 13, 2008 at 4:21 pm |
  276. Glynda Mieloszyk

    Everyone of the executives taking money from the bailout should be fired, repay all of the money they spent on bonuses, trips, etc. and not receive bonuses, raises, etc. of any kind. They made mistakes. If I made the mistakes they made at my job, I would have been fired.

    November 13, 2008 at 4:21 pm |
  277. Sylvia

    It's simple – the writing is on the wall. Our democracy is no more and our Constitution is null and void. We have entered into a hodge podge of Imperialism, Socialism, Marxism, Elitism, Nationalism and just about any other kind of "ism" and no one is doing a thing about it. What will it take short of a revolt to bring "Representation of the People" back to this country and to reinstate the foundation of fundamental principles our founding Fathers laid for us?

    November 13, 2008 at 4:24 pm |
  278. Jolly Potter, NY

    It's an outright disgrace. How can these companies have so much cash available when they were asking for hand-outs a few months ago. It makes a mockery of the system and something smells rotten.

    November 13, 2008 at 4:25 pm |
  279. Tom G From Ohio

    It means that the $700 Billion bailout package needs to be withdrawn. All those who have received money from the bailout package need to be taxed 100%!!! All their assets and property seized and sold at sheriff sale with the funds going directly into the treasury, the money recovered should then be redistributed to the lower classes. In other words they need to be as broke as broke can be. Then it would be interesting to see how they cope as the live like the rest of us who have lost our sources of income lost and our security because of their incompetance. While we're at it, deport them to the middle east.

    November 13, 2008 at 4:25 pm |
  280. kelly from bondville vermont

    there should have been a stipulation that any company receiving taxpayer money should not be allowed to pay performance bonuses until the money had been paid back .. this is appalling and outrageous this should not be allowed to happen this level of greed and stupidity is part of what got them into this mess in the first place,,, this is truly disgusting they should all be fired not given bonuses,, i run an excavating business with 20 employees and i am struggling to keep in business let alone pay bonuses ,, shame on anyone who is allowing this to happen

    November 13, 2008 at 4:25 pm |
  281. Bridget

    It means that the rich believe they're above reproach and they are entitle to get richer even at the expense of us who are struggling to make ends meet. These guys should be prosecuted and jailed-unbelievable.

    November 13, 2008 at 4:25 pm |
  282. Ian Crawford

    I have never before written to any news organisation with a protest or otherwise however this story of end of year bonuses for Executives of Companies getting my tax payments as a bail out is an outragous example of the insensitivity of our major companies. A few more of these stories will lead to million person marches in all cities.

    What about freezing all bonuses this year?

    Ian Crawford

    November 13, 2008 at 4:25 pm |
  283. Richard from Avalon, CA

    It means trickle up economics really does work.

    November 13, 2008 at 4:25 pm |
  284. Jack

    This means that the bonuses paid to the execs are being directly paid by the taxpayers! How dare these two banks take $10B each, and then turn around and pay it to the very people that drove their businesses into the ground so that they needed the money! I suggest jail cells, not bonuses!

    November 13, 2008 at 4:26 pm |
  285. Jay

    Well Jack,
    This is what I think it means...... It's time to go to work for them!! I currently work for a hospital that is doing pretty mych the same thing and it doesn't make any sense here either. The upper management in the hospital is spending in upwards of 8 million dollars a year to try and obtain a certification that will mean NOTHING for the hospital. Then they are sending out emails trying to get empolyees to cut cost anyway they can because we are nearly broke. The are even trying to get people to take lightbulbs out of office lamps to save money. Is the fix for this REALLY that hard to see????

    November 13, 2008 at 4:26 pm |
  286. Bill and Bev, Highland Mills, NY

    The economy should be based on a cash basis for day to day living expenses. Credit should be used only for large ticket items. This should hold true, not only for the average consumer, but also for businesses and government. That way the credit market can not fail us.

    November 13, 2008 at 4:26 pm |
  287. Poorer Than I Was from Canada

    It means they are ripping off American taxpayers and further putting the world wide economy of nations at risk. Should the U.N. investigate this?

    November 13, 2008 at 4:27 pm |
  288. Jan from Delaware

    It means they are laughing all the way to their banks Jack.

    November 13, 2008 at 4:27 pm |
  289. Jon Pues

    They have to be kidding , right? This is why Paulson wanted all of this bailout money with as little strings attached to it as possiable. So he could pull a bate and switch so that his buddies on Wall street could get there year end bonuses, Jan 20th can not get here fast enough.

    November 13, 2008 at 4:27 pm |
  290. ill in Illinois

    Why should we be surprised at Wall Street planning on rewards before doing the job they were hired for? Just blame it on another GOP-related preemptive strike: deregulation.

    November 13, 2008 at 4:27 pm |
  291. Bill and Bev, Highland Mills, NY

    What bonuses??? Bonuses should only be given when a company makes a profit.

    November 13, 2008 at 4:28 pm |
  292. Richard Mazzone

    Who does that help? Certainly not the taxpayers! It seems that Morgan Stanley's and Goldman Sachs' first priority is to help themselves. Was this the intent of the government bailout? What about the thousands who are losing their homes and their jobs? Whatever happened to fairness and equity? Could it be that the inmates are running the asylum?

    Pittsboro, North Carolina

    i

    November 13, 2008 at 4:28 pm |
  293. Tampa

    It seems to me that the bailout money should be returned to the Treasury. Apparently, the money isn't needed by these two companies.

    November 13, 2008 at 4:29 pm |
  294. Faye Kename

    It means that Abe Lincoln was wrong. Apparently you CAN keep fooling all of the people all of the time.

    November 13, 2008 at 4:30 pm |
  295. Gordon from NJ

    It means the crooks on Wall Street are a lot smarter than the crooks in Washington DC, and yet both seem to be able to stay above the law. Why isn't there someone who can stop this?

    November 13, 2008 at 4:30 pm |
  296. Blaine Heebner

    Setting aside taxpayer money for bonuses only confirms wall street does not get it. Any bailout should include a no bonus clause for at lease 5 years. Wall street executives should be just happy to have a job. Many do not.

    November 13, 2008 at 4:31 pm |
  297. Dylan F.

    Usually this would mean the companys are doing good but with the governmet giving the bailout gift to them there shouldnt be any bonus. They would be just wasting our hard earned money and not solving there problems.

    November 13, 2008 at 4:32 pm |
  298. Denis Duffy

    Business as usual, Jack

    Denis
    Upper Saint Clair, Pa

    November 13, 2008 at 4:32 pm |
  299. Pat

    Sacramento.

    It means that we haven't learned a thing from this mess and will inevitably keep repeating the same mistakes over and over until we do.

    November 13, 2008 at 4:32 pm |
  300. Kim Kabbash

    Absolutely disgraceful. I hope Americans get mad enough to vote out representatives that did not ensure the bailout money was used responsibly. I am a married mother of two living in a rental on modest means. The money taken from my taxes does not belong in the pockets of wealthy criminal bankers.

    November 13, 2008 at 4:33 pm |
  301. KIP from Ontario, Canada

    I am a self-employed professional engineer. If I make a mistake I get sued for compensation for my clients losses.
    Bankers on the other hand seam to be able to make catastophic errors that affect millions (dare I say billions) of lives and the government (tax payers) gives them 700 billion dollars of which billions end up in the pockets of those who made the mistakes.
    What is wrong with this picture?

    November 13, 2008 at 4:36 pm |
  302. Jasmine in Germany

    It means the system needs to be overhauled.

    November 13, 2008 at 4:36 pm |
  303. Charlie

    I think that if these banks can accept taxpayers dollars to Bail them out , that they should suspend the year end bonuses til the taxpayers are paid back. If that don't work the government should step in and stop it.

    November 13, 2008 at 4:37 pm |
  304. Patty

    It means they had better give the money back. if they can afford those kind of bonuses they sure don't need any tax payer money.

    November 13, 2008 at 4:37 pm |
  305. Laurie Shudarek

    Who says crime doesn't pay?

    November 13, 2008 at 4:38 pm |
  306. Karen C in California

    It means I'm in the wrong business.

    I own a small business and if I were that far in the red to need a bailout, not only would I not get a bonus, I wouldn't get a paycheck.

    We need to apply the same standards to big business as are applied by the Small Business Association in determining who gets an SBA loan. If you haven't shown good management in the past, you're not going to get a loan because they don't expect your management to improve and suddenly learn to balance the budget.

    November 13, 2008 at 4:39 pm |
  307. Tony "Dayton"

    WHAT! We need to take our money back from these two financial pirates. We cannot reward bad behavior and poor decisions with billions of dollars of American taxpayer money. Just get it over with and put their name on check stubs across America under FICA!

    November 13, 2008 at 4:39 pm |
  308. Hope the homemaker

    The rich get richer. Forget about the middle class again

    November 13, 2008 at 4:39 pm |
  309. Pablo, Charles Town, WV

    It is corporate welfare! These bonus recipients surely have a mortgage, car payments and a child or two to put through college, which likely tranlates into a big house on the hill, two Mercedes and tuition at Harvard. God forbid they have to drive a Toyota and send their kids to a State University. That would be painful, I am sure.

    November 13, 2008 at 4:40 pm |
  310. Wendy

    That they are getting bonuses while and we, the people, are paying for those bonuses. That bailout money comes out of OUR pockets or to be more exact, our children, grandchildren and great grandchildren will be paying for those bonuses.

    Wendy
    Vermont

    November 13, 2008 at 4:41 pm |
  311. Lynn, Boise ID

    It means I am applying for a new job at Morgan Stanley this afternoon. Thanks for the tip.

    November 13, 2008 at 4:41 pm |
  312. Gigi in Alabama

    It means that once again the American public is screwed over by Wall Street. Can't say that we didn't see it coming tho'.

    November 13, 2008 at 4:41 pm |
  313. Kristine from Cary NC

    It means that our tax dollars are being squandered again. I want my money back! We all need to contact our representatives to stop this nonsense. What a disgrace!

    November 13, 2008 at 4:42 pm |
  314. Anthony From Washington, DC

    To me this means that they are taking the tax payers money and doing whatsoever pleases them. Personally, I think this is unfair and that the Bush Administration should seek federal charges against these corrupt CEOs.

    November 13, 2008 at 4:42 pm |
  315. Kathy in Chicago

    Jack, It means once again we all got screwed. Are we surprised by this? Not really, next in line is the auto industry.

    November 13, 2008 at 4:44 pm |
  316. Sam

    Guess this should have been "written into" the bailout agreement – you can never assume that companies or people receiving free money will do the right thing – greed definately does not breed integrity.

    November 13, 2008 at 4:44 pm |