Bonuses –Reward for a Job Well Done

Bonuses are a reward for a job well done not taxpayers hard earned dollars. What is it about Wall Street CEO’s today that they don’t get that a bonus is a reward for a job well done? AIG acts like bonuses should be given in the face of very poor performance as if it was a god given right for these individuals. We are not facing a shortage of qualified individuals in the banking industry so if someone wants to walk let them after all where are they going to go and who in their right mind would want to hire them at this point in history.

We should be looking at ways to break up these huge corporations so that we as a people don’t have to bailout failures. What happen to anti-monopoly laws that prevent companies from getting too large in this country? I was always taught that competition was a good thing for consumers. I think that AIG should be broken up into a least three companies if not more and then let each one work harder to achieve its goals which is service to the public not Wall Street CEO’s.

So now the government is also looking at bonuses for Merrill and exactly when the decision was made to give these individuals bonuses in the first place. I think what we are faced with is a failure to communicate. Wall Street CEO’s need to understand that until things change there will be no bonuses for anyone in the financial industry. Hard working taxpayers don’t give bonuses of any kind to the very rich in bad economic times.