Keyword: $700 Billion Financial Bailout

Thain of Merrill Lynch Wants Taxpayers to Pay Him $10 Million Bonus Email Print

Listen, it will just take a little initiative and folks pulling together to get us out of this economic crisis.  In fact, we are hearing from some economic quarters that this can be accomplished by the end of 2009.

An interesting response to the $700 billion bailout that was said to be necessary to save the U.S. financial system from collapse has been evidenced from the boardrooms of U.S. corporate giants.  

We immediately heard, in the wake of money handed over by taxpayers, of executives taking country club breaks amid gourmet meals and golf on lavish courses, with an explanation that such largesse had been "earned."

The subject of CEO bonuses surfaced.  Some media skeptics classified handing out bonuses to chief executive officers as synonymous to awarding them to National Football League coaches and Major League Baseball managers whose teams had just finished last.

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