Friday, March 06, 2009

Can We Get Back Those Wall Street Bonuses?

Are captains of Wall Street the only ones to blame?

What about their Boards? Those who sat on audit and compensation committees who ok'd those bogus accounts and obscene bonuses?

What about shareholders in fact? Institutional investors are the principal shareholders on behalf of millions of small savers through mutual and pension funds.

What about university endowment funds that, too, are big shareholders. How come over those years they never protested?

Better late than never.

There is apparently a way to get some of those bonuses back, if not in whole, certainly in part. In any case, we, savers and taxpayers, are owed a moral judgement.

I want to pass onto you a marvelous article about this crooked lawyer who knew how to get some back: -

Given the tone deafness of those in DC managing this crisis, it is certain that nothing will come of it.

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