The WSJ reported recently that over 38 top U.S. banks and securities firms are are expected to pay their people $145 billion, according to newspaper’s analysis.
The public is angry over the banker pay, led the New York Times to call on Congress to pass a one-off windfall tax on banker bonuses.
Banks, which now face President Obama’s bailout tax, have so far been successful in beating back other reforms, including plans for a consumer protection regulator.
The resistance of the banking industry to roll back pay is infuriating and short-sighted to some, especially with high unemployment and people losing homes to foreclosure.
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