Tuesday, March 03, 2009

A Simple Solution

Here's the important graph from this:

Wall Street didn’t help its case by paying out billions in bonuses in a year when the industry loss billions of dollars. The Wall Street Journal reported that “from 2002 to 2008, the five biggest Wall Street securities firms paid an estimated $190 billion in bonuses. Those companies churned out $76 billion in combined profits during the same period. Last year, the companies had a combined net loss of $25.3 billion, yet paid bonuses of roughly $26 billion.”

So it's easy. We start seizing assets of all people who received money from financial institutions in the form of bonuses going backwards until we have enough to pay for the bailout.

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