Don't we all want our voices heard? But this shameful billions of dollars that were deposited in the bank accounts of Wall Street/financial industry types and that came from the backs of the American people just about takes the cake and makes us all want to raise the American roof with our shouts--until they give it back!
Billions of government bailout dollars going the way of financial industry bonuses? It's wrong. We all know it's wrong. But what is any person or regulatory group or government entity going to do about it? From "Few Ways to Recover Bonuses to Bankers" in The New York Times:
"Shameful." "Outrageous." "The height of irresponsibility."
President Obama had some harsh words on Thursday for bankers who paid themselves billions of dollars in bonuses despite the sweeping government rescue of the nation's financial industry. Senator Christopher J. Dodd of Connecticut said "every possible legal means" should be used to claw back the money.
But the sober reality, compensation experts said, is that most if not all of the money that the banks have paid out is probably gone for good. The "legal means" Senator Dodd referred to are few. Unless actual wrongdoing is uncovered at the banks -- and so far prosecutors have not disclosed any -- the case for clawing back past pay is weak.
The Internet, newspapers, and magazines--new and print media--are full of stories of the colossal greed. We're all talking about it. We're all incensed. But what to do?
At the very least, we can vent as a community. We can come together in collective discontent to put pressure on the blood-suckers. If you're a member of Facebook, I've just formed a group called Bonus Busters: Make Wall Street Pay It Back! Please join it. If you're not a member, consider becoming one. I don't know if we can squeeze any of the money out of them--shame isn't in their vocabularies--but we can give it a shot. Maybe their kids will take notice. At the very least, we've made a public stand.
These Wall Streeters are supposed to have big balls, right, and to be proud of it? Let's send them a message: If you really want to show what you're made of, then PAY IT BACK!
Cross-posted at www.betharnold.com, where you can also comment.