This is a blatant example of shameless greedy bastards taking advantage of the American Taxpayer. Is there remedy or actions that can be taken regarding these bonuses?

Broad brush assessments often seem outrageous.

Josh from the front page:

One point that might be worth considering. I've heard that a number of sovereign wealth funds -- i.e., foreign governments who've invested big chunks of money -- have put us on notice that they would not sit still for seeing their own assets wiped out in any global financial sector plan.

I'm thinking there's a considerable amount of truth in this. People seem to forget how much "capital" had been invested in Citi over the past year or so before Uncle Sam started handing them money, and where it was coming from.

The problem is that Citi is insolvent, and that capital is quite literally worth $0.00 if Citi fully opened up their books and were forced to truly mark-to-market their assets.

It would be interesting to see the form in which the capital was infused, and where in the Bankruptcy Line it would put some of these "sovereign wealth funds" if Citi had to be liqudated.

John

I agree the bonuses for Wall Street bank robbers are reprehensible.

I also think the $4,700 cost-of-living increase for all members of Congress which stated in January (and which amounts to a cost to taxpayers of $2.5 million in 2009) is inexcusable.

Todays presser listed high on my theater of the absurd list. Back during Thanksgiving the MSM was already talking about how smaller bonuses would effect the tax take in NY State. Governor Patterson was all over the news as was Mayor Bloomberg. Two months later our newly elected president claims his outrage over 18 billion in bonuses that are paid. Did he ever pick up a news paper or watch television after he won the election as this was one of the major financial stories back then.
I'm sorry, I've lived long enough to know that a Democrat is no different than a Republican. As I've said before a Republican will hit you with a St. Louis slugger and a Democrat will use a velet glove. It is beyond self serving that NOW Obama shows us his anger. So Mr. President, are you going to go after these scumbags billions while millions of US citizens continue to lose their jobs and homes? How many more of the elderly are going to freeze to death because they can't pay their electiric bills?
You have surrounded yourself with the same crap that got us into this mess and from the looks of it you seem quite comfortable at home with the likes of Geithner who was pulling the levers behind the scenes atthe NY Fed while Rome burned. Seems the more things change, the more they stay the same.