We have all heard the yelling coming from Main Street….sometimes loudly……the banks took taxpayer money, by the billions, now they are somewhat solid they want to pay the same group that caused the meltdown,  millions in bonuses….so they get bailed out for making crappy decisions and now they want their reward for doing so…..and now the ones that still owe TARP money are scrambling around trying to find money to pay back the loans so that they too can avoid any governmental interference in their bllod money, in the form of bonuses…..

There has been many in Congress that say that it is not right that they get a reward and of course their are those that think all is cool with it and that they should get the bonuses……there is tap dancing in Washington to try and make these thieves suffer a bit….you know the way they forced all of us to suffer…..

The UK has an excellent idea…….

Chancellor of the Exchequer Alistair Darling said Wednesday that the government will impose a 50% charge on bankers’ bonuses worth more than GBP25,000 to be borne by the employer, responding to increasingly sour public sentiment toward the banking sector.Laying out plans for borrowing and spending in his pre-budget report, Darling said that the bonus measure would apply to all U.K. banks and building societies, and foreign banks with branches or subsidiaries in the U.K. The measure starts today and will end April 5.

The U.K.’s Financial Services Authority announced new rules on pay in August that require banks to defer the bulk of bonus payments for staff over several years and link those deferred payments to the future performance of the bank and the employee’s division within it.

Apparently this is not such a bad idea….why?

French President Nicolas Sarkozy is considering a tax on 2009 banker bonuses exceeding 27,000 euros ($39,800), following the U.K. government’s introduction of a similar levy, said two French government officials. French banks would pay the charge, though the rate hasn’t been set, said the officials, who declined to be identified because they’re not authorized to speak to the press.

An aide to Sarkozy said he expects other governments to be pressured by public opinion to follow suit. Germany has no plans to follow Brown and Sarkozy’s bonus tax, a government official said on condition of anonymity today.

Now there is a novel idea….maybe the US should consider it….what is the novel idea?  Governments that are pressured by public opinion….too bad that is not the case in the US…..our system is that whoever pays the best for Congress members gets the voice…..

Congress this year unsuccessfully considered a 90 percent tax on bonuses at companies that received more than $5 billion in aid after retention pay for employees of American International Group Inc. sparked a public furor. The House passed the measure, while the Senate retreated when President Barack Obama said the U.S. shouldn’t “govern out of anger” and AIG employees promised to repay their bonuses.

(Thanks to Bloomberg and nasdaq.com for some of the content)

I see what the President means….why should we expect the thieves of Wall Street to be held responsible for their actions….a silly concept….huh?