$700 Billion Question

I was enraged like everyone else on the proposed bailout by the US govt. for the Wall street. My take on this is that this is one of the necessary evils. This is ridiculous that everyone of the business leaders and the media cheered the wallstreet crowd during the years of the real estate bubble. Between 2001 and 2007 year over year wallstreet investment banking firms like Goldman Sachs (Hank Paulson the Treasury secretary was the CEO till end of 2005) paid record bonuses (12 billion + every year)- http://www.wsws.org/articles/2006/dec2006/blan-d22.shtml. In 2006, Godman CEO received $67.9million as bonus.

The whole bailout will make sense if the govt. does two things.
1. Calculate all the bonuses paid out by these firms between 2001 and 2007 and make it mandatory for these firms to pay the entire bonus alone back to the govt, for all the firms that is getting the help from the government.

2. When the govt. eats up the loss of banks so do they eat the loss of Individual homeowner. This bailout is outrageous but it should be fair on all the affected parties and cannot be selective.

Will write more on this