Bonuses for losing money!

A Bloomberg article today mentioned a few interesting theories as to why all those broke financial people and banks are paying out huge bonuses when they would be history if not for the bailout!

It seems that it is a "sacred ritual." Even Giuliani said when he was Mayor, they depended upon those bonuses for tax income! He was for them.

The fact that it is the "height" of irresponsibility and illogicality seems to make no difference!

Those bonuses to irresponsible people are asymmetrical compensation. They get them profit or loss!

There is such a thing as getting wealthy in one year from "brain power," but on Wall Street if you had the title, you got one! Just show up!

They are trying to invent good reasons as to why these companies did this, but they will never convince anyone.
People will go to work someplace else! Good, if they can find "someplace else."
It is worth $100,000 to live in NYC! (I'll take it).

Salary alone not big enough ($125,00 to 350,000) only.
Usually the same amount of bonus!
This is not a handful of people---nearly 20 BILLION last year! Amount found!

Most of those guys I am afraid were trained crooks!
Remember ENRON?