The fat cats were supposed to get their comeuppance.
After Wall Street’s most prominent firms – by their own admission – helped cause the 2008 financial meltdown and got bailed out by the government, they were supposed to stop handing out million-dollar bonuses to their employees. No one was supposed to get seven- and eight-figure rewards, not after the Great Recession left one in 10 Americans unemployed. Not after President Barack Obama – who on Thursday called such pay “obscene” – had promised to clamp down on lavish bonuses.
