Posted by: Alternatives Magazine
on Mar 18, 2009
Tagged in: Untagged
by Jazz-minh Moore
As the Middle Class tumble down the cliff, three bankers exchange briefcases of money. Of the $700 billion government bailout, $10 billion was given to Morgan Stanley, a number that, roughly, equates to the $10 billion in yearly bonuses allotted to their employees. Many (not all) of the Morgan Stanley bankers lost millions of investors money and do not deserve these bonuses, but they will probably get them anyways. As ‘normal’ Americans suffer financial hardship, this kind of corrupt Corporate Welfare is being played out in many of our country’s most powerful institutions.