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March 18, 2009

Bailout Firms Plot to Shield Bonuses from Regulation
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As the AIG controversy grows, other bailed-out firms are reportedly
secretly discussing how to shield future bonuses from public scrutiny.
The Wall Street Journal reports executives at Citigroup and Morgan
Stanley are mulling ways to keep their bonuses without violating
anticipated new government rules. The options include increasing base
salaries for top employees. Citigroup has received $45 billion in
taxpayer money, while Morgan Stanley has received $10 billion. Last
week, Wells Fargo said it had increased the base salaries of its CEO and
two other top executives. Wells Fargo has received $25 billion under the
Wall Street bailout.



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