Wall Street bonuses

Apparently Wall Street believes there is no moral hazard in paying out $100 billion bonuses--even as they struggle to remain solvent.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article6991008.ece

This should raise the ire of taxpayers and customers of Citigroup:

Citi, the last of the big banks to pay back the cash it received from the US government’s Troubled Asset Relief Program, is expected to clock up losses of about $8.5 billion.

Yet it is expected to pay out about $5 billion in bonuses to its investment bankers. It is expected to reveal it has paid its staff more than $30 billion in salaries, benefits and bonuses.

Meanwhile, much of America is either unemployed, underemployed, or barely hanging on to their jobs.