Bailout Strategy—Rip Off the Little Guy?

Who needs TARP to bail out financial institutions? Your local supermarket carries a retail version at the checkout counter. We know the program as “gift cards.” Last week while I was grocery shopping, the gift-card display piqued my curiosity. So I took a...

Swine Flu Found on Wall Street

Let’s face it. Many of us believe Wall Street bonuses give new meaning to “swine flu.” AIG, Citigroup, and the firm formerly known as Merrill Lynch—these struggling organizations have paid or are negotiating to pay sizable bonuses with taxpayer...

Boot TARP•o•line Bonuses

Phibro is Citigroup’s energy-trading subsidiary. The bank wants to pay special bonuses to key Phibro employees in order to retain them. The rationale is simple. Last year the bank earned $667 million dollars. And Phibro was the primary contributor. As the bank...