NORB VONNEGUT

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 few minutes to read the fine print on back of several packages. [...]

I’m afraid our anger will lead to unintended consequences. It will exacerbate the impact of uneven regulation among financial institutions—an imbalance that undermines the long-term integrity of our capital markets.

As Citigroup rolls toward one-third ownership by the US government, it needs Federal approval to pay the bonuses. My take on the matter:

Forget it. Figure out another solution. Or let executives walk.