Friday, January 30, 2009

Bailouts and Profits

Obama calls $18B in Wall St. bonuses 'shameful'
"There will be time for them to make profits, and there will be time for them to get bonuses. Now is not that time." -President Obama

I oppose bailouts -- but: What is the purpose of a government bailout if not to make a failing business profitable?

The irony:

Reduced Wall Street Bonuses Cause Deficit

Bloomberg to announce $1 billion in cuts to NYC services.