The chairman of the Senate Banking, Housing and Urban Affairs Committee says that’s a source of outrage in the country.
One company that has received government money, Goldman Sachs, has said it has set aside $16.7 billion for compensation so far this year. That’s more than a half-million dollars per employee.
Democratic Sen. Chris Dodd of Connecticut says such companies need to understand that what they are doing is an outrage. Dodd says the government should look into taking action to get those companies to back up and reconsider what they are paying out.
Dodd may want to think long and hard about stepping into the fray on this one. After all, it was Dodd who was responsible for adding language to the porkulus bill which allowed for $165 million in bonuses for AIG employees….which he admitted to adding after he was busted for lying about it.
Pot, meet kettle.