"Bonus? Give me that back" -Uncle Sam

AgentDrazenPetrovic · Feb 11, 2009

http://www.google.com/hostednews/ap/article/ALeqM5iUErFcIPXZbUKM069l8RE6mpi2JgD9690L300

The $838 billion measure includes an amendment penalizing companies that paid bonuses greater than $100,000 to executives after receiving government rescue funds last year. The amendment would require the companies to repay within four months any portion of the bonus above $100,000 or face an excise tax of 35 percent on the portion of the bonus above $100,000.

The Senate approved the stimulus bill 61-37 on Tuesday, setting up negotiations with the House, which passed a slightly different version last week.

"It should have gone without saying that the bailout money was never intended for employee bonuses, but once again financial institutions have taken advantage of lax regulation and the public trust," said Sen. Ron Wyden, D-Ore., who co-sponsored the amendment with Sen. Olympia Snowe, R-Maine.
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wow. just wow.

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"Bonus? Give me that back" -Uncle Sam

AgentDrazenPetrovic Anyone But the Lakers

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"Bonus? Give me that back" -Uncle Sam

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