Taxpayers are being asked for money. Wall Street should do its part.

The bonus culture on Wall Street is alive and well but could be in jeopardy if people begin to make enough noise. The allure of Wall Street is the promise of a big payday. A huge part of this payday comes from bonuses. Some on Wall Street feel that those that made their companies a fortune should still receive bonuses and only deny those, say in mortgage bonds, that ran up loses that crippled the companies finances.

This belief comes from the fact that bonuses are a major part of total compensation salaries. Many individual reviews are weighed more heavily than a company’s overall performance. I can understand the rationale and maybe those that continue to make financial institutions money should be rewarded. But this doesn’t explain the bonuses shelled out in 2008 to persons, especially at the highest level of management, that didn’t make their companies any money. Those at the highest level of management have their salaries tied directly to a company’s overall performance so if the company loses money then their bonuses should be cancelled until the losses turn into gains.

I don’t want anyone to be denied any money. I believe everyone has a right to make as much cash as possible but not at taxpayer expense.