Bailout execs get bonus billions

The Pittsburgh Tribune-Review has a story on how executives of firms getting money from the financial bailout are also getting large bonuses (more at Beyond Bailouts).

Personally, I think the Wall Street Execs deserve the bonuses, as the executed a very successful business model. Granted, their business model – lobbying the federal government to give them $700 billion from taxpayers, rather than attracting real investors by bringing something to the marketplace – isn’t what I would have liked, and is destructive of the rest of the economy.

But hey, it worked, didn’t it? Now GM and others are following that model.