zv-

Those banks had contracts with the executives, saying they would get the bonuses if X metrics were met (likely what it was, maybe it was just a straight bonus every year, and the assumption is that they would be fired if they didn't preform). Those contracts don't go away because of a bailout.

I would be interested in legislation that changes this. If a private bank (I don't think there are many truly private banks anymore) wants to give whatever bonuses it wants, I really don't care.

But once public money is involved, I agree we need some strict controls.