About Those Wall Street Bonuses ...

Here is an interesting ideas from David Goldman of the Inner Workings blog:

Rather than claw back already-paid bonuses of about $18 billion, as some grandstanding Democrats suggest, Wall Street firms should issue common stock to employees in that amount and require them to invest the after-tax portion of their cash bonuses in the stock of their firms. The proceeds should be used to repay the government for funds injected into their firms. That will satisfy the public, which quite reasonably objects to the use of its tax money to compensate bankers who make an order of magnitude or two more than the average taxpayer, and it will incentivize the bankers to work hard and manage risks well.

Me: This makes more sense than about anything I have heard on Capitol Hill lately. Are we trying to solve a problem or score political points with some bogus populism?

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