Billions in Bogus Bonuses-Now on PBS-sdtv xvid (ptc)
President Obama has issued a scathing critique of Wall Street following news that Wall Street employees were paid more than $18 billion in bonuses last year as the financial sector melted down. What should his administration do to crack down on banks, given that some experts are suggesting an additional $1 trillion to $2 trillion may be needed to bail them out?
This week, David Brancaccio sits down with financial reporter Bethany McLean —who broke the Enron story —to look at options on the table for stabilizing the country's financial system. Is nationalizing our banks a viable solution?
Almost everyone agrees that our banks need federal money to avoid even more calamity, but how much is too much, and who's watching how they spend it?