Following the money
PRESIDENT BARACK Obama has been hamstrung in dealing with Wall Street bonuses by his own Cabinet, but mostly by the sweetheart deal that the previous treasury secretary, Henry Paulson, made with the banks for the Troubled Asset Relief Program. Paulson could have acted in the best interests of the country and severely limited or eliminated banker bonuses at banks accepting TARP money. After all, without the program, the banks would have been bankrupt, and, hence, lacking any money to pay the bonuses.
But, no, Paulson was dealing with his former Wall Street cronies and took no action whatsoever regarding bonuses.
Pat Paulsen, where were you when we needed you?
Ben Myers
Harvard 
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