Wall Street Fat Cats Are Trying to Pocket Billions in Bailout Cash

[NicholeW.]

Wall Street Fat Cats Are Trying to Pocket Billions in Bailout Cash
By Nomi Prins, AlterNet. Posted November 7, 2008.

They got us into this mess, and now they want to cash out -- will President Obama stop them?

http://www.alternet.org/workplace/106195/

The election results pretty much confirmed the extent to which Main Street is rightly livid about the Wall Street mentality that led to our financial crisis. During his historic victory speech, President-elect Barack Obama told supporters, and the rest of the world, "If this financial crisis taught us anything, it's that we cannot have a thriving Wall Street while Main Street suffers."

But, it seems that Wall Street didn't get that memo. It turns out that the nine banks about to be getting a total equity capital injection of $125 billion, courtesy of Phase I of The Bailout Plan, had reserved $108 billion during the first nine months of 2008 in order to pay for compensation and bonuses (PDF).