According to Bloomberg:
Chairman Barney Frank said there should be a freeze on Wall Street bonuses until companies find a way to keep the year-end payouts from encouraging excessive risk-taking.
``There should be a moratorium on bonuses,'' Frank, a Massachusetts Democrat, told reporters yesterday in Washington. ``They have a negative incentive effect because they are the ones that say if you take a risk and it pays off you get a big bonus,'' and if it causes losses ``you don't lose anything.''
This shows how politicians are ignorant of the facts and fail to understand the root causes of the current crisis. Did bonuses really cause the excessive risk taking?
If this is an example of the big government approch of an Obama admin then the US economy is in trouble