In an interview on CNN news, Christina Romer, chairperson, White House Council of Consumer Affairs, stated that she and the White House were offended by some of the large bonuses that some banks pay the sum of their employees. She also stated that the American public was offended as well, and didn’t support the bank […]

The House of Representatives, trying to stop the types of things banks were doing that got us into all this trouble, passed new legislation on Friday that put new regulations on the banking industry. By a 223-202 vote, it’s forcing banks to pay into a fund to help offset potential problems that could happen again, […]

On Thursday, the “Pay czar” of the United States (I didn’t even know we had such a thing) decided to slash the salaries of those bank executives from banks that the administration gave bailouts to. These slashes were drastic, and were in response to bonuses that had to be paid out to brokers who, somehow, […]