President Obama and his administration have taken steps to rein in the greed and arrogance exhibited by companies, their compensation committees and executives.  They are doling out bonus packages to executives of companies that still owe US taxpayers the money we gave to bail out their bad decisions that tanked our economy.

We agree with Vermont Senator Bernie Sanders’ comments (see below).

We have a suggestion: Let them get their bonus – but as long as their company owes US taxpayers, their bonus is taxed at a rate that will repay what is due US.

Senator Sanders’ Statement on Wall St. Pay   

WASHINGTON, October 22 – Sen. Bernie Sanders (I-Vt.) issued the following statement today in reaction to reports that the Treasury Department would order seven companies that have not paid back government bailouts to dramatically cut pay packages for top executives:

 “The American people are outraged that the same people on Wall Street who helped cause this major recession are going right back to their greedy and irresponsible ways.  I applaud the Obama administration for taking an important step forward in trying to control the obscene compensation packages of the top executives on Wall Street.”

 Contact: Michael Briggs or Will Wiquist (202) 224-5141

Thanks again Senator Sanders – we’re with you on this one!