Millions of Jobless, Billions for Bankers: The Fed Must Act Now

In a nation wracked with unemployment and recession, Wall Street firms are still paying billions of dollars in bonuses – and they\’re hiring, too. The Federal Reserve recently affirmed its right to regulate executive pay, but has yet to take action on it. It should. These two facts – that bankers are earning billions while millions are unemployed – don\’t just represent an injustice. They are seamlessly connected, representing two aspects of the same underlying problem. When people are given incentives to \”make a killing\” rather than invest in the future, that\’s exactly what they\’ll do.